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Accounting for Suspended Exploratory Wells (Tables) | 12 Months Ended
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Dec. 31, 2023
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, 2023:
|  | 2023 |  |  | 2022 |  |  | 2021 |
Beginning balance at January 1 |  | $ | 1,627 |  |  | $ | 2,109 |  |  | $ | 2,512 |
Additions to capitalized exploratory well costs pending the determination of proved reserves |  |  | 88 |  |  |  | 72 |  |  |  | 56 |
Reclassifications to wells, facilities and equipment based on the determination of proved reserves |  |  | — |  |  |  | (481 | ) |  |  | (425) |
Capitalized exploratory well costs charged to expense |  |  | (67 | ) |  |  | (73 | ) |  |  | (34) |
Ending balance at December 31 |  | $ | 1,648 |  |  | $ | 1,627 |  |  | $ | 2,109 |
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 |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Exploratory well costs capitalized for a period of one year or less |  | $ | 78 |  |  | $ | 73 |  |  | $ | 65 |
Exploratory well costs capitalized for a period greater than one year |  |  | 1,570 |  |  |  | 1,554 |  |  |  | 2,044 |
Balance at December 31 |  | $ | 1,648 |  |  | $ | 1,627 |  |  | $ | 2,109 |
Number of projects with exploratory well costs that have been capitalized for a period greater than one year * |  |  | 13 |  |  |  | 12 |  |  |  | 15 |
* | Certain projects have multiple wells or fields or both.
Aging of Costs on Well and Project Basis | The $1,570 of suspended well costs capitalized for a period greater than one year as of December 31, 2023, represents 71 exploratory wells in 13 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 |  | $ | 263 |  |  |  | 14 |
2010-2014 |  |  | 1,121 |  |  |  | 49 |
2015-2022 |  |  | 186 |  |  |  | 8 |
Total |  | $ | 1,570 |  |  |  | 71 |
Aging based on drilling completion date of last suspended well in project: |  | Amount |  |  | Number of projects |
2008-2012 |  | $ | 292 |  |  |  | 2 |
2013-2016 |  |  | 1,082 |  |  |  | 6 |
2017-2023 |  |  | 196 |  |  |  | 5 |
Total |  | $ | 1,570 |  |  |  | 13 |

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- Definition Accounting for suspended exploratory wells. + References No definition available. + Details
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- Definition Aging costs on well and project basis. + References No definition available. + Details
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- Definition Suspended well costs disclosure. + References No definition available. + Details
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- Definition Tabular disclosure of the amount of exploratory well costs that have been capitalized after the completion of drilling and the number of projects for which those costs relate. Additionally, for exploratory well costs that have been capitalized for periods greater than one year at the most recent balance sheet date, this block of text may be used to disclose an aging of those amounts by year, or by using a range of years, and the number of projects to which those costs relate. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 1B -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482274/932-235-50-1B + Details
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