|
For the Year Ended December 31,
|
||||||||
|
2013
|
2012
|
|||||||
|
Beginning asset retirement obligations
|
$
|
3,507,798
|
$
|
3,450,252
|
||||
|
Obligations assumed from acquisition (1)
|
65,263
|
—
|
||||||
|
Revaluation of asset retirement obligations (2)
|
(468,519
|
)
|
—
|
|||||
|
Accretion expense
|
172,927
|
196,903
|
||||||
|
Sale of Young and Archer County properties
|
(99,891
|
)
|
—
|
|||||
|
Settlement of asset retirement obligations
|
(15,768
|
)
|
(139,357
|
)
|
||||
|
Ending asset retirement obligations
|
$
|
3,161,810
|
$
|
3,507,798
|
||||
|
(1)
|
ARO of Archer and Young County, Texas, properties acquired in the Acquisition.
|
|
|
(2)
|
ARO of Texas and Louisiana properties
|