Asset Retirement Obligations

9 Months Ended

Sep. 30, 2017

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations

8. ASSET RETIREMENT OBLIGATIONS

The following table summarizes the changes in the reserve for future restoration and reclamation costs on the balance sheet:

	September 30,			December 31,
	2017			2016
(thousands of dollars)
Balance, beginning  of period	$	4,894		$	4,468
Liabilities settled		(37	)		(54	)
Liabilities disposed		(106	)
Accretion expense		395			480
Balance, end of period		5,146			4,894
Less:  Current portion		(121	)		(121	)
Less:  Liabilities held for sale		-			(105	)
Non-current portion	$	5,025		$	4,668

The Company is currently performing surface reclamation activities at its Rosita project located in Duval County, Texas. The Company’s current liability of $0.1 million consists of the estimated costs associated with current surface reclamation activities through September 2018 at the Company’s Rosita project.