v3.26.1
Asset Retirement Obligations
6 Months Ended
Jun. 30, 2026
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligations
16.
Asset Retirement Obligations

The following table presents the changes in Devon’s asset retirement obligations.

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

Asset retirement obligations as of beginning of period

 

$

906

 

 

$

807

 

Assumed Coterra obligations

 

 

177

 

 

 

 

Liabilities incurred

 

 

26

 

 

 

21

 

Liabilities settled and divested

 

 

(24

)

 

 

(22

)

Revision and reclassification of estimated obligation

 

 

107

 

 

 

55

 

Accretion expense on discounted obligation

 

 

31

 

 

 

24

 

Asset retirement obligations as of end of period

 

 

1,223

 

 

 

885

 

Less current portion

 

 

54

 

 

 

46

 

Asset retirement obligations, long-term

 

$

1,169

 

 

$

839

 

During the first six months of 2026 and 2025, Devon increased its asset retirement obligations by approximately $107 million and $55 million, respectively, primarily due to changes in current cost estimates for its oil and gas assets.