Annual report pursuant to Section 13 and 15(d)

Asset Retirement Obligation (Tables)

v3.6.0.2
Asset Retirement Obligation (Tables)
12 Months Ended
Dec. 31, 2016
Asset Retirement Obligation Disclosure [Abstract]  
Schedule of asset retirement obligations
The following table is a reconciliation of the asset retirement obligation as of December 31, 2016 and 2015:
Asset Retirement Obligation
 
 
For the Years Ended
 
 
2016
 
2015
Beginning asset retirement obligation
 
$
12,839,042

 
$

Liabilities assumed
 

 
12,500,000

ARO accretion expense
 
726,664

 
339,042

Revision in cash flow estimates
 
(1,682,763
)
 

Ending asset retirement obligation
 
$
11,882,943

 
$
12,839,042