Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 01, 2024

Question 11 Ephrayim Energy Limited Estimated Quantities of Net Proved Crude Oil and Natural Gas Liquids in Thousands of Barrels. Year Ended 31 Dec

Question 11 Ephrayim Energy Limited Estimated Quantities of Net Proved Crude Oil and Natural Gas Liquids in Thousands of Barrels. Year Ended 31 Dec 2019 2020 2021 Beginning of year proved reserved 3200 3400 3700 Revisions of previous estimate 60 130 221 Improved recovery 210 132 115 Purchase of reserve in place 50 15 10 Sales of reserve in place Extensions and discoveries 233 23 32 37 53 73 65 Production 350 480 655 End of year proved reserves 2654 2729 2828 What is the reserves life ratio for the year 2019?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Using Financial Accounting Information The Alternative to Debits and Credits

Authors: Gary A. Porter, Curtis L. Norton

8th edition

1111534918, 978-1111534912

More Books

Students also viewed these Accounting questions

Question

★★★★★

You have this information r*=2.5%, inflation premium =3%, default risk premium=3.5%, liquidity premium =2% and maturity risk premium =1.5%.What is the treasury bill rate?

Answered: 1 week ago

Question

★★★★★

Use the same Appendix B data sets as Exercises 29-32 in Section 10-1. In each case, find the regression equation, letting the first variable be the predictor (x) variable. Find the indicated...

Answered: 1 week ago

Question

★★★★★

Paul Henderson is a manager for Spark Company. He tells you that his company always maximizes profi tability by accepting the investment opportunity with the highest internal rate of return. Explain...

Answered: 1 week ago

Question

★★★★★

Let X be a discrete random variable and g be a function such that the expectation E[g(X)] exists. Show that for the expectation of the random variable |g(X)|, we have |E[g(X)]| E[|g(X)|].

Answered: 1 week ago

Question

★★★★★

Journal entries for the allowance method. Data related to sales on accounts of Health Company for its first three year of operations, 2006-2008 appear next: Heath Company estimates that 3% of sales...

Answered: 1 week ago

Question

★★★★★

Ivanhoe Corporation has 1 0 6 , 0 0 0 common shares that have been issued. It declares a 6 % stock dividend on December 1 to shareholders of record on December 2 0 . The shares are issued on January...

Answered: 1 week ago

Question

★★★★★

The following salaried employees of Mountain Stone Brewery in Fort Collins, Colorado, are paid semimonthly. Some employees have union dues or garnishments deducted from their pay. Required: Calculate...

Answered: 1 week ago

Question

★★★★★

How would you write an in-text citation for the12th edition textbook written by Richard Pears and Graham Shields in 2022 titled 'Cite them right: the essential referencing guide'? (Pears and Shields

Answered: 1 week ago

Question

★★★★★

There is an amusement park where children of a certain age get a discount. At the ticket kiosk, the computer asks the age of the participant. If their age is younger than 15, the entrance price is...

Answered: 1 week ago

Question

★★★★★

E23.3 (LO2, 3) (Preparation of Operating Activities SectionIndirect Method, Periodic Inventory) The income statement of Rodriquez SA is shown below. Rodriquez SA INCOME STATEMENT FOR THE YEAR ENDED...

Answered: 1 week ago

Question

★★★★★

Currently, over half the human population uses the internet, thus creating the growing problem of what is called "digital pollution" which originates from both the Earth materials used to make the...

Answered: 1 week ago

Question

★★★★★

A company named Contoso, Ltd. is migrating its legacy PBX system to Microsoft Teams Phone. As a Microsoft Teams administrator you want a single provider for Teams Phone and the PSTN carrier. What...

Answered: 1 week ago

Question

★★★★★

1.) On May 22, 2010, Nicanor bought house and lot valued at Php 10,000,000 paying 20% down-payment with the balance payable in 10 years. On September 30, 2019, Nicanor died. The fair market value at...

Answered: 1 week ago

Question

★★★★★

python Make a dictionary of volcanoes with the keys as the volcano names and the values as the most recent eruption: "Mt St Helen's":1981, 'Pinatubo':1992, 'Krakatoa':2014, 'Anak Krakatoa': 2018,...

Answered: 1 week ago

Question

★★★★★

DC has unused FTC carryover from 2017 in the separate category for GC income as the result of income generated by a foreign branch. The income was foreign source general category income. In 2018 the...

Answered: 1 week ago

Question

★★★★★

What forces have caused management account ing systems designed decades ago to become less relevant and less valuable for organizational em ployees in today's globally competitive environ ment? (LO...

Answered: 1 week ago

Question

★★★★★

How can management accounting information produce behavioral and organizational reactions? (LO 7)

Answered: 1 week ago

Question

★★★★★

Different information needs Consider the operation of a hospital. Identify the management accounting information needs for the following: (a) The managers of (1) a patient unit, where patients stay...

Answered: 1 week ago

Previous Question Next Question