v3.19.3.a.u2
Impairments
12 Months Ended
Dec. 31, 2019
Impairment Of Long Lived Assets [Abstract]  
Impairments
Note 9—Impairments
During 2019, 2018 and 2017, we recognized the
 
following before-tax impairment charges:
Millions of Dollars
2019
2018
2017
Alaska
$
-
20
180
Lower 48
402
63
3,969
Canada
2
9
22
Europe and North Africa
1
(79)
46
Asia Pacific and Middle East
-
14
2,384
$
405
27
6,601
2019
In the Lower 48, we recorded impairments
 
of $
402
 
million, primarily related to developed properties
 
in our
Niobrara asset which were written down to fair value
 
less costs to sell.
 
See Note 5—Asset Acquisitions and
Dispositions,
 
for additional information on this disposition.
 
The charges discussed below, within this section, are included in the “Exploration
 
expenses” line on our
consolidated income statement and are not reflected
 
in the table above.
 
In our Lower 48 segment, we recorded a before-tax impairment
 
of $
141
 
million for the associated carrying
value of capitalized undeveloped leasehold costs
 
due to our decision to discontinue exploration
 
activities
related to our Central Louisiana Austin Chalk
 
acreage.
 
2018
In Alaska, we recorded impairments of $
20
 
million primarily due to cancelled projects.
 
 
In the Lower 48, we recorded impairments
 
of $
63
 
million, primarily related to developed properties
 
in our
Barnett asset which were written down to fair value
 
less costs to sell, partly offset by a revision to reflect
finalized proceeds on a separate transaction.
 
 
In our Europe and North Africa segment, we recorded
 
a credit to impairment of $
79
 
million, primarily due to
decreased ARO estimates on fields in the
 
U.K. which have ceased production and
 
were impaired in prior years,
partly offset by an increased ARO estimate on a field
 
in Norway which has ceased production.
 
 
 
2017
 
In Alaska, we recorded impairments of $
180
 
million primarily for the associated PP&E
 
carrying value of our
small interest in the Point Thomson unit.
 
 
In the Lower 48, we recorded impairments
 
of $
3,969
 
million primarily due to certain developed
 
properties
which were written down to fair value less costs
 
to sell.
 
See Note 5—Asset Acquisitions and Dispositions, for
additional information on our dispositions.
 
 
In Canada, we recorded impairments of $
22
 
million primarily due to cancelled projects.
 
In Europe and North Africa, we recorded impairments
 
of $
46
 
million primarily due to reduced volume
forecasts for a field in the U.K. and restructured ownership
 
and a change in commercial premises for a gas
processing plant in Norway, partly offset by decreased ARO estimates on fields at or
 
nearing the end of life
which were impaired in prior years.
 
In Asia Pacific and Middle East, we recorded impairments
 
of $
2,384
 
million, including the impairment of our
APLNG investment.
 
For more information, see the “APLNG”
 
section of Note 6—Investments, Loans and
Long-Term Receivables.
 
 
The charges discussed below, within this section, are included in the “Exploration
 
expenses” line on our
consolidated income statement and are not reflected
 
in the table above.
 
In our Lower 48 segment, we recorded a before-tax impairment
 
of $
51
 
million for the associated carrying
value of capitalized undeveloped leasehold costs
 
of Shenandoah in deepwater Gulf of Mexico
 
following the
suspension of appraisal activity by the operator.
 
Additionally, we recorded a $
38
 
million before-tax
impairment for mineral assets primarily
 
due to plan of development changes.