Accounting for Suspended Exploratory Wells (Tables)

12 Months Ended

Dec. 31, 2021

Accounting for Suspended Exploratory Wells [Abstract]

Changes in company's suspended exploratory well costs

The following table indicates the changes to the company’s suspended exploratory well costs for the three years ended December 31, 2021:


	2021		2020		2019
Beginning balance at January 1	$	2,512	$	3,041	$	3,563
Additions to capitalized exploratory well costs pending the determination of proved reserves	56		28		244
Reclassifications to wells, facilities and equipment based on the determination of proved reserves	(425)		(102)		(500)
Capitalized exploratory well costs charged to expense	(34)		(667)		(125)
Other*	—		212		(141)
Ending balance at December 31	$	2,109	$	2,512	$	3,041

* 2020 represents fair value of well costs acquired in the Noble acquisition. 2019 represents property sales.

Aging of capitalized well costs and number of project

The following table provides an aging of capitalized well costs and the number of projects for which exploratory well costs have been capitalized for a period greater than one year since the completion of drilling.


	At December 31
	2021		2020		2019
Exploratory well costs capitalized for a period of one year or less	$	65	$	26	$	214
Exploratory well costs capitalized for a period greater than one year	2,044		2,486		2,827
Balance at December 31	$	2,109	$	2,512	$	3,041
Number of projects with exploratory well costs that have been capitalized for a period greater than one year*	15		17		22

* Certain projects have multiple wells or fields or both.

Aging of Costs on Well and Project Basis

The $2,044 of suspended well costs capitalized for a period greater than one year as of December 31, 2021, represents 83 exploratory wells in 15 projects. The tables below contain the aging of these costs on a well and project basis:


Aging based on drilling completion date of individual wells:	Amount		Number of wells
2000-2009	$	312	16
2010-2014	1,146		50
2015-2020	586		17
Total	$	2,044	83

Aging based on drilling completion date of last suspended well in project:	Amount		Number of projects
2003-2012	$	341	3
2013-2016	1,318		9
2017-2021	385		3
Total	$	2,044	15