XML 23 R13.htm IDEA: XBRL DOCUMENT

CAPITALIZED EXPLORATORY WELL COSTS	9 Months Ended
CAPITALIZED EXPLORATORY WELL COSTS	Sep. 30, 2021
Extractive Industries [Abstract]
CAPITALIZED EXPLORATORY WELL COSTS	CAPITALIZED EXPLORATORY WELL COSTS The Company’s capitalized exploratory well costs were $54 million and $197 million as of September 30, 2021 and December 31, 2020, respectively. The decrease is primarily attributable to the completion of the Holding Company Reorganization in which the Company sold its interests in Suriname, including approximately $135 million of exploratory well costs as of December 31, 2020, to APA. Refer to Note 2—Transactions with Parent Affiliate for more detail. The remaining exploratory well costs relate to North Sea offshore wells and Egypt onshore wells where additional drilling activity was offset by dry hole write-offs during the period. 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.