Suspended Well Costs (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Capitalized Exploratory Well Costs

The following table reflects the Company’s capitalized exploratory well costs on drilled wells as of and during the six months ended June 30, 2025.


	June 30, 2025
	(In thousands)
Beginning balance	$	196,202
Additions to capitalized exploratory well costs pending the determination of proved reserves	11,315
Reclassification due to determination of proved reserves	—
Capitalized exploratory well costs charged to expense	—
Ending balance	$	207,517

Schedule of Aging of Capitalized Exploratory Well Costs and Number of Projects for Which Exploratory Well Costs were Capitalized for More Than One Year

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


	June 30, 2025		December 31, 2024
	(In thousands, except project counts)
Exploratory well costs capitalized for a period of one year or less	$	—	$	—
Exploratory well costs capitalized for a period of one to five years	69,746		63,552
Exploratory well costs capitalized for a period of six to ten years	137,771		132,650
Ending balance	$	207,517	$	196,202
Number of projects that have exploratory well costs that have been capitalized for a period greater than one year	2		2