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Asset Retirement Obligations
 3 Months Ended
Mar. 31, 2015
Asset Retirement Obligations [Abstract]  
Asset Retirement Obligations
3)      Asset Retirement Obligations

We record the fair value of the reclamation liability for our inactive mining properties and our operating oil and gas properties as of the date that the liability is incurred.  We review the liability each quarter and determine if a change in estimate is required, and we accrete the discounted liability on a quarterly basis for the future liability.  Final determinations are made during the fourth quarter of each year.  We deduct any actual funds expended for reclamation during the quarter in which it occurs.

The following is a reconciliation of the total liability for asset retirement obligations:
     
  
(In thousands)
 
  
March 31,
  
December 31,
 
  
2015
  
2014
 
Beginning asset retirement obligation
 
$
1,133
  
$
812
 
Accretion of discount
  
12
   
40
 
Liabilities incurred
  
33
   
310
 
Liabilities settled
  
--
   
(29
)
Ending asset retirement obligation
 
$
1,178
  
$
1,133
 
         
Mineral properties
 
$
192
  
$
187
 
Oil and Gas wells
  
986
   
946
 
Ending asset retirement obligation
 
$
1,178
  
$
1,133