Dwight Energy owns the working interest in a tract of land in Texas. Lacking the funds to
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Dwight Energy owns the working interest in a tract of land in Texas. Lacking the funds to develop the property, Dwight assigns Bartz Oil 30,000 barrels of oil to be paid out of 1/7 of the working interest’s share of production in exchange for $600,000 in cash.
What type of interest has Bartz acquired?
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Related Book For
Fundamentals Of Oil And Gas Accounting
ISBN: 9781593701376
5th Edition
Authors: Charlotte J. Wright, Rebecca A. Gallun
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