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ASSET RETIREMENT OBLIGATION
 12 Months Ended
Dec. 31, 2019
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligation ASSET RETIREMENT OBLIGATION
The following table describes changes to the Company’s asset retirement obligation (ARO) liability for the years ended December 31, 2019 and 2018:
 
 
December 31,
 
 
2019
 
2018
 
 
 
 
 
 
 
(In thousands)
Asset retirement obligation, beginning balance
 
$
29,369

 
$
18,189

Liabilities incurred during the period
 
15,303

 
13,816

Accretion expense
 
1,639

 
1,328

Revisions in estimated liabilities
 
13,784

 
(3,964
)
Asset retirement obligation, ending balance
 
$
60,095

 
$
29,369


ARO reflects the estimated present value of the amount of dismantlement, removal, site reclamation, and similar activities associated with the Company’s infrastructure assets which include central processing facilities, gathering systems, and pipelines. Management utilizes independent valuation reports and estimates of current costs to project expected cash outflows for retirement obligations. Management estimates the ultimate productive life of the properties, a risk-adjusted discount rate, and an inflation factor in order to determine the current present value of this obligation. To the extent future revisions to these assumptions impact the present value of existing ARO, a corresponding adjustment is made to the property, plant, and equipment balance.