Asset Retirement Obligations

6 Months Ended

Jun. 30, 2022

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 six-month periods ended June 30, 2022 and 2021 (in millions):

	Six Months Ended June 30,
	2022		2021
Carrying Amount at January 1	$	1,231	$	1,217
Liabilities Incurred	47		40
Liabilities Settled (1)	(151)		(55)
Accretion	20		22
Revisions	3		3
Foreign Currency Translation	(1)		—
Carrying Amount at June 30	$	1,149	$	1,227
Current Portion	$	43	$	47
Noncurrent Portion	$	1,106	$	1,180

(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.