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Asset Retirement Obligations (Tables)
3 Months Ended
Mar. 31, 2020
Asset Retirement Obligation Disclosure [Abstract]  
Schedule of Asset Retirement Obligations

The following is a reconciliation of the changes in the Company’s liabilities for asset retirement obligations as of March 31, 2020 and December 31, 2019:

 

   

Three Months Ended

March 31, 2020

   

Year Ended

December 31, 2019

 
      (in thousands)  
Balance, beginning of year   $ 819     $ 939  
Accretion     6       22  
Sold/Plugged     -       (130 )
New drilled wells     -       2  
Change in discount rate     -       (14 )
Liabilities incurred for acquisition of New Horizon wells     163       -  
Balance, end of period   $ 988     $ 819