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U. Uslg d CUIUIUM 9. During 2018 Libby Oil and Gas Company completed the last well from its drilling and production platform off the coast
U. Uslg d CUIUIUM 9. During 2018 Libby Oil and Gas Company completed the last well from its drilling and production platform off the coast of Texas. Unrecovered costs not including commissioning costs on December 31, 2018, were $25 million, including $5 on in acquisition costs and S20 million in drilling and development costs. proved developed reserves were estimated to be 600,000 barrels as of y 1. 2018 Production during 2018 was 30,000 barrels. At the end of the e reservoir decommissioning costs are estimated to be $14 million, and Salvage value is estimated to be $1 million. REQUIRED: Compute DD&A for 2018. January 1, 2018. Production durit life of the reservoir, decommissio
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