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Calculate DD&A given the following information During 2019, O'Neal Oil Corporation constructed an offshore production plat- form at a cost of $25,000,000. In total, 16
Calculate DD&A given the following information
During 2019, O'Neal Oil Corporation constructed an offshore production plat- form at a cost of $25,000,000. In total, 16 wells are planned. As of 12/31/19, only 2 out of the 16 wells had been drilled. REQUIRED: Calculate DD&A given the following information: Leasehold costs Drilling costs Platform costs. . Proved reserves, 12/31/19 Proved developed reserves, 12/3 1/19 $ 300,000 2,200,000 25,000,000 1,800,000 bbl 900,000 bbl 100,000 bb Production During 2019, O'Neal Oil Corporation constructed an offshore production plat- form at a cost of $25,000,000. In total, 16 wells are planned. As of 12/31/19, only 2 out of the 16 wells had been drilled. REQUIRED: Calculate DD&A given the following information: Leasehold costs Drilling costs Platform costs. . Proved reserves, 12/31/19 Proved developed reserves, 12/3 1/19 $ 300,000 2,200,000 25,000,000 1,800,000 bbl 900,000 bbl 100,000 bb ProductionStep by Step Solution
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