Exploratory Well Costs (Tables)

12 Months Ended

Dec. 31, 2012

Net Changes In Capitalized Exploratory Well Costs

EOG's net changes in capitalized exploratory well costs for the years ended December 31, 2012, 2011 and 2010 are presented below (in thousands):

			2012		2011		2010

Balance at January 1		$	61,111	$	99,801	$	118,459
	Additions Pending the Determination of Proved Reserves		73,332		31,271		94,090
	Reclassifications to Proved Properties		(69,462)		(29,227)		(93,333)
	Costs Charged to Expense ⁽¹⁾		(17,115)		(42,178)		(20,267)
	Foreign Currency Translations		1,250		1,444		852
Balance at December 31		$	49,116	$	61,111	$	99,801

(1) Includes capitalized exploratory well costs charged to either dry hole costs or impairments.

Aging of Capitalized Exploratory Well Costs

The following table provides an aging of capitalized exploratory well costs at December 31, 2012, 2011 and 2010 (in thousands, except well count):

			2012			2011			2010

Capitalized exploratory well costs that have been capitalized for a period less than one year		$	28,319		$	17,009		$	43,408
Capitalized exploratory well costs that have been capitalized for a period greater than one year			20,797	⁽¹⁾		44,102	⁽²⁾		56,393	⁽³⁾
	Total	$	49,116		$	61,111		$	99,801
Number of exploratory wells that have been capitalized for a period greater than one year			1			4			4

(1)

Consists of costs related to an outside operated, offshore Central North Sea natural gas project in the United Kingdom (U.K.). In the Central North Sea Columbus project, a revised field development plan was submitted to the U.K. Department of Energy and Climate Change during the third quarter of 2012. The project participants are currently negotiating commercial agreements.

(2)

Consists of costs related to an outside operated, offshore Central North Sea project in the United Kingdom (U.K.) ($20 million), an East Irish Sea project in the U.K. ($9 million), a project in the Sichuan Basin, Sichuan Province, China ($9 million), and a shale project in British Columbia, Canada (B.C.) ($6 million).

(3)	Consists of costs related to an outside operated, offshore Central North Sea project in the U.K. ($21 million), an East Irish Sea project in the U.K. ($9 million), a project in the Sichuan Basin, Sichuan Province, China ($20 million), and a shale project in B.C. ($6 million).

- Definition

Tabular disclosure of the amount of exploratory well costs that have been capitalized after the completion of drilling and the number of projects for which those costs relate. Additionally, for exploratory well costs that have been capitalized for periods greater than one year at the most recent balance sheet date, this block of text may be used to disclose an aging of those amounts by year, or by using a range of years, and the number of projects to which those costs relate.

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