During September 2010, Gamma Oil Company sold 2,000 Mcf of gas at 14.65 psia with a heat

Question:

During September 2010, Gamma Oil Company sold 2,000 Mcf of gas at 14.65 psia with a heat content of 1.030 MMBtu/Mcf at 14.73 psia. The selling price of the gas was

$8.80/MMBtu.

REQUIRED:

a. Convert Mcf to a standard pressure of 14.73 psia and determine the MMBtus for the gas sold.

b. Convert MMBtu/Mcf to a standard pressure of 14.65 psia and determine the MMBtus for the gas sold.

c. Determine the sales price of the gas sold.

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Fundamentals Of Oil And Gas Accounting

ISBN: 9781593701376

5th Edition

Authors: Charlotte J. Wright, Rebecca A. Gallun

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Question Posted: May 31, 2024 10:15 AM

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During September 2010, Gamma Oil Company sold 2,000 Mcf of gas at 14.65 psia with a heat

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Fundamentals Of Oil And Gas Accounting

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