Annual report pursuant to Section 13 and 15(d)

Asset Retirement Obligations

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Asset Retirement Obligations
12 Months Ended
Dec. 31, 2019
Asset Retirement Obligations  
Asset Retirement Obligations

(8) Asset Retirement Obligations

The following is a reconciliation of the Company’s asset retirement obligations for the years ended December 31, 2018 and 2019 (in thousands):

2018

2019

Asset retirement obligations—December 31, 2018

$

34,610

58,979

Obligations settled

(153)

Obligations incurred

 

9,981

2,312

Revisions to prior estimates

11,569

(2,537)

Accretion expense

 

2,819

3,762

Effect of deconsolidation of Antero Midstream Partners LP (1)

 

(7,518)

Asset retirement obligations—December 31, 2019

$

58,979

54,845

(1) Effective March 13, 2019, Antero Midstream Partners is no longer consolidated in Antero Resources’ results.

Revisions to prior estimates in 2019 are primarily due to a decrease in well lives. Revisions to prior estimates in 2018 are primarily due to an increase in estimated abandonment costs for vertical wells. Asset retirement obligations are included in other liabilities on the Company’s consolidated balance sheets.