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Asset Retirement Obligations (Tables)

12 Months Ended

Dec. 31, 2019

The following table reflects the changes in the Company’s ARO during the years ended December 31, 2019 and 2018:


	Year Ended December 31,
	2019		2018

	(In thousands)
Asset retirement obligation — beginning of period	$	52,449	$	48,799
Liabilities incurred during period⁽¹⁾	1,519		5,854
Liabilities settled during period⁽²⁾	(770)		(4,944)
Accretion expense during period⁽¹⁾⁽³⁾	2,939		2,657
Revisions to estimates	647		83

Asset retirement obligation — end of period	$	56,784	$	52,449

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(1)Includes costs for wells acquired in the Permian Basin Acquisition (see Note 10—Acquisitions) as of December 31, 2018.

(2)Liabilities settled during the years ended December 31, 2019 and 2018 included ARO related to sold properties (see Note 11—Divestitures).

(3)Included in depreciation, depletion and amortization on the Company’s Consolidated Statements of Operations.