v3.22.0.1
Suspended Wells and Exploration Expenses
 12 Months Ended
Dec. 31, 2021
Suspended Wells and Exploration Expenses [Abstract]  
Suspended Wells and Exploration Expenses
Note 6—Suspended Wells and
 
Exploration Expenses
The following table reflects the net
 
changes in suspended exploratory
 
well costs during 2021, 2020 and 2019:
Millions of Dollars
2021
2020
2019
Beginning balance at January 1
$
682
1,020
856
Additions pending the determination of proved
 
reserves
10
164
239
Reclassifications to proved
 
properties
-
(42)
(11)
Sales of suspended wells
-
(313)
(54)
Charged to dry hole expense
 
(32)
(147)
(10)
Ending balance at December 31
 
$
660
682
1,020
*
*Includes $
313
 
million of assets held for sale in Australia-West at December 31, 2019.
For additional details on suspended wells charged to dry hole expense, see the Exploration Expenses section
 
of this Note.
The following table provides an aging
 
of suspended well balances at December 31:
Millions of Dollars
2021
2020
2019
Exploratory well costs capitalized
 
for a period of one year or less
$
4
156
206
Exploratory well costs capitalized
 
for a period greater than one year
656
526
814
Ending balance
$
660
682
1,020
*
*Includes $
313
 
million of assets held for sale in Australia-West at December 31, 2019.
Number of projects with exploratory
 
well costs capitalized for
 
a period
greater than one year
22
22
23
The following table provides a further
 
aging of those exploratory
 
well costs that have been capitalized
 
for more
than one year since the completion of drilling as of December 31, 2021:
Millions of Dollars
Suspended Since
Total
2018-2020
2015-2017
2004-2014
Willow—Alaska
(1)
313
262
51
-
Surmont—Canada
(1)
121
2
19
100
PL 1009—Norway
(1)
43
43
-
-
PL 891—Norway
(1)
34
34
-
-
Narwhal Trend—Alaska
(1)
25
25
-
-
WL4-00—Malaysia
(1)
24
24
-
-
PL782S—Norway
(1)
22
22
-
-
NC 98—Libya
(2)
13
-
-
13
Other of $10 million or less each
(1)(2)
61
21
11
29
Total
$
656
433
81
142
(1)Additional appraisal wells planned.
(2)Appraisal drilling complete; costs being incurred to assess development.
Exploration Expenses
The charges discussed below are included in the “Exploration
 
expenses” line on our consolidated income
statement.
 
2020
In our Alaska segment, we recorded
 
a before-tax impairment
 
of $
828
 
million for the entire associated
 
carrying
value of capitalized undeveloped
 
leasehold costs related to
 
our Alaska North Slope Gas asset.
 
We no longer
believe the project will advance,
 
and there is no current market
 
for the asset.
In our Other International segment, our interests
 
in the Middle Magdalena Basin of Colombia are in force
 
majeure.
 
As we had no immediate plans to perform
 
under existing contracts;
 
therefore, in 2020, we recorded
 
a before-tax
expense totaling $
84
 
million for dry hole costs of a previously
 
suspended well and an impairment of the associated
capitalized undeveloped leasehold
 
carrying value.
In our Asia Pacific segment, we recorded
 
before-tax expense
 
of $
50
 
million related to dry hole costs
 
of a previously
suspended well and an impairment of the associated capitalized
 
undeveloped leasehold carrying value associated
with the Kamunsu East Field in Malaysia
 
that is no longer in our development plans.
2019
In our Lower 48 segment, we recorded
 
a before-tax impairment
 
of $
141
 
million for the associated carrying value
 
of
capitalized undeveloped leasehold
 
costs and dry hole expenses of $
111
 
million before-tax
 
due to our decision to
discontinue exploration
 
activities related to our Central Louisiana
 
Austin Chalk acreage.