Asset Retirement Obligations

6 Months Ended

Jun. 30, 2018

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:

	June 30, 2018			December 31, 2017
(thousands of dollars)
Balance, beginning of period	$	5,731		$	4,789
Liabilities settled		(355	)		(97	)
Accretion expense		268			1,039
Balance, end of period		5,644			5,731
Less: Current portion		(526	)		(1,078	)
Non-current portion	$	5,118		$	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 $0.5 million consists of the estimated costs associated with current reclamation activities through June 2019 at the Company’s Rosita and Vasquez projects.