Quarterly report pursuant to Section 13 or 15(d)

Asset Retirement Obligation

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Asset Retirement Obligation
9 Months Ended
Sep. 30, 2018
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligation

Note 5 – Asset Retirement Obligation

 

The following table provides a reconciliation of the changes in the estimated present value of asset retirement obligations for the nine months ended September 30, 2018 and December 31, 2017.

 

    For the period ended  
    September 30, 2018     December 31, 2017  
             
Beginning asset retirement obligations   $ 303,327     $ 291,659  
Liabilities established     23,709        
Accretion expense     9,574       11,668  
Ending asset retirement obligations   $ 336,610     $ 303,327  

 

Accretion expense for the three months ended September 30, 2018 and 2017 was $3,507 and $2,917, respectively. Accretion expense for the nine months ended September 30, 2018 and 2017 was $9,574 and $8,751,   respectively.