SUSPENDED EXPLORATORY WELL COSTS (Tables)

3 Months Ended

Mar. 31, 2013

The following table reflects the changes in capitalized exploratory well costs for the three months ended March 31, 2013 and the year ended December 31, 2012 (in thousands except for number of projects):


	March 31, 2013	December 31, 2012

Balance at beginning of period	$ 57,360	$ 93,388
Additions to capitalized exploratory well costs pending the determination of proved reserves	62,640	153,250
Reclassifications to wells, facilities and equipment based on determination of proved reserves	(58,601)	(184,298)
Divested wells	—	(4,980)

Balance at end of period	61,399	57,360
Less exploratory well costs that have been capitalized for a period of one year or less	(39,140)	(45,965)

Capitalized exploratory well costs that have been capitalized for a period greater than one year	$ 22,259	$ 11,395

Number of projects that have exploratory well costs that have been capitalized for a period greater than one year	9	5

Aging of Capitalized Exploratory Well Costs Suspended more than One Year

The following table provides an aging of capitalized exploratory well costs that have been suspended for more than one year as of March 31, 2013 (in thousands):

	Total	2013	2012	2011	2010	2009	2008

Capitalized exploratory well costs that have been capitalized for more than one year	$ 22,259	$ 5,854	$ 5,961	$ 5,965	$ 72	$ 2,884	$ 1,523

- Definition

Tabular disclosure of the amount of exploratory well costs that have been capitalized after the completion of drilling and the number of projects for which those costs relate. Additionally, for exploratory well costs that have been capitalized for periods greater than one year at the most recent balance sheet date, this block of text may be used to disclose an aging of those amounts by year, or by using a range of years, and the number of projects to which those costs relate.

+ References+ Details