Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Components of Property, Plant and Equipment

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

	2024		2023
	(In millions)
Exploration and Production
Unproved properties	$	179	$	103
Proved properties	2,638		2,660
Wells, equipment and related facilities	33,059		29,159
	35,876		31,922
Midstream	5,117		4,819
Corporate and Other	30		30
Total — at cost	41,023		36,771
Less: Reserves for depreciation, depletion, amortization and lease impairment	21,102		19,339
Property, Plant and Equipment — Net	$	19,921	$	17,432

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:

	2024		2023		2022
	(In millions)
Balance at January 1	$	952	$	886	$	681
Additions to capitalized exploratory well costs pending the determination of proved reserves	225		257		298
Reclassifications to wells, facilities and equipment based on the determination of proved reserves	(117)		(133)		(93)
Capitalized exploratory well costs charged to expense	(50)		(58)		—
Balance at December 31	$	1,010	$	952	$	886
Number of Wells at December 31	40		43		43

Exploratory Drilling Costs Capitalized

Exploratory well costs capitalized for greater than one year following completion of drilling were $787 million at December 31, 2024, separated by year of completion as follows (in millions):

2023	$	214
2022	218
2021	106
2020	8
2019 and prior	241
	$	787