Dry-hole costs of an exploratory well Successful exploratory well costs.. 4. Unger Petroleum Company incurred the following costs during 2018: February 3 Cost of G&G activities to locate an oil prospect.. Acquisition costs for a 500-acre lease: lease bonus $60/acre: other costs incurred in acquiring the property... March 9 June 1 June 28 ..... $120,000 Ch Ex 3.000 S 324,000 De 418.000 August 27 Cost of production facilities such as flow lines and separators 225,000 September 5 Production costs. De 81,000 C Pr REQUIRED: Prepare journal entries for the above transactions using the successful efforts method of accounting. DE Ad 2018 Re