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Property, Plant and Equipment (Tables)
 3 Months Ended
Mar. 31, 2024
Property, Plant and Equipment [Abstract]  
Net Changes in Capitalized Exploratory Well Costs The following table reflects the net changes in capitalized exploratory well costs during the three-month periods ended March 31, 2024 and 2023.
(Thousands of dollars)20242023
Beginning balance at January 1$49,118 $171,860 
  Additions pending the determination of proved reserves11,538 24,685 
  Capitalized exploratory well costs charged to expense(26,471)– 
Balance at March 31$34,185 $196,545 
Aging of Capitalized Exploratory Well Costs
The following table provides an aging of capitalized exploratory well costs based on the date the drilling was completed for each individual well and the number of projects for which exploratory well costs have been capitalized. The projects are aged based on the last well drilled in the project.
March 31,
20242023
(Thousands of dollars)AmountNo. of WellsNo. of ProjectsAmountNo. of WellsNo. of Projects
Aging of capitalized well costs:
Zero to one year$11,641 4 3 $40,236 2 2 
One to two years– – – 13,171 2 2 
Two to three years– – – – – – 
Three years or more22,544 3 3 143,138 5 4 
$34,185 7 6 $196,545 9 8