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Note 6 - Exploratory Extension Well Costs | 9 Months Ended
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Sep. 30, 2023
Notes to Financial Statements |
Exploratory Well Costs [Text Block] | NOTE 6. Exploratory/Extension Well Costs The Company capitalizes exploratory/extension wells and project costs until a determination is made that the well or project has either found proved reserves, is impaired or is sold. The Company’s capitalized exploratory/extension well and project costs are included in proved properties in the consolidated balance sheets. If the exploratory/extension well or project is determined to be impaired, the impaired costs are charged to exploration and abandonments expense. The changes in capitalized exploratory/extension well costs are as follows (in thousands):
|  | Nine Months Ended September 30, 2023 |
Beginning capitalized exploratory/extension well costs |  | $ | 186,427 |
Additions to exploratory/extension well costs |  |  | 416,091 |
Reclassification to proved properties |  |  | (551,217 | )
Exploratory/extension well costs charged to exploration and abandonment expense |  |  | — |
Ending capitalized exploratory/extension well costs |  | $ | 51,301 |
All capitalized exploratory/extension well costs have been capitalized for less than one year based on the date of drilling.

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- Definition The entire disclosure for exploratory well costs. + References No definition available. + Details
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- References No definition available. + Details
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