Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Components of Property, Plant and Equipment

Property, plant and equipment at December 31 were as follows:

	2023		2022
	(In millions)
Exploration and Production
Unproved properties	$	103	$	149
Proved properties	2,660		2,660
Wells, equipment and related facilities	29,159		25,182
	31,922		27,991
Midstream	4,819		4,571
Corporate and Other	30		30
Total — at cost	36,771		32,592
Less: Reserves for depreciation, depletion, amortization and lease impairment	19,339		17,494
Property, Plant and Equipment — Net	$	17,432	$	15,098

Net Changes in Capitalized Exploratory Well Costs

Capitalized Exploratory Well Costs:  The following table discloses the amount of capitalized exploratory well costs pending determination of proved reserves at December 31 and the changes therein during the respective years:

	2023		2022		2021
	(In millions)
Balance at January 1	$	886	$	681	$	459
Additions to capitalized exploratory well costs pending the determination of proved reserves	257		298		222
Reclassifications to wells, facilities and equipment based on the determination of proved reserves	(133)		(93)		—
Capitalized exploratory well costs charged to expense	(58)		—		—
Balance at December 31	$	952	$	886	$	681
Number of Wells at December 31	43		43		35

Exploratory Drilling Costs Capitalized

Exploratory well costs capitalized for greater than one year following completion of drilling were $728 million at December 31, 2023, separated by year of completion as follows (in millions):

2022	$	261
2021	162
2020	8
2019	139
2018 and prior	158
	$	728