Asset Retirement Obligations

3 Months Ended

Mar. 31, 2015

Asset Retirement Obligation [Abstract]

Asset Retirement Obligations

Asset Retirement Obligations

The Company's asset retirement obligations primarily relate to the future plugging and abandonment of wells and facilities. The following table summarizes the Company's asset retirement obligation activity during the three months ended March 31, 2015 and 2014:

	Three Months Ended March 31,
	2015			2014
	(in millions)
Beginning asset retirement obligations	$	189		$	194
New wells placed on production	1			1
Changes in estimates	—			1
Dispositions	—			(1		)
Liabilities settled	(5		)	(4		)
Accretion of discount	3			3
Ending asset retirement obligations	$	188		$	194

The Company records the current and noncurrent portions of asset retirement obligations in other current liabilities and other liabilities, respectively, in the accompanying consolidated balance sheets. As of March 31, 2015, the current portion of the Company's asset retirement obligations was $31 million, as compared to $28 million at December 31, 2014.