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Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2017
Extractive Industries [Abstract]  
Property, Plant and Equipment

13.Property, Plant and Equipment

 

Capitalized Costs

 

The following tables reflect the aggregate capitalized costs related to Devon’s oil and gas and non-oil and gas activities.

 

 

 

December 31, 2017

 

 

 

U.S.

 

 

Canada

 

 

Total

 

Proved

 

$

40,491

 

 

$

6,804

 

 

$

47,295

 

Unproved and properties under development

 

 

984

 

 

 

1,473

 

 

 

2,457

 

Total oil and gas

 

 

41,475

 

 

 

8,277

 

 

 

49,752

 

Accumulated DD&A

 

 

(32,379

)

 

 

(4,055

)

 

 

(36,434

)

Oil and gas property and equipment, net

 

$

9,096

 

 

$

4,222

 

 

$

13,318

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2016

 

 

 

U.S.

 

 

Canada

 

 

Total

 

Proved

 

$

38,842

 

 

$

6,163

 

 

$

45,005

 

Unproved and properties under development

 

 

2,115

 

 

 

1,277

 

 

 

3,392

 

Total oil and gas

 

 

40,957

 

 

 

7,440

 

 

 

48,397

 

Accumulated DD&A

 

 

(31,979

)

 

 

(3,420

)

 

 

(35,399

)

Oil and gas property and equipment, net

 

$

8,978

 

 

$

4,020

 

 

$

12,998

 

 

 

 

December 31,

 

 

 

2017

 

 

2016

 

EnLink

 

$

9,120

 

 

$

8,381

 

Devon

 

 

1,955

 

 

 

1,919

 

Total midstream and other

 

 

11,075

 

 

 

10,300

 

EnLink

 

 

(2,533

)

 

 

(2,124

)

Devon

 

 

(689

)

 

 

(641

)

Total accumulated DD&A

 

 

(3,222

)

 

 

(2,765

)

Midstream and other property and equipment, net

 

$

7,853

 

 

$

7,535

 

 

 

Suspended Exploratory Well Costs

The following summarizes the changes in suspended exploratory well costs for the three years ended December 31, 2017.

 

 

 

Year Ended December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Beginning balance

 

$

261

 

 

$

225

 

 

$

199

 

Additions pending determination of proved reserves

 

 

504

 

 

 

247

 

 

 

348

 

Charges to exploration expense

 

 

—

 

 

 

(29

)

 

 

(5

)

Reclassifications to proved properties

 

 

(466

)

 

 

(189

)

 

 

(285

)

Foreign currency translation adjustment

 

 

14

 

 

 

7

 

 

 

(32

)

Ending balance

 

$

313

 

 

$

261

 

 

$

225

 

 

The following table provides an aging of capitalized well costs and the number of projects for which exploratory well costs have been capitalized for a period greater than one year since the completion of drilling.

 

 

 

Year Ended December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Exploratory well costs capitalized for a period of one year or less

 

$

113

 

 

$

88

 

 

$

60

 

Exploratory well costs capitalized for a period greater than one year

 

 

200

 

 

 

173

 

 

 

165

 

Ending balance

 

$

313

 

 

$

261

 

 

$

225

 

Number of projects with exploratory well costs capitalized for a

   period greater than one year

 

 

2

 

 

 

2

 

 

 

2

 

 

Projects with suspended exploratory well costs capitalized for a period greater than one year since the completion of drilling relate to Devon’s heavy oil operations. Management believes these projects with suspended exploratory well costs exhibit sufficient quantities of hydrocarbons to justify potential development. Devon continues to assess the development timeline of these long cycle projects.