Capitalized Exploratory Well Costs

6 Months Ended

Jun. 30, 2011

Capitalized Exploratory Well Costs

Capitalized Exploratory Well Costs

Note 7 – Capitalized Exploratory Well Costs

Net changes in capitalized exploratory well costs are presented in the table below and exclude amounts that were capitalized and subsequently expensed in the period. All of these costs have been capitalized for less than one year.

	2011			2010
	(in millions)
Balance at January 1,	$	13.6		$	51.7
Additions to capitalized exploratory well costs pending the determination of proved reserves		—			1.0
Reclassifications to property, plant and equipment after the determination of proved reserves		(7.4	)		(47.9	)
Balance at June 30,	$	6.2		$	4.8