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Asset Retirement Obligation
 6 Months Ended
Jun. 30, 2018
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligation
Asset Retirement Obligation

The following table describes the changes to the Company’s asset retirement obligation liability (in thousands):
 
Six Months Ended June 30,
 
2018
 
2017
Asset retirement obligation, beginning of period
$
31,310

 
$
36,610

Liabilities incurred
7

 
574

Liabilities settled
(98
)
 
(1,357
)
Accretion expense
240

 
1,100

Revisions in estimates
(67
)
 
(161
)
Divestiture of oil and gas properties
(28,214
)
 
(248
)
Asset retirement obligation, end of period
3,178

 
36,518

Less: current portion of asset retirement obligation
(877
)
 
(2,759
)
Long-term asset retirement obligation
$
2,301

 
$
33,759



The divestiture of oil and gas properties during 2018 totaling $28.2 million relates to the sale of the Company's Gulf of Mexico assets. The liabilities incurred, revisions in estimated cash flows and divestitures represent non-cash investing activities for purposes of the statement of cash flows.