Pressure Oil Corporation owns a working interest in an oil and gas lease. Lacking the funds to
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Pressure Oil Corporation owns a working interest in an oil and gas lease. Lacking the funds to develop the lease, Pressure assigns the working interest to Tritium Oil Company, reserving 1/32 of 6/7 of production. What kind of interest has Tritium acquired? What kind of interest has Pressure retained?
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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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