ASSET RETIREMENT OBLIGATIONS

9 Months Ended

Sep. 30, 2019

ASSET RETIREMENT OBLIGATIONS

ASSET RETIREMENT OBLIGATIONS

9. 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,
(thousands of dollars)	2019		2018
Balance, beginning of period	$	6,203	$	5,731
Liabilities settled		(334)		(521)
Accretion expense		353		993
Balance, end of period		6,222		6,203
Less: Current portion		(895)		(708)
Non-current portion	$	5,327	$	5,495

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 September 2020 at the Company’s Rosita and Vasquez projects.