Suspended Well Costs (Tables)

3 Months Ended

Mar. 31, 2017

Suspended Well Costs

Schedule of capitalized exploratory well costs

	March 31,
	2017
	(In thousands)
Beginning balance	$	734,463
Additions to capitalized exploratory well costs pending the determination of proved reserves		476
Reclassification due to determination of proved reserves		—
Divestitures(1)		(206,400)
Contribution of oil and gas property to equity method investment		(131,764)
Capitalized exploratory well costs charged to expense		—
Ending balance	$	396,775

Represents the reduction in basis of suspended well costs associated with the Mauritania and Senegal tranasactions with BP.

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

	March 31, 2017		December 31, 2016
	(In thousands, except well counts)
Exploratory well costs capitalized for a period of one year or less	$	3,717	$	279,809
Exploratory well costs capitalized for a period of one to two years		179,397		244,804
Exploratory well costs capitalized for a period of three to eight years		213,661		209,850
Ending balance	$	396,775	$	734,463
Number of projects that have exploratory well costs that have been capitalized for a period greater than one year		5		5