Asset Retirement Obligation

3 Months Ended

Mar. 31, 2015

4. ASSET RETIREMENT OBLIGATION

The following table describes changes to the Company’s asset retirement obligation (ARO) liability for the three-month period ended March 31, 2015:


	(In millions)
Asset retirement obligation at December 31, 2014	$	3,085
Liabilities incurred		41
Liabilities settled		(58	)
Accretion expense		44
Revisions in estimated liabilities		29

Asset retirement obligation at March 31, 2015		3,141
Less current portion		(47	)

Asset retirement obligation, long-term	$	3,094