Ajax Oil Corporation drilled its first successful well on Lease A in 2018. Data for Lease A
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Ajax Oil Corporation drilled its first successful well on Lease A in 2018. Data for Lease A as of 12/31/18 are as follows:
REQUIRED: Compute amortization for 2018.
Transcribed Image Text:
Leasehold costs Well IDC .... L&WE... Production during 2018. Total estimated proved reserves, 12/31/18 Total estimated reserves recoverable from well, 12/31/18 ... $ 50,000 200,000 75,000 8,000 bbl 792,000 bbl 102,000 bbl
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