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Suspended Exploratory Well Costs | 9 Months Ended
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Sep. 30, 2014
Extractive Industries [Abstract] |
Suspended Exploratory Well Costs | (7) SUSPENDED EXPLORATORY WELL COSTS We capitalize exploratory well costs until a determination is made that the well has either found proved reserves or that it is impaired. Capitalized exploratory well costs are presented in natural gas and oil properties in the accompanying consolidated balance sheets. If an exploratory well is determined to be impaired, the well costs are charged to exploration expense in the accompanying consolidated statements of operations. The following table reflects the changes in capitalized exploratory well costs for the nine months ended September 30, 2014 and the year ended December 31, 2013 (in thousands except for number of projects):
|  | September 30, 2014 |  |  | December 31, 2013 |
Balance at beginning of period |  | $ | 6,964 |  |  | $ | 57,360 |
Additions to capitalized exploratory well costs pending the determination of proved reserves |  |  | 90,767 |  |  |  | 39,832 |
Reclassifications to wells, facilities and equipment based on determination of proved reserves |  |  | (15,735 | ) |  |  | (84,840 | )
Capitalized exploratory well costs charged to expense |  |  | — |  |  |  | — |
Divested wells |  |  | — |  |  |  | (5,388 | )
Balance at end of period |  |  | 81,996 |  |  |  | 6,964 |
Less exploratory well costs that have been capitalized for a period of one year or less |  |  | (46,412 | ) |  |  | — |
Capitalized exploratory well costs that have been capitalized for a period greater than one year |  | $ | 35,584 |  |  | $ | 6,964 |
Number of projects that have exploratory well costs that have been capitalized for a period greater than one year |  |  | 5 |  |  |  | 1 |
As of September 30, 2014, $35.6 million of capitalized exploratory well costs have been capitalized for more than one year which relates to one well in our Marcellus Shale area where we continue to evaluate pipeline options and opportunities and four wells, also in our Marcellus Shale area, which are expected to be producing in fourth quarter 2014. The following table provides an aging of capitalized exploratory well costs that have been suspended for more than one year as of September 30, 2014 (in thousands):
|  | Total |  | 2014 |  |  | 2013 |  |  | 2012 |  |  | 2011 |
Capitalized exploratory well costs that have been capitalized for more than one year |  | $ | 35,584 |  | $ | 24,484 |  |  | $ | 4,246 |  |  | $ | 6,801 |  |  | $ | 53 |

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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 1B -URI http://asc.fasb.org/extlink&oid=8451039&loc=SL6806780-109447 + Details
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