Assume Diamondback Energy reported the following reserve quantity information for 2018 Estimated Quantities of Net Proved Oil and Natural Gas 2018 Oil Gas MMBO BCF Beginning of year 288 285 Revisions of previous estimates 15 3.6 Purchases of reserves in place 380 641 Sales of reserves in place 0 -1 Extensions and discoveries 176 154 Production -42 -35 End of year 817 1,049 BOE MMBOE 336 16 487 0 202 -48 992 Diamondback also reported the following changes to its Standardized Measure calculation: Changes in Standardized Measure, in SMM $M 2018 2017 2016 $3,757 $1,711 $1,418 Beginning of year Changes due to Prices and costs Purchases in place Extensions, discoveries recovery Revisions in estimates Sales in place Production Net change in timing of production Net change in income taxes Accretion of discount End of year 1,805 5,520 3,287 271 (2) (1,786) 172 (1,728) 380 $11,676 578 439 1,792 (99) (11) (986) 168 (9) 174 $3,757 (151) 43 779 (124) (5) (412) 50 (31) 143 $1,711 a) Calculate the value of proved reserve additions per BOE using all additions to reserves, including revisions and purchases: b) The finding cost per BOE (including proved and unproved acquisition costs) was calculated as $18.31 / BOE. Calculate the value added ratio - Did Diamondback's efforts in 2018 add value in 2018? Assume Diamondback Energy reported the following reserve quantity information for 2018 Estimated Quantities of Net Proved Oil and Natural Gas 2018 Oil Gas MMBO BCF Beginning of year 288 285 Revisions of previous estimates 15 3.6 Purchases of reserves in place 380 641 Sales of reserves in place 0 -1 Extensions and discoveries 176 154 Production -42 -35 End of year 817 1,049 BOE MMBOE 336 16 487 0 202 -48 992 Diamondback also reported the following changes to its Standardized Measure calculation: Changes in Standardized Measure, in SMM $M 2018 2017 2016 $3,757 $1,711 $1,418 Beginning of year Changes due to Prices and costs Purchases in place Extensions, discoveries recovery Revisions in estimates Sales in place Production Net change in timing of production Net change in income taxes Accretion of discount End of year 1,805 5,520 3,287 271 (2) (1,786) 172 (1,728) 380 $11,676 578 439 1,792 (99) (11) (986) 168 (9) 174 $3,757 (151) 43 779 (124) (5) (412) 50 (31) 143 $1,711 a) Calculate the value of proved reserve additions per BOE using all additions to reserves, including revisions and purchases: b) The finding cost per BOE (including proved and unproved acquisition costs) was calculated as $18.31 / BOE. Calculate the value added ratio - Did Diamondback's efforts in 2018 add value in 2018