Exploratory Well Costs (Tables)

3 Months Ended

Mar. 31, 2012

Exploratory Well Costs [Abstract]

Net Changes In Capitalized Exploratory Well Costs

EOG's net changes in capitalized exploratory well costs for the three-month period ended March 31, 2012 are presented below (in thousands):

	Three Months Ended
	March 31, 2012
Balance at December 31, 2011	$	61,111
Additions Pending the Determination of Proved Reserves		51,164
Reclassifications to Proved Properties		(116	)
Charged to Dry Hole Costs		-
Foreign Currency Translations		1,074
Balance at March 31, 2012	$	113,233

Aging of Capitalized Exploratory Well Costs

The following table provides an aging of capitalized exploratory well costs at March 31, 2012 (in thousands, except well count):

	At
	March 31,
	2012
Capitalized exploratory well costs that have been capitalized for a period less than one year	$	68,173
Capitalized exploratory well costs that have been capitalized for a period greater than one year		45,060	(1)
Total	$	113,233
Number of exploratory wells that have been capitalized for a period greater than one year		4

(1) Consists of costs related to an outside operated, offshore Central North Sea project in the United Kingdom (U.K.) ($20 million), a project in the Sichuan Basin, Sichuan Province, China ($10 million), an East Irish Sea project in the U.K. ($9 million) and a shale project in British Columbia, Canada (B.C.) ($6 million).  In the Central North Sea project, the operator and partners are currently negotiating processing and transportation terms with export infrastructure owners.  The operator submitted a revised field development plan to the U.K. Department of Energy and Climate Change (DECC) during the second quarter of 2011 and anticipates receiving approval of this plan during the first half of 2012.  The evaluation of the Sichuan Basin project is expected to be completed by the end of 2012.  In the East Irish Sea project, EOG received DECC regulatory approval of its field development plan in March 2012.  Fabrication of facilities and pipelines is progressing.  EOG expects to begin facility and pipeline installation in the second half of 2012.  The drilling of development wells is expected to commence at the beginning of 2013, with initial production expected in the second half of 2013.  In the B.C. shale project, EOG drilled three wells during the first quarter of 2012 and expects to drill four additional wells by the end of the first half of 2012 to retain land and further evaluate the project.  The related well completion activities are not expected to commence until 2013 or later.