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EXPLORATORY WELL COSTS | 3 Months Ended
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Mar. 31, 2022
Exploratory Well Cost [Abstract] |
EXPLORATORY WELL COSTS | EXPLORATORY WELL COSTS Exploratory well costs are initially capitalized as proved property in the consolidated balance sheets but charged to exploration expense if and when the well is determined not to have found commercial proved oil and gas reserves, it is impaired or it is sold. The changes in capitalized exploratory well costs are as follows:
| Three Months Ended March 31,
| 2022 |  |
| (In thousands)
Beginning capitalized exploratory project costs | $ | 6,966 |  |  |
Additions to exploratory project costs pending the determination of proved reserves | 11,557 |  |  |
Ending capitalized exploratory project costs | $ | 18,523 |  |  |
As of March 31, 2022 and December 31, 2021, the Company had no exploratory wells for which costs have been capitalized for a period greater than one year.

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- Definition Exploratory Well Costs Disclosure + References No definition available. + Details
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