Annual report pursuant to Section 13 and 15(d)

Note 11 - Accrued Closure Costs and ARO

Note 11 - Accrued Closure Costs and ARO

12 Months Ended

Dec. 31, 2015

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.