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Changes in the asset retirement obligation as follows (Details) (Asset Retirement obligation, USD $)
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Asset Retirement obligation
USD ($)
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| Balance at Dec. 31, 2013 | $ 1,182,410 |
| Liabilities acquired | 322,879 |
| Liabilities incurred | 1,220,566 |
| Accretion expense | 104,242 |
| Liabilities settled | (37,287) |
| Balance at Sep. 30, 2014 | $ 2,792,810 |
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- Definition
Current portion of the carrying amount of a liability for an asset retirement obligation. An asset retirement obligation is a legal obligation associated with the disposal or retirement of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. No definition available.
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- Definition
The net book value of a nonmonetary asset transferred or exchanged in connection with the acquisition of a business or asset in a noncash transaction. No definition available.
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- Definition
Amount of asset retirement obligations incurred during the period. No definition available.
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- Definition
Amount of accretion expense recognized during the period that is associated with an asset retirement obligation. Accretion expense measures and incorporates changes due to the passage of time into the carrying amount of the liability. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of asset retirement obligations settled, or otherwise disposed of, during the period. This may include asset retirement obligations transferred to third parties associated with the sale of a long-lived asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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