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Property, Plant and Equipment (Tables) | 3 Months Ended
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Mar. 31, 2021
Property, Plant and Equipment [Abstract] |
Net Changes in Capitalized Exploratory Well Costs | The following table reflects the net changes in capitalized exploratory well costs during the three-month periods ended March 31, 2021 and 2020.
(Thousands of dollars) | 2021 |  | 2020
Beginning balance at January 1 | $ | 181,616 |  |  | 217,326 |
Additions pending the determination of proved reserves | 785 |  |  | 816 |
Capitalized exploratory well costs charged to expense | — |  |  | (39,709) |
Balance at March 31 | $ | 182,401 |  |  | 178,433 |
Aging of Capitalized Exploratory Well Costs | The following table provides an aging of capitalized exploratory well costs based on the date the drilling was completed for each individual well and the number of projects for which exploratory well costs have been capitalized. The projects are aged based on the last well drilled in the project.
| March 31,
| 2021 |  | 2020
(Thousands of dollars) | Amount |  | No. of Wells |  | No. of Projects |  | Amount |  | No. of Wells |  | No. of Projects
Aging of capitalized well costs: |  |  |  |  |  |  |  |  |  |  |
Zero to one year | $ | — |  |  | — |  |  | — |  |  | 24,637 |  |  | 3 |  |  | 3 |
One to two years | 23,514 |  |  | 3 |  |  | 3 |  |  | 31,541 |  |  | 2 |  |  | 2 |
Two to three years | 30,562 |  |  | 2 |  |  | 2 |  |  | — |  |  | — |  |  | — |
Three years or more | 128,325 |  |  | 6 |  |  | — |  |  | 122,255 |  |  | 6 |  |  | — |
| $ | 182,401 |  |  | 11 |  |  | 5 |  |  | 178,433 |  |  | 11 |  |  | 5 |
Schedule of Recognized Impairments | The following table reflects the recognized impairments for the three months ended March 31, 2021 and 2020.
| Three Months Ended March 31,
(Thousands of dollars) | 2021 |  | 2020
U.S. | $ | — |  |  | 927,821 |
Canada | 171,296 |  |  | — |
Other Foreign | — |  |  | 39,709 |
| $ | 171,296 |  |  | 967,530 |

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 1B -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=68064819&loc=SL6806780-109447 + Details
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- Definition Tabular disclosure for impairment of long-lived assets held and used by an entity which includes a description of the impaired long-lived asset and facts and circumstances leading to the impairment, aggregate amount of the impairment loss and where the loss is located in the income statement, method(s) for determining fair value, and the segment in which the impaired long-lived asset is reported. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109226691&loc=d3e2921-110230 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.CC) -URI http://asc.fasb.org/extlink&oid=27011434&loc=d3e125687-122742 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 1B -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=68064819&loc=SL6806780-109447 + Details
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