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Asset Retirement Obligations (Tables)
 9 Months Ended
Sep. 30, 2024
Asset Retirement Obligation Disclosure [Abstract]  
Schedule of Change in Asset Retirement Obligation
The following table indicates the changes to the company’s before-tax asset retirement obligations for the nine months ended September 30, 2024 and 2023:
20242023
(Millions of dollars)
Balance at January 1$13,833 $12,701 
Liabilities assumed in the PDC Energy, Inc. acquisition— 220 
Liabilities incurred38 140 
Liabilities settled(1,803)(1,124)
Accretion expense441 457 
Revisions in estimated cash flows(63)316 
Balance at September 30$12,446 $12,710