During 2007, Wildcat Oil Company constructed an offshore production platform at a cost of ($25,000,000.) A total

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During 2007, Wildcat Oil Company constructed an offshore production platform at a cost of $$25,000,000.$ A total of 16 wells are planned. As of 12/31/07, only 2 out of the 16 wells had been drilled. Calculate DD&A given the following information.

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Fundamentals Of Oil And Gas Accounting

ISBN: 9780878147939

4th Edition

Authors: Rebecca A. Gallun, Ph.D. Wright, Charlotte J, Linda M. Nichols, John W. Stevenson

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Question Posted: May 29, 2024 08:03 AM

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During 2007, Wildcat Oil Company constructed an offshore production platform at a cost of ($25,000,000.) A total

Question:

Leasehold costs Drilling costs. Platform costs Proved reserves, 12/31/07 Proved developed reserves, 12/31/07 Production $ 300,000 2,200,000 25,000,000 1,800,000 bbl 900,000 bbl 100,000 bbl

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Fundamentals Of Oil And Gas Accounting

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