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Asset Retirement Obligations | 12 Months Ended
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Dec. 31, 2019
Asset Retirement Obligation Disclosure [Abstract] |
Asset Retirement Obligations | Asset Retirement Obligations The following table presents the balance and activity of the Company’s asset retirement obligations (in thousands):
| Year Ended December 31, |  |  |  |
| 2019 |  | 2018 |  | 2017
Beginning balance | $ | 60,064 |  |  | $ | 77,544 |  |  | $ | 106,481 |
Liability incurred upon acquiring and drilling wells | 2,771 |  |  | 7,079 |  |  | 1,336 |
Revisions in estimated cash flows(1) | 12,208 |  |  | 870 |  |  | (28,565) |
Liability settled or disposed in current period(2) | (5,379) |  |  | (31,967) |  |  | (11,308) |
Accretion | 5,352 |  |  | 6,538 |  |  | 9,600 |
Ending balance | 75,016 |  |  | 60,064 |  |  | 77,544 |
Less: current portion | 22,119 |  |  | 25,393 |  |  | 41,017 |
Asset retirement obligations, net of current | $ | 52,897 |  |  | $ | 34,671 |  |  | $ | 36,527 |
____________________ (1) Revisions for the years ended December 31, 2019, 2018 and 2017 relate primarily to changes in estimated well lives due to changes in oil and natural gas prices and changes in plugging cost estimates. (2) Liability settled or disposed for the year ended December 31, 2018 includes $26.9 million associated with the Permian Properties sold in November 2018.

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- Definition The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 410 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2175671 + Details
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