Asset Retirement Obligations

12 Months Ended

Dec. 31, 2014

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations

7. Asset Retirement Obligations

The majority of Anadarko’s AROs relate to the plugging of wells and the related abandonment of oil and gas properties. Revisions in estimated liabilities during the period relate primarily to changes in estimates of asset retirement costs and include, but are not limited to, revisions of estimated inflation rates, changes in property lives, and the expected timing of settlement. The following summarizes changes in the Company’s AROs during 2014 and 2013:

millions	2014			2013
Carrying amount of asset retirement obligations at January 1	$	2,022		$	1,885
Liabilities incurred	119			182
Property dispositions	(70		)	(76		)
Liabilities settled	(443		)	(162		)
Accretion expense	93			110
Revisions in estimated liabilities	332			83
Carrying amount of asset retirement obligations at December 31	$	2,053		$	2,022