Property, Plant and Equipment

9 Months Ended

Sep. 30, 2011

Property, Plant and Equipment [Abstract]

8. Property, Plant and Equipment

Unevaluated capitalized costs of oil and natural gas operations were as follows:


	September 30,		December 31,
	2011		2010
	(In millions)
U.S.
Acquisition	$	338	$	407
Exploration		119		130

Total U.S		457		537

Brazil & Egypt
Acquisition		34		45
Exploration		45		203

Total Brazil & Egypt		79		248

Worldwide	$	536	$	785

During the quarter and nine months ended September 30, 2011, we released approximately $42 million and $86 million of our unevaluated capitalized costs to our Brazilian full cost pool upon the completion of our evaluation of certain exploratory wells drilled in 2009 and 2010. During the third quarter of 2011, we also released approximately $94 million related to a certain Brazilian development project where we were recently denied a necessary environmental permit. These actions contributed to a ceiling test charge recorded on the Brazilian full cost pool during the third quarter of 2011. See Note 3 for a further discussion. At September 30, 2011, we have total oil and natural gas capitalized costs of approximately $207 million and $71 million in Brazil and Egypt, of which $8 million and $71 million are unevaluated capitalized costs.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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