Accounting for Suspended Exploratory Wells

6 Months Ended

Jun. 30, 2015

Accounting for Suspended Exploratory Wells [Abstract]

Accounting for Suspended Exploratory Wells

Accounting for Suspended Exploratory Wells

The capitalized cost of suspended wells at June 30, 2015, was $3.7 billion, a net decrease of $527 million from year-end 2014. The decrease was primarily due to well write-offs and asset sales, partially offset by drilling activities. During the six months ended June 30, 2015, $466 million of exploratory well costs previously capitalized for greater than one year at December 31, 2014, were charged to expense.