Capitalized Exploratory Well Costs (Tables)

12 Months Ended

Dec. 31, 2016

Capitalized Exploratory Well Costs, Roll Forward

The following summarizes the changes in capitalized exploratory well costs for each of the last three years ended December 31, 2016, 2015, and 2014. Additions pending the determination of proved reserves excludes amounts capitalized and subsequently charged to expense within the same year.



	2016			2015			2014
	(In millions)
Balance at January 1	$	245		$	849		$	630
Additions pending determination of proved reserves	249			382			622
Divestitures and other	—			(557		)	(54		)
Reclassifications to proved properties	(211		)	(369		)	(207		)
Charged to exploration expense	(19		)	(60		)	(142		)
Balance at December 31⁽¹⁾	$	264		$	245		$	849

⁽¹⁾Includes $49 million of assets that were held for sale in Australia at December 31, 2014.

Schedule of Aging of Capitalized Exploratory Well Costs

The following provides an aging of capitalized exploratory well costs and the number of projects for which exploratory well costs have been capitalized for a period greater than one year since the completion of drilling:



	2016		2015		2014
	(In millions)
Exploratory well costs capitalized for a period of one year or less	$	119	$	184	$	504
Exploratory well costs capitalized for a period greater than one year	145		61		345
Balance at December 31⁽¹⁾	$	264	$	245	$	849

Number of projects with exploratory well costs capitalized for a period greater than one year	3		2		18

⁽¹⁾Includes $49 million of assets that were held for sale in Australia at December 31, 2014.

Schedule of Projects with Exploratory Well Costs Capitalized for More than One Year

The following summarizes a further aging by geographic area of those exploratory well costs that have been capitalized for a period greater than one year since the completion of drilling at December 31, 2016:



							2013 and
	Total		2015		2014		Prior

North Sea	$	113	$	53	$	58	$	2
Other International	32		28		3		1
	$	145	$	81	$	61	$	3