Universal Oil Company drilled an exploratory well that found reserves, however, the reserves could not be classified

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Universal Oil Company drilled an exploratory well that found reserves, however, the reserves could not be classified as proved at that time. No major capital expenditure was required. How should the costs of the well be handled?

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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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