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Exploratory Well Costs | 3 Months Ended
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Mar. 31, 2013
Exploratory Well Costs [Abstract] |
Exploratory Well Costs [Text Block] |
7. | Exploratory Well Costs
EOG's net changes in capitalized exploratory well costs for the three-month period ended March 31, 2013 are presented below (in thousands):
|  | Three Months Ended |
|  | March 31, 2013 |
Balance at December 31, 2012 |  | $ | 49,116 |
Additions Pending the Determination of Proved Reserves |  |  | 51,797 |
Reclassifications to Proved Properties |  |  | - |
Costs Charged to Expense (1) |  |  | (1,616 | )
Foreign Currency Translations |  |  | (1,546 | )
Balance at March 31, 2013 |  | $ | 97,751 |
| (1) | Includes capitalized exploratory well costs charged to either dry hole costs or impairments.
EOG RESOURCES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued) (Unaudited) The following table provides an aging of capitalized exploratory well costs at March 31, 2013 (in thousands, except well count):
|  | At |  |  |  |
|  | March 31, |  |  |  |
|  | 2013 |  |  |  |
Capitalized exploratory well costs that have been capitalized for a period less than one year |  | $ | 70,633 |  |  |  |
Capitalized exploratory well costs that have been capitalized for a period greater than one year |  |  | 27,118 | (1) |  |  |  |
Total |  | $ | 97,751 |  |  |  |  |
Number of exploratory wells that have been capitalized for a period greater than one year |  |  | 2 |  |  |  |  |
| (1) | Consists of costs related to an outside operated, offshore Central North Sea natural gas project in the United Kingdom ($19 million) and costs associated with evaluation of a project in Central Alberta, Canada ($8 million). In the Central North Sea Columbus project, the operator and partners are currently re-evaluating export route options as a result of an announced change in plans by the export infrastructure owners. In the Central Alberta project, EOG is currently evaluating alternatives for the well and surrounding acreage.

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- Definition The entire disclosure for parts or all of the information related to suspended well costs. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61939-109447 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Staff Position (FSP) -Number FAS19-1 -Paragraph 10 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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