Asset Retirement Obligations

9 Months Ended

Sep. 30, 2021

Asset Retirement Obligation [Abstract]

Asset Retirement Obligations

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 nine-month periods ended September 30, 2021 and 2020 (in millions):

	Nine Months Ended September 30,
	2021		2020
Carrying Amount at January 1	$	1,217	$	1,111
Liabilities Incurred	55		29
Liabilities Settled (1)	(83)		(38)
Accretion	33		35
Revisions	(7)		52
Carrying Amount at September 30	$	1,215	$	1,189
Current Portion	$	54	$	50
Noncurrent Portion	$	1,161	$	1,139

(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 Condensed Consolidated Balance Sheets.