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Suspended Wells

12 Months Ended

Dec. 31, 2013

Suspended Wells [Abstract]

Suspended Wells

Note 8—Suspended Wells

The following table reflects the net changes in suspended exploratory well costs during 2013, 2012 and 2011:

	Millions of Dollars
	2013			2012		2011

Beginning balance at January 1	$	1,038		1,037		1,013
Additions pending the determination of proved reserves		466		185		96
Reclassifications to proved properties		(29)		(144)		(72)
Sales of suspended well investment		(481)		(18)		-
Charged to dry hole expense		-		(22)		-
Ending balance at December 31	$	994	*	1,038	**	1,037
*Includes $57 million of assets held for sale in Nigeria.
**Includes $190 million of assets held for sale—$133 million in Kazakhstan and $57 million in Nigeria.

The following table provides an aging of suspended well balances at December 31, 2013, 2012 and 2011:

		Millions of Dollars
		2013			2012		2011

Exploratory well costs capitalized for a period of one year or less		$	437		186		115
Exploratory well costs capitalized for a period greater than one year			557		852		922
Ending balance		$	994	*	1,038	**	1,037
Number of projects with exploratory well costs capitalized for a period
	greater than one year		29		35		40
*Includes $57 million of assets held for sale in Nigeria.
**Includes $190 million of assets held for sale—$133 million in Kazakhstan and $57 million in Nigeria.

The following table provides a further aging of those exploratory well costs that have been capitalized
for more than one year since the completion of drilling as of December 31, 2013:

	Millions of Dollars
				Suspended Since
		Total		2010–2012		2007–2009		2002–2006

Alpine Satellite—Alaska⁽²⁾		23		-		-		23
Browse Basin—Australia⁽¹⁾		18		13		5		-
Caldita/Barossa—Australia⁽¹⁾		77		-		-		77
Clair SW—UK⁽¹⁾		15		15		-		-
Fiord West—Alaska⁽²⁾		16		-		16		-
Muskwa—Canada⁽¹⁾		54		54		-		-
NPR-A—Alaska⁽²⁾		17		-		17		-
Nza—Nigeria⁽²⁾⁽³⁾		12		12		-		-
Pisagan—Malaysia⁽²⁾		10		-		-		10
Saleski—Canada⁽¹⁾		17		-		17		-
Shenandoah—Lower 48⁽¹⁾		43		-		43		-
Sunrise 3—Australia⁽²⁾		13		-		13		-
Surmont 3 and beyond—Canada⁽¹⁾		63		37		18		8
Thornbury—Canada⁽¹⁾		19		-		19		-
Tiber—Lower 48⁽¹⁾		40		-		40		-
Ubah—Malaysia⁽²⁾		36		11		25		-
Uge—Nigeria⁽²⁾⁽³⁾		45		15		16		14
Other of $10 million or less each⁽¹⁾⁽²⁾		39		9		13		17
Total	$	557		166		242		149
(1) Additional appraisal wells planned.
(2) Appraisal drilling complete; costs being incurred to assess development.
(3) Assets held for sale as of December 31, 2013 and December 31, 2012.