Oil and Gas:

Assume Diamondback Energy reported the following reserve quantity information for 2018:

Estimated Quantities of Net Proved Oil and Natural Gas
		2018
		Oil	Gas	BOE
		MMBO	BCF	MMBOE
Beginning of year		288	285	336
Revisions of previous estimates		15	3.6	16
Purchases of reserves in place		380	641	487
Sales of reserves in place		0	-1	0
Extensions and discoveries		176	154	202
Production		-42	-35	-48
End of year		817	1,049	992

Diamondback also reported the following changes to its Standardized Measure calculation:

		Changes in Standardized Measure, in $MM
		$M
		2018	2017	2016
Beginning of year		$3,757	$1,711	$1,418
Changes due to:
Prices and costs		1,805	578	(151)
Purchases in place		5,520	439	43
Extensions, discoveries recovery		3,287	1,792	779
Revisions in estimates		271	(99)	(124)
Sales in place		(2)	(11)	(5)
Production		(1,786)	(986)	(412)
Net change in timing of production		172	168	50
Net change in income taxes		(1,728)	(9)	(31)
Accretion of discount		380	174	143
End of year		$11,676	$3,757	$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?