Lomax Company reported the following costs on its financial statements (in thousands): REQUIRED: Using the reserve disclosure

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Lomax Company reported the following costs on its financial statements

(in thousands): image text in transcribed

REQUIRED: Using the reserve disclosure for Lomax Company in problem 13 and the data presented in this problem, compute finding costs per BOE using the various formulae.

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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 10:16 AM

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Lomax Company reported the following costs on its financial statements (in thousands): REQUIRED: Using the reserve disclosure

Question:

2015 2016 2017 Unproved property acquisition $405 $200 $800 Proved property acquisition 0 500 350 G&G 500 650 425 Exploratory drilling (including dry hole) 221 700 650 Development drilling 50 90 300

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Fundamentals Of Oil And Gas Accounting

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