Exploratory Costs

The Company capitalizes exploratory well 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 well and project costs are presented in proved properties in the accompanying consolidated balance sheets. If the exploratory well or project is determined to be impaired, the impaired costs are charged to exploration and abandonments expense.

The following table reflects the Company's capitalized exploratory well and project activity during the three months ended March 31, 2018:



	Three Months Ended March 31, 2018
	(in millions)
Beginning capitalized exploratory well costs	$	505
Additions to exploratory well costs pending the determination of proved reserves	582
Reclassification due to determination of proved reserves	(607		)
Exploratory well costs charged to exploration and abandonment expense	(4		)
Ending capitalized exploratory well costs	$	476

The following table provides an aging as of March 31, 2018 and December 31, 2017 of capitalized exploratory costs and the number of projects for which exploratory well costs have been capitalized for a period greater than one year, based on the date drilling was completed:



	March 31, 2018		December 31, 2017
	(in millions, except well counts)
Capitalized exploratory well costs that have been suspended:
One year or less	$	464	$	493
More than one year	12		12
	$	476	$	505
Number of wells or projects with exploratory well costs that have been suspended for a period greater than one year	7		7

The projects with exploratory well costs that have been suspended for a period greater than one year as of March 31, 2018 are in the Eagle Ford Shale area. The Company is evaluating both the well performance of similar wells completed in 2017 and whether to drill additional wells near these wells in order for all of the wells in the area to be fracture stimulated as a package, thereby improving the resource recovery for the area. The Company expects to complete its evaluation of these seven wells during 2018.