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CAPITALIZED EXPLORATORY WELL COSTS (Tables) | 12 Months Ended
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Dec. 31, 2023
Extractive Industries [Abstract] |
Schedule of Capitalized Exploratory Well Costs, Roll Forward | The following summarizes the changes in capitalized exploratory well costs for the years ended December 31, 2023, 2022, and 2021. 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,
|  | 2023 |  | 2022 |  | 2021
|  | (In millions)
Capitalized well costs at beginning of year |  | $ | 474 |  |  | $ | 321 |  |  | $ | 197 |
Additions pending determination of proved reserves |  | 265 |  |  | 287 |  |  | 174 |
Reclassifications to proved properties |  | (135) |  |  | (110) |  |  | (40) |
Charged to exploration expense |  | (18) |  |  | (24) |  |  | (10) |
Capitalized well costs at end of year |  | $ | 586 |  |  | $ | 474 |  |  | $ | 321 |
Schedule of Aging of Capitalized Exploratory Well Costs | 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:
|  | 2023 |  | 2022 |  | 2021
|  | (In millions)
Exploratory well costs capitalized for a period of one year or less |  | $ | 156 |  |  | $ | 215 |  |  | $ | 198 |
Exploratory well costs capitalized for a period greater than one year |  | 430 |  |  | 259 |  |  | 123 |
Capitalized well costs at end of year |  | $ | 586 |  |  | $ | 474 |  |  | $ | 321 |
Number of projects with exploratory well costs capitalized for a period greater than one year |  | 33 |  |  | 21 |  |  | 13 |
Schedule of Projects with Exploratory Well Costs Capitalized for More than One Year | The following table summarizes aging by geographic area of those exploratory well costs that, as of December 31, 2023, have been capitalized for a period greater than one year, categorized by the year in which drilling was completed:
|  | Total |  | 2022 |  | 2021 |  | 2020 and Prior
|  | (In millions)
Suriname |  | $ | 421 |  |  | $ | 178 |  |  | $ | 153 |  |  | $ | 90 |
Egypt |  | 9 |  |  | — |  |  | — |  |  | 9 |
|  | $ | 430 |  |  | $ | 178 |  |  | $ | 153 |  |  | $ | 99 |

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- Definition Tabular disclosure of the change in capitalized exploratory costs during the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 1B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482274/932-235-50-1B + 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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- Definition Tabular disclosure of exploratory well costs that continue to be capitalized for more than one year after the completion of drilling. Information may include a description of the projects and the activities that the enterprise has undertaken to date in order to evaluate the reserves and the projects, and the remaining activities required to classify the associated reserves as proved. + 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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