Information from a run ticket shows that 1,000 net barrels of oil with an API gravity of
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Information from a run ticket shows that 1,000 net barrels of oil with an API gravity of 36° were sold. The selling price is based on a contract price of \($22\) per barrel, adjusted downward 4¢ for each degree of gravity less than 40. Compute the selling price for the 1,000 barrels.
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2ND MEAS IST MEAS ACCT NO DIST NO OPERATOR LEASE NAME COMPANY RUN TICKET NO DATE LEASE NO. WELL NO. FT. INCHES TEMP BBLS IST MEAS. TANK NO. 2ND MEAS. GRAVITY TANK SIZE OBSERVED TEMP. TRUE PRICE BS&W OFF-SEAL NO.'S ON AMOUNT THIEFING BEFORE AFTER FT-IN BS & WATER REMARKS DATE GAUGER CALCULATIONS TIME WELL OWNER'S WITNESS A.M P.M. DATE GAUGER TIME WELL OWNER'S WITNESS A.M P.M. This ticket covers all claims for allowance. The oil represented by this ticket was received and run as property of
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Related Book For
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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