Annual report pursuant to Section 13 and 15(d)

Asset Retirement Obligation (Tables)

v3.19.3.a.u2
Asset Retirement Obligation (Tables)
12 Months Ended
Dec. 31, 2019
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, 2019 and 2018:
Asset Retirement Obligation
 
For the Years Ended December 31,
 
2019
 
2018
Beginning asset retirement obligation
$
7,956,343

 
$
9,170,493

Liabilities assumed

 

ARO accretion expense
443,969

 
499,562

Liabilities settled

 
(628,300
)
Revision in cash flow estimates
(356,112
)
 
(1,085,412
)
Ending asset retirement obligation
$
8,044,200

 
$
7,956,343