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Asset Retirement Obligations
 12 Months Ended
Dec. 31, 2018
Asset Retirement Obligations [Abstract]  
Asset Retirement Obligations

(11) ASSET RETIREMENT OBLIGATIONS



The following table summarizes the Company’s 2018 and 2017 activity related to asset retirement obligations:





 

 

 

 

 

 

(in millions)

 

2018

 

2017

Asset retirement obligation at January 1

 

$

 165 

 

$

 141 

Accretion of discount

 

 

 9 

 

 

 8 

Obligations incurred

 

 

 1 

 

 

 3 

Obligations settled/removed (1)

 

 

 (116)

 

 

 (10)

Revisions of estimates

 

 

 2 

 

 

 23 

Asset retirement obligation at December 31

 

$

 61 

 

$

 165 



 

 

 

 

 

 

Current liability

 

 

 6 

 

 

 12 

Long-term liability

 

 

 55 

 

 

 153 

Asset retirement obligation at December 31

 

$

 61 

 

$

 165 



(1)

Obligations settled/removed include $111 million related to asset divestitures in 2018, of which $107 million related to the Fayetteville Shale sale.