Assignment- No:ol. Natural Resources and depletion Chevron oil company ecoc) is exploring and producing heavy oil in oman. The estimated available barvels in The yesoruLOW 9 The oil field is around 410,000,000 barrels. The estimated economic Life of the oil field is 10 years. The exiploration cost CEC) is $ 3,100,000,000 which accounts for 15 pereent of The total cost and residual value of 10 percent. The extraction of oil is propected to be 14% annuegedly from the ist 4 yeas and 15% for the years (6 6 and 7) connually provided thal. the field will develop by 1% in year 7. Required: (A) Find out the depletian Bax CD B) Depletion Rate CDR) and 7 depelion amount on annual bann. produce a Depletion schedule. (BJ what would be the case if the oil field by act of nature witnesses development in year 8. (Assune 2o percent. Equatzins DR Cost - Residual value DR Available Est. uniks : esT Assignment- No:ol. Natural Resources and depletion Chevron oil company ecoc) is exploring and producing heavy oil in oman. The estimated available barvels in The yesoruLOW 9 The oil field is around 410,000,000 barrels. The estimated economic Life of the oil field is 10 years. The exiploration cost CEC) is $ 3,100,000,000 which accounts for 15 pereent of The total cost and residual value of 10 percent. The extraction of oil is propected to be 14% annuegedly from the ist 4 yeas and 15% for the years (6 6 and 7) connually provided thal. the field will develop by 1% in year 7. Required: (A) Find out the depletian Bax CD B) Depletion Rate CDR) and 7 depelion amount on annual bann. produce a Depletion schedule. (BJ what would be the case if the oil field by act of nature witnesses development in year 8. (Assune 2o percent. Equatzins DR Cost - Residual value DR Available Est. uniks : esT