ABC Oil Company has a fully developed producing lease that has both oil and gas reserves.
Data for the lease are as follows. (In a fully developed lease the proved reserves and proved
developed reserves are the same amount.)
Net capitalized costs, December 31						2,200,000
Estimated proved developed reserves, December 31:
	Oil		400,000	bbl
	Gas		1,800,000	Mcf
Production during the year:
	Oil		50,000	bbl
	Gas		240,000	Mcf
Assume DD&A is determined based on a common unit of measure, either equivalent barrels
or Mcfs. If BOEs are to be used, then gas would be converted to BOEs; if equivalent Mcf s are
to be used, then oil would be converted to equivalent Mcf s.
CALCULATE
	i)- Total production during the year in BOE
	ii)- Total proved developed reserves, December 31 in BOE
	iii)- Proved developed reserves in BOE
	iv)- DD&A