Asset Retirement Obligations

9 Months Ended

Sep. 30, 2022

Asset Retirement Obligation [Abstract]

Asset Retirement Obligations

Asset Retirement ObligationsThe Company's asset retirement obligations primarily relate to the future plugging and abandonment of wells and related facilities. Market risk premiums associated with asset retirement obligations are estimated to represent a component of the Company's credit-adjusted risk-free rate that is utilized in the calculations of asset retirement obligations.

Asset retirement obligations activity is as follows:

	Nine Months Ended September 30, 2022
	(in millions)
Beginning asset retirement obligations	$	354
New wells placed on production	7
Changes in estimates	(1)
Liabilities settled	(48)
Accretion of discount	12
Ending asset retirement obligations	324
Less current portion of asset retirement obligations	(75)
Asset retirement obligations, long-term	$	249