Accounting for Suspended Exploratory Wells

9 Months Ended

Sep. 30, 2018

Accounting for Suspended Exploratory Wells [Abstract]

Accounting for Suspended Exploratory Wells

Accounting for Suspended Exploratory Wells

The capitalized cost of suspended wells at September 30, 2018, was $3.6 billion, a net decrease of $124 million from year-end 2017. The decrease was primarily due to well write-offs, partially offset by drilling activities. During the nine months ended September 30, 2018, $313 million of exploratory well costs previously capitalized for greater than one year at December 31, 2017, were charged to expense.