Annual report pursuant to Section 13 and 15(d)

Note 11 - Accrued Closure Costs and ARO

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Note 11 - Accrued Closure Costs and ARO
12 Months Ended
Dec. 31, 2015
Notes to Financial Statements  
Asset Retirement Obligation Disclosure [Text Block]
NOTE 11
ACCRUED CLOSURE COSTS AND ARO
 
Accrued closure costs represent our estimated environmental liability to clean up our fixed-based regulated facilities as required by our permits, in the event of closure. Changes to reported closure liabilities for the years ended December 31, 2015 and 2014, were as follows:
 
Amounts in thousands
       
Balance as of December 31, 2013
  $ 5,222  
Accretion expense
    286  
Balance as of December 31, 2014
    5,508  
Accretion expense
    299  
Payments
    (331 )
Adjustment to closure liability
    (175 )
Balance as of December 31, 2015
  $ 5,301  
 
The decreases in closure liabilities in 2015 included approximately $331,000 of costs incurred in connection with the closure of processing unit/equipment at our PFNWR facility and a reduction of approximately $175,000 in closure liabilities at our PFNWR facility resulting from a change in estimated closure costs.
 
The reported closure asset or ARO, is reported as a component of “Net Property and equipment” in the Consolidated Balance Sheet for the years ended December 31, 2015 and 2014 as follows:
 
Amounts in thousands
       
Balance as of December 31, 2013
  $ 2,961  
Amortization of closure and post-closure asset
    (91 )
Balance as of December 31, 2014
    2,870  
Amortization of closure and post-closure asset
    (152 )
Adjustment to closure and post-closure asset
    (143 )
Balance as of December 31, 2015
  $ 2,575  
 
The adjustment to the ARO for 2015 was due to the adjustment made to our closure liability as discussed above.