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CAPITALIZED EXPLORATORY WELL COSTS | 12 Months Ended
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Dec. 31, 2022
Extractive Industries [Abstract] |
CAPITALIZED EXPLORATORY WELL COSTS | CAPITALIZED EXPLORATORY WELL COSTS The following summarizes the changes in capitalized exploratory well costs for the years ended December 31, 2022, 2021, and 2020. Additions pending the determination of proved reserves excludes amounts capitalized and subsequently charged to expense within the same year.
|  | For the Year Ended December 31,
|  | 2022 |  | 2021 |  | 2020
|  | (In millions)
Capitalized well costs at beginning of year |  | $ | 321 |  |  | $ | 197 |  |  | $ | 141 |
Additions pending determination of proved reserves |  | 287 |  |  | 174 |  |  | 226 |
Divestitures and other |  | — |  |  | — |  |  | (38) |
Reclassifications to proved properties |  | (110) |  |  | (40) |  |  | (56) |
Charged to exploration expense |  | (24) |  |  | (10) |  |  | (76) |
Capitalized well costs at end of year |  | $ | 474 |  |  | $ | 321 |  |  | $ | 197 |
The following provides an aging of capitalized exploratory 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 as of December 31:
|  | 2022 |  | 2021 |  | 2020
|  | (In millions)
Exploratory well costs capitalized for a period of one year or less |  | $ | 215 |  |  | $ | 198 |  |  | $ | 184 |
Exploratory well costs capitalized for a period greater than one year |  | 259 |  |  | 123 |  |  | 13 |
Capitalized well costs at end of year |  | $ | 474 |  |  | $ | 321 |  |  | $ | 197 |
Number of projects with exploratory well costs capitalized for a period greater than one year |  | 21 |  |  | 13 |  |  | 5 |
Projects with suspended exploratory well costs capitalized for a period greater than one year since the completion of drilling are those identified by management as exhibiting sufficient quantities of hydrocarbons to justify potential development. Management is actively pursuing efforts to assess whether reserves can be attributed to these projects. Suspended exploratory well costs capitalized for a period greater than one year since the completion of drilling were $259 million at December 31, 2022, with $243 million related to Suriname. Analysis of well results is ongoing as is additional exploration and appraisal activity. The remaining projects pertain to onshore drilling activity in Egypt for which continued testing and evaluation is ongoing. Dry hole expenses from suspended exploratory well costs previously capitalized for greater than one year at December 31, 2021 totaled $24 million. These expenses pertain to projects in the North Sea where development is no longer progressing. The following table summarizes aging by geographic area of those exploratory well costs that, as of December 31, 2022, have been capitalized for a period greater than one year, categorized by the year in which drilling was completed:
|  | Total |  | 2021 |  | 2020 |  | 2019 and Prior
|  | (In millions)
Suriname |  | $ | 243 |  |  | $ | 153 |  |  | $ | 90 |  |  | $ | — |
Egypt |  | 14 |  |  | 5 |  |  | — |  |  | 9 |
North Sea |  | 2 |  |  | 2 |  |  | — |  |  | — |
|  | $ | 259 |  |  | $ | 160 |  |  | $ | 90 |  |  | $ | 9 |

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- Definition The entire disclosure for parts or all of the information related to suspended well costs. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 1B -URI https://asc.fasb.org/extlink&oid=126939881&loc=SL6806780-109447 + Details
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