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Asset Retirement Obligations
 9 Months Ended
Sep. 30, 2019
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligations Asset Retirement Obligations
Asset retirement obligations primarily consist of estimated costs to remove, dismantle and restore land or seabed at the end of oil and gas production operations. Changes in asset retirement obligations for the nine months ended were as follows:
 
September 30,
(In millions)
2019
 
2018
Beginning balance
$
1,145

 
$
1,483

Incurred liabilities, including acquisitions
25

 
10

Settled liabilities, including dispositions
(1,106
)
 
(105
)
Accretion expense (included in depreciation, depletion and amortization)
29

 
53

Revisions of estimates
15

 
(130
)
Held for sale
108

 
(10
)
Ending balance
$
216

 
$
1,301


September 30, 2019
•
Settled liabilities primarily relates to the sale of our U.K. business, which closed during the third quarter of 2019.
•
Held for sale reflects a transfer to settled liabilities during 2019. This transfer was primarily related to the Droshky field (Gulf of Mexico), which was considered held for sale at year-end 2018 and closed in the first quarter of 2019.
•
Ending balance includes $18 million classified as short-term at September 30, 2019.
September 30, 2018
•
Settled liabilities primarily relate to the sale of non-core, non-operated conventional properties in the Gulf of Mexico as well as retirements in the U.K. See Note 5 for discussion of these divestitures in further detail.
•
Revisions of estimates were primarily due to the acceleration of U.K. abandonment activities to capture favorable market conditions and lower estimated abandonment costs.
•
Ending balance includes $58 million classified as short-term at September 30, 2018.