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Balance sheet data for Geyser Energy as of 12/31/27 is as follows for Lease X: Leasehold costs $700,000 Less: Accumulated DD&A ($250,000) Net leasehold costs

Balance sheet data for Geyser Energy as of 12/31/27 is as follows for Lease X:



Leasehold costs

$700,000

Less: Accumulated DD&A

($250,000)

Net leasehold costs

$450,000

Wells and related E&F—IDC

$3,400,000

Less: Accumulated DD&A—IDC

($1,450,000)

Net wells and related E&F—IDC

$1,950,000

Wells and related E&F—L&WE

$1,900,000

Less: Accumulated DD&A—L&WE

($280,000)

Net wells and related E&F—L&WE

$1,620,000

Geyser’s activities during 2028 related to Lease X were as follows:



Exploratory dry hole drilled

$850,000

Development dry hole drilled

$920,000

Tanks, separators, etc., installed

$350,000

Production

340,000 bbl

Proved reserves, 12/31/28

3,400,000 bbl

Proved developed reserves, 12/31/28

3,100,000 bbl

Requirement:
 Calculate the Total Debt for 2028.

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