Asset Retirement Obligations

3 Months Ended

Mar. 31, 2016

Asset Retirement Obligations [Abstract]

Asset Retirement Obligations

15.    Asset Retirement Obligations

The following table presents the changes in Devon’s asset retirement obligations.

	Three Months Ended March 31,
	2016		2015
	(Millions)
Asset retirement obligations as of beginning of period	$	1,414	$	1,399
Liabilities incurred and assumed through acquisitions		12		23
Liabilities settled and divested		(17)		(25)
Revision of estimated obligation		77		62
Accretion expense on discounted obligation		19		19
Foreign currency translation adjustment		29		(53)
Asset retirement obligations as of end of period		1,534		1,425
Less current portion		43		52
Asset retirement obligations, long-term	$	1,491	$	1,373