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ASSET RETIREMENT OBLIGATIONS
 12 Months Ended
Dec. 31, 2019
Asset Retirement Obligation [Abstract]  
ASSET RETIREMENT OBLIGATIONS ASSET RETIREMENT OBLIGATIONS

The following table describes the changes to the Company’s asset retirement obligations liability for the following periods:
 
Year Ended December 31,
 
2019
 
2018
 
2017
 
(in millions)
Asset retirement obligations, beginning of period
$
136

 
$
21

 
$
17

Additional liabilities incurred
8

 
3

 
2

Liabilities acquired
4

 
111

 
2

Liabilities settled
(61
)
 
(2
)
 
(1
)
Accretion expense
7

 
2

 
1

Revisions in estimated liabilities
—

 
1

 
—

Asset retirement obligations, end of period
94

 
136

 
21

Less current portion
—

 
—

 
1

Asset retirement obligations - long-term
$
94

 
$
136

 
$
20



The Company’s asset retirement obligations primarily relate to the future plugging and abandonment of wells and related facilities. The Company estimates the future plugging and abandonment costs of wells, 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 the existing asset retirement obligation liability, a corresponding adjustment is made to the oil and natural gas property balance.