7. Exploratory Well Costs

EOG's net changes in capitalized exploratory well costs for the nine-month period ended September 30, 2012 are presented below (in thousands):

	Nine Months Ended
	September 30, 2012

Balance at December 31, 2011	$	61,111
Additions Pending the Determination of Proved Reserves		69,533
Reclassifications to Proved Properties		(53,060	)
Charged to Dry Hole Costs		(11,179	)
Foreign Currency Translations		1,305
Balance at September 30, 2012	$	67,710

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EOG RESOURCES, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
(Unaudited)

The following table provides an aging of capitalized exploratory well costs at September 30, 2012 (in thousands, except well count):

	At
	September 30,
	2012

Capitalized exploratory well costs that have been capitalized for a period less than one year	$	40,650
Capitalized exploratory well costs that have been capitalized for a period greater than one year		27,060	⁽¹⁾
Total	$	67,710
Number of exploratory wells that have been capitalized for a period greater than one year		2

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(1)

Consists of costs related to an outside operated, offshore Central North Sea natural gas project in the United Kingdom (U.K.) ($21 million) and a shale project in the Horn River Basin area of British Columbia, Canada (B.C.) ($6 million). In the Central North Sea Columbus project, a revised field development plan was submitted to the U.K. Department of Energy and Climate Change during the third quarter of 2012. In the B.C. shale project, EOG drilled seven wells in the first nine months of 2012 to retain land and further evaluate the project.