Is it ever appropriate for the sale of a partial interest in a proved property to be

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Is it ever appropriate for the sale of a partial interest in a proved property to be accounted for as a normal retirement?

a. Yes, that is the required treatment.

b. Yes, but only if doing so does not materially alter the DD&A rate.

c. Yes, but only if there is no remaining net book value after having treated the proceeds as recovery of capitalized costs.

d. No.

e. None of these applies.

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Fundamentals Of Oil And Gas Accounting

ISBN: 9781593703639

6th Edition

Authors: Charlotte Wright

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Question Posted: Mar 08, 2024 10:00 AM

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Is it ever appropriate for the sale of a partial interest in a proved property to be

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d No It is not appropriate for the sale of a partial interest in ...View the full answer

Fundamentals Of Oil And Gas Accounting

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