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Suspended Well Costs (Tables)
6 Months Ended
Jun. 30, 2013
Suspended Well Costs  
Schedule of capitalized exploratory well costs

 

 

 

Six months
ended

June 30, 2013

 

 

 

(In thousands)

 

Beginning balance

 

$

372,492

 

Additions to capitalized exploratory well costs pending the determination of proved reserves

 

30,395

 

Reclassification due to determination of proved reserves

 

 

Capitalized exploratory well costs charged to expense

 

(26,997

)

Ending balance

 

$

375,890

 

Schedule of aging of capitalized exploratory well costs and number of projects for which exploratory well costs were capitalized for more than one year

 

 

 

June 30, 2013

 

December 31, 2012

 

 

 

(In thousands, except well counts)

 

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

 

$

41,289

 

$

106,635

 

Exploratory well costs capitalized for a period one to two years

 

214,593

 

179,933

 

Exploratory well costs capitalized for a period three to four years

 

120,008

 

85,924

 

Ending balance

 

$

375,890

 

$

372,492

 

Number of projects that have exploratory well costs that have been capitalized for a period greater than one year

 

7

 

7