Exploratory Well and Project Costs

12 Months Ended

Dec. 31, 2021

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 included in proved properties in the consolidated balance sheets. If the exploratory well or project is determined to be impaired, the impaired costs are recorded in exploration and abandonments in the consolidated statements of operations.

The changes in capitalized exploratory well and project costs are as follows:


	Year Ended December 31,
	2021		2020
	(in millions)
Beginning capitalized exploratory well and project costs	$	498	$	660
Additions to exploratory well and project costs pending the determination of proved reserves	2,935		1,163
Additions to capitalized exploratory well and project costs from acquisitions	235		—
Reclassification due to determination of proved reserves	(2,973)		(1,325)
Disposition of assets	(63)		—

Ending capitalized exploratory well and project costs	$	632	$	498

Aging 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 of drilling was completed, are as follows:


	Year Ended December 31,
	2021		2020		2019
	(in millions, except well counts)
Capitalized exploratory well costs that have been suspended:
One year or less	$	621	$	495	$	660
More than one year	11		3		—
	$	632	$	498	$	660
Number of projects with exploratory well costs that have been suspended for a period greater than one year (a)	3		1		—

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(a)The three outstanding wells that have been suspended for a period greater than one year in 2021 are scheduled to be completed during the first half of 2022. The one exploratory well that was suspended for a period greater than one year in 2020, was completed in 2021.