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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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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