Asset Retirement Obligations

3 Months Ended

Mar. 31, 2021

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations

15. Asset Retirement Obligations

The following table presents the changes in Devon’s asset retirement obligations.

	Three Months Ended March 31,
	2021			2020
Asset retirement obligations as of beginning of period	$	369		$	398
Assumed WPX obligations		98			—
Liabilities incurred		9			6
Liabilities settled and divested		(17	)		(13	)
Revision of estimated obligation		11			4
Accretion expense on discounted obligation		7			5
Asset retirement obligations as of end of period		477			400
Less current portion		22			14
Asset retirement obligations, long-term	$	455		$	386