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Capitalized Exploratory Well Costs and Undeveloped Leasehold Costs (Tables)
 12 Months Ended
Dec. 31, 2017
Capitalized Exploratory Well Costs [Abstract]  
Changes in Capitalized Exploratory Well Costs
Changes in capitalized exploratory well costs are as follows and exclude amounts that were capitalized and subsequently expensed in the same period:
 
Year Ended December 31,
(millions)
2017
 
2016
 
2015
Capitalized Exploratory Well Costs, Beginning of Period
$
768

 
$
1,353

 
$
1,337

Additions to Capitalized Exploratory Well Costs Pending Determination of Proved Reserves
20

 
84

 
123

Divestitures and Other (1)
—

 
(143
)
 
—

Reclassified to Proved Oil and Gas Properties Based on Determination of Proved Reserves or to Assets Held for Sale (2)
(203
)
 
(1
)
 
(19
)
Capitalized Exploratory Well Costs Charged to Expense (3)
(65
)
 
(525
)
 
(88
)
Capitalized Exploratory Well Costs, End of Period
$
520

 
$
768

 
$
1,353


(1) The 2016 amount relates to the farm-down of a 35% interest in Block 12 offshore Cyprus to a new partner.
(2) The 2017 amount relates to the approval and sanction of the first phase of development of the Leviathan field, offshore Israel.
The 2015 amount relates primarily to US onshore exploration activity.
(3) Capitalized exploratory well costs charged to expense are included within exploration or impairment expense in our consolidated statements of operations.
Aging of Capitalized Well Costs
The following table provides an aging of capitalized exploratory well costs based on the date that drilling commenced, and the number of projects that have been capitalized for a period greater than one year:
 
December 31,
(millions)
2017
 
2016
 
2015
Exploratory Well Costs Capitalized for a Period of One Year or Less
$
10

 
$
69

 
$
95

Exploratory Well Costs Capitalized for a Period Greater Than One Year Since Commencement of Drilling
510

 
699

 
1,258

Balance at End of Period
$
520

 
$
768

 
$
1,353

Number of Projects with Exploratory Well Costs That Have Been Capitalized for a Period Greater Than One Year Since Commencement of Drilling
8

 
10

 
14
Aging of Exploratory Well Costs
The following table provides a further aging of those exploratory well costs that have been capitalized for a period greater than one year since the commencement of drilling as of December 31, 2017:
 
 
 
Suspended Since
 
 
Country/Project
(millions)
Total
 
2015 - 2016
 
2013 - 2014
 
2012 & Prior
 
Progress
Gulf of Mexico
 
 
 
 
 
 
 
 
 
Katmai
$
147

 
$
56

 
$
91

 
$
—

 
Progressing a development scenario for this 2014 crude oil discovery. We are currently conducting feasibility and front-end engineering and design studies on host platform options.
Offshore Equatorial Guinea
 
 
 
 
 
 
 
 
 
Felicita (Block O)
47

 
3

 
12

 
32

 
Evaluating regional development scenarios for this 2008 gas discovery. During 2014, we conducted additional seismic activity over Blocks I and O and in early 2016, we began analyzing, interpreting and evaluating the acquired seismic data.
Yolanda (Block I)
23

 
1

 
6

 
16

 
A data exchange agreement for the 2007 Yolanda condensate and natural gas discovery has been executed between the governments of Equatorial Guinea and Cameroon. Our natural gas development team is working with the governments of Equatorial Guinea and Cameroon to evaluate natural gas monetization options for both Yolanda and YoYo (Cameroon) discoveries.
Offshore Cameroon
 

 
 

 
 

 
 

 
 
YoYo (YoYo Block)
55

 
4

 
6

 
45

 
A data exchange agreement for the 2007 YoYo condensate and natural gas discovery has been executed between the governments of Equatorial Guinea and Cameroon. Our natural gas development team is working with both governments to evaluate natural gas monetization options for both Yolanda (Equatorial Guinea) and YoYo discoveries. In June 2017, we converted our mining concession license for the YoYo block into a PSC.
Offshore Israel
 

 
 

 
 

 
 

 
 
Leviathan-1 Deep
91

 
8

 
10

 
73

 
The well did not reach the target interval in 2012. We continue to reprocess and review seismic information for this discovery, based on information obtained from other recent discoveries in the region, and develop future drilling plans to test this deep oil concept, which is held by the Leviathan Development and Production Leases.
Dalit
32

 
3

 
5

 
24

 
Our future development plan was approved by the Government of Israel to develop this 2009 natural gas discovery with a tie-in to existing infrastructure at Tamar. See also Note 4. Acquisitions, Divestitures and Merger.
Offshore Cyprus
 
 
 
 
 
 
 
 
 
Cyprus
97

 
15

 
52

 
30

 
In 2016, we farmed-down a 35% interest in Block 12 and submitted an updated development plan. We continue to work with the Government of Cyprus to obtain approval of the development plan and the subsequent issuance of an Exploitation License. Receiving an Exploitation License will allow us and our partners to perform the necessary engineering and design studies and progress the project to final investment decision. During 2017, we submitted an updated development plan, progressed capital project cost improvement and continued regional natural gas marketing efforts.
Other
 

 
 

 
 

 
 

 
 
Projects less than $20 million
18

 
(9
)
 
21

 
6

 
Continuing to assess and evaluate wells.
Total
$
510

 
$
81

 
$
203

 
$
226