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Suspended Exploratory Well Costs (Tables)
12 Months Ended
Dec. 31, 2014
Extractive Industries [Abstract]  
Suspended Exploratory Well Costs

The following table reflects the changes in capitalized exploratory well costs for the years ended December 31, 2014, 2013 and 2012 (in thousands, except for number of projects):

 

2014

 

2013

 

 

2012

 

Balance at beginning of period

$

6,964

 

$

57,360

 

 

$

93,388

 

Additions to capitalized exploratory well costs pending the determination of proved reserves

 

18,747

 

 

39,832

 

 

 

153,250

 

Reclassifications to wells, facilities and equipment based on determination of proved reserves

 

(15,735

)

 

(84,840

)

 

 

(184,298

)

Divested wells

 

¾

 

 

¾

 

 

 

(4,980

)

Capitalized exploratory well costs charged to expense

 

(6,980

)

 

(5,388

)

 

 

 

Balance at end of period

 

2,996

 

 

6,964

 

 

 

57,360

 

Less exploratory well costs that have been capitalized for a period of one year or less

 

(2,996

)

 

¾

 

 

 

(45,965

)

Capitalized exploratory well costs that have been capitalized for a period greater than one year

$

¾

 

$

6,964

 

 

$

11,395

 

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

 

¾

 

 

1

 

 

 

5