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Asset Retirement Obligation (Tables)
 12 Months Ended
Dec. 31, 2015
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligation

The following table describes changes to the Company’s asset retirement obligation (ARO) liability for the years ended December 31, 2015 and 2014:

 

         2015              2014      
     (In millions)  

Asset retirement obligation at beginning of year

     $ 3,085        $ 3,222   

Liabilities incurred

      68         171   

Liabilities divested

      (623)         (471)   

Liabilities settled

      (90)         (146)   

Accretion expense

      158         181   

Revisions in estimated liabilities

      -         128   
  

 

 

     

 

 

  

Asset retirement obligation at end of year

      2,598         3,085   

Less current portion

      (36)         (37)   
  

 

 

     

 

 

  

Asset retirement obligation, long-term

     $         2,562        $         3,048