Net changes in capitalized exploratory well costs are presented in the table below. The balance at March 31, 2017, represents the amount of capitalized exploratory well costs that are pending the determination of proved reserves.



	Capitalized Exploratory Well Costs
	2017
	(in millions)
Balance at January 1,	$	14.2
Additions to capitalized exploratory well costs pending the determination of proved reserves	3.6
Balance at March 31,	$	17.8

Capitalized exploratory well costs that have been capitalized for a period of one year or less	$	4.0
Capitalized exploratory well costs that have been capitalized for a period greater than one year	13.8
Total capitalized exploratory well costs	$	17.8

Number of projects with exploratory well costs that have been capitalized for a period greater than one year	1

Central Basin Platform exploration project. As of March 31, 2017, QEP had approximately $13.8 million of exploratory well costs older than one year, all of which related to the Central Basin Platform exploration project in the Permian Basin targeting the Woodford Formation. QEP completed one exploratory well related to this project in the first quarter of 2016 and is currently drilling a second exploratory well that is expected to be completed in the first half of 2017. In addition to the exploratory well costs, QEP has $27.7 million of unproved leasehold costs related to the Central Basin Platform exploration project as of March 31, 2017. QEP will continue to evaluate the performance of both wells to determine the ultimate economic feasibility of this exploration project.