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Commitments (Tables)

12 Months Ended

Dec. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Summary of Future Minimum Lease Payments for Non-Cancelable Operating Leases

In February 2019 the Company amended certain lease for office space in Houston providing for payments of $344 thousand and $86 thousand in 2019 and 2020, respectively.The Company has several non-cancelable operating leases, primarily for rental of office space, that have a term of more than one year. The future minimum lease payments for the operating leases at December 31, 2018 are as follows.

(Thousands of dollars)		Operating Leases
2019		$	222
2020			69
2021			17
Total minimum payments		$	308

Reconciliation of Liability for Plugging and Abandonment Costs

A reconciliation of the liability for plugging and abandonment costs for the years ended December 31, 2018 and 2017 is as follows:

		Year Ended December 31,
(Thousands of dollars)		2018				2017
Asset retirement obligation at beginning of period		$	23,578			$	17,505
Liabilities incurred			49				45
Liabilities settled			(2,656	)			(676	)
Accretion expense			1,120				768
Revisions in estimated liabilities			(757	)			5,936
Asset retirement obligation at end of period		$	21,334			$	23,578

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Tabular disclosure for lessee's operating leases. Includes, but is not limited to, description of lessee's operating lease, existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.

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Tabular disclosure of the changes in carrying amount of a liability for asset retirement obligations, for changes such as new obligations, changes in estimates of existing obligations, spending on existing obligations, property dispositions, and foreign currency translation.

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