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Asset Retirement Obligation (Tables)
12 Months Ended
Dec. 31, 2014
Asset Retirement Obligation Disclosure [Abstract]  
Changes to Company's Asset Retirement Obligations

The following table describes the changes to the Company’s asset retirement obligations during 2014 and 2013 (in thousands):

 

 

2014

 

 

2013

 

Balance at beginning of year

 

$

4,837

 

 

$

4,422

 

Liabilities incurred

 

 

473

 

 

 

375

 

Liabilities settled

 

 

(197

)

 

 

(126

)

Accretion expense

 

 

169

 

 

 

166

 

Revision in estimated costs of plugging oil and natural gas wells

 

 

19

 

 

 

 

Asset retirement obligation at end of year

 

$

5,301

 

 

$

4,837