Asset Retirement Obligations

3 Months Ended

Mar. 31, 2018

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations

7. ASSET RETIREMENT OBLIGATIONS

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

	March 31,			December 31,
	2018			2017
(thousands of dollars)
Balance, beginning of period	$	5,731		$	4,789
Liabilities settled		(142	)		(97	)
Accretion expense		134			1,039
Balance, end of period		5,723			5,731
Less: Current portion		(936	)		(1,078	)
Non-current portion	$	4,787		$	4,653

The Company is currently performing plugging and surface reclamation activities at its Rosita and Vasquez projects located in Duval County, Texas. The Company’s current liability of $0.9 million consists of the estimated costs associated with current reclamation activities through March 2019 at the Company’s Rosita and Vasquez projects.