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Asset Retirement Obligations
 12 Months Ended
Dec. 31, 2024
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligations
12. ASSET RETIREMENT OBLIGATIONS

The following table provides a summary of changes in asset retirement obligations:
 Year Ended December 31,
thousands20242023
Carrying amount of asset retirement obligations at beginning of year$366,791 $300,514 
Liabilities incurred10,060 34,929 
Liabilities settled(5,970)(11,273)
Accretion expense19,432 15,040 
Revisions in estimated liabilities(7,288)27,581 
Carrying amount of asset retirement obligations at end of year$383,025 $366,791 

Liabilities incurred for the year ended December 31, 2024, primarily related to expansion activity in West Texas. Revisions in estimated liabilities for the year ended December 31, 2024, primarily related to a decrease in expected settlement costs for certain assets in the Rocky Mountains.
Liabilities incurred for the year ended December 31, 2023, primarily related to the acquisition of Meritage and expansion activity in West Texas. Revisions in estimated liabilities for the year ended December 31, 2023, primarily related to an increase in expected settlement costs across all areas of operations.