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Asset Retirement Obligations (Tables)
 12 Months Ended
Dec. 31, 2014
Asset Retirement Obligations [Abstract]  
Asset Retirement Obligation

 

 

 

 

 

(Thousands of dollars)

 2014  

 

2013  

Balance at beginning of year

$
880,003 

 
751,583 

         Accretion expense

 
50,778 

 
48,996 

         Liabilities incurred

 
70,568 

 
172,048 

         Revisions of previous estimates

 
8,278 

 
(4,856)

         Liabilities settled

 
(36,818)

 
(51,647)

         Liabilities assumed by purchaser of oil and gas assets

 
(69,416)

 

– 

         Liabilities assumed by Murphy USA Inc. upon separation

 

– 

 
(15,401)

         Changes due to translation of foreign currencies

 
(27,665)

 
(20,720)

                 Balance at end of year

 
875,728 

 
880,003 

         Current portion of liability at end of year*

 
(34,202)

 
(27,515)

                 Noncurrent portion of liability at end of year

$
841,526 

 
852,488 

 

*Included in Other Accrued Liabilities on the Consolidated Balance Sheet.