Capitalized Exploratory Well Costs (Tables)

6 Months Ended

Jun. 30, 2011

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:

	Six Months Ended June 30, 2011
(millions)
Capitalized Exploratory Well Costs, Beginning of Period	$	426
Additions to Capitalized Exploratory Well Costs Pending Determination of Proved Reserves		114
Reclassified to Proved Oil and Gas Properties Based on Determination of Proved Reserves (1)		(53	)
Capitalized Exploratory Well Costs Charged to Expense		(15	)
Capitalized Exploratory Well Costs, End of Period	$	472

Aging of Capitalized Well Costs

The following table provides an aging of capitalized exploratory well costs (suspended well costs) based on the date the drilling was completed and the number of projects for which exploratory well costs have been capitalized for a period greater than one year since the completion of drilling:

	June 30,		December 31,
	2011		2010
(millions)
Exploratory Well Costs Capitalized for a Period of One Year or Less	$	153	$	148
Exploratory Well Costs Capitalized for a Period Greater Than One Year After Completion of Drilling		319		278
Balance at End of Period	$	472	$	426
Number of Projects with Exploratory Well Costs That Have Been Capitalized for a Period Greater Than One Year After Completion of Drilling		10		9

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 completion of drilling as of June 30, 2011:

			Suspended Since
	Total		2010		2009		2008 & Prior
(millions)
Country/Project
Offshore Equatorial Guinea
Blocks O and I	$	102	$	3	$	14	$	85
Offshore Cameroon
YoYo		34		-		-		34
Offshore Israel
Dalit		20		-		20		-
Deepwater Gulf of Mexico
Deep Blue		75		56		19		-
Gunflint		49		-		-		49
Redrock		17		-		-		17
North Sea
Selkirk		20		-		-		20
Other
3 projects of $10 million or less each		2		2		-		-
Total	$	319	$	61	$	53	$	205