ASSET RETIREMENT OBLIGATION

6 Months Ended

Jun. 30, 2014

5.	ASSET RETIREMENT OBLIGATION

The following table describes changes to the Company’s asset retirement obligation (ARO) liability for the six-month period ended June 30, 2014:


	(In millions)
Asset retirement obligation at December 31, 2013	$	3,222
Liabilities incurred		63
Liabilities divested		(91	)
Liabilities settled		(55	)
Accretion expense		89

Asset retirement obligation at June 30, 2014		3,228

Less current portion		(178	)

Asset retirement obligation, long-term	$	3,050