Asset Retirement Obligations

6 Months Ended

Jun. 30, 2012

Asset Retirement Obligations [Abstract]

Asset Retirement Obligations [Text Block]

6.  Asset Retirement Obligations

The following table presents the reconciliation of the beginning and ending aggregate carrying amounts of short-term and long-term legal obligations associated with the retirement of property, plant and equipment for the six-month periods ended June 30, 2012 and 2011 (in thousands):

	Six Months Ended
	June 30,
	2012			2011
Carrying Amount at Beginning of Period	$	587,084		$	498,288
Liabilities Incurred		29,799			12,973
Liabilities Settled (1)		(47,920	)		(38,748	)
Accretion		15,316			12,268
Revisions		52			618
Foreign Currency Translations		(871	)		2,834
Carrying Amount at End of Period	$	583,460		$	488,233
Current Portion	$	28,496		$	22,959
Noncurrent Portion	$	554,964		$	465,274

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(1) Includes settlements related to asset sales.

The current and noncurrent portions of EOG's asset retirement obligations are included in Current Liabilities - Other and Other Liabilities, respectively, on the Consolidated Balance Sheets.