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CAPITALIZED EXPLORATORY WELL COSTS
3 Months Ended
Mar. 31, 2022
Extractive Industries [Abstract]  
CAPITALIZED EXPLORATORY WELL COSTS CAPITALIZED EXPLORATORY WELL COSTS
The Company’s capitalized exploratory well costs were $389 million and $321 million as of March 31, 2022 and December 31, 2021, respectively. The increase is primarily attributable to additional drilling activity in Suriname and Egypt.
Projects with suspended exploratory well costs capitalized for a period greater than one year since the completion of drilling are those identified by management as exhibiting sufficient quantities of hydrocarbons to justify potential development. Management is actively pursuing efforts to assess whether proved reserves can be attributed to these projects.