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ASSET RETIREMENT OBLIGATION (Tables)
 9 Months Ended
Sep. 30, 2012
Asset Retirement Obligation

The following table describes changes to the Company’s asset retirement obligation (ARO) liability for the nine-month period ended September 30, 2012:

 

     (In millions)  

Asset retirement obligation at December 31, 2011

    $ 3,887  

Liabilities incurred

      383  

Liabilities acquired

      33  

Liabilities settled

      (418 ) 

Accretion expense

      172  

Revisions in estimated liabilities

      171  
  

 

 

  

Asset retirement obligation at September 30, 2012

      4,228  

Less current portion

      (434 ) 
  

 

 

  

Asset retirement obligation, long-term

    $ 3,794