Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Using the information provided for Gulfport Energy in 2018, calculate the Finding Cost Ratio in $/BOE. Tip: Make sure that you add together oil, natural

image text in transcribed

Using the information provided for Gulfport Energy in 2018, calculate the Finding Cost Ratio in $/BOE. Tip: Make sure that you add together oil, natural gas, and NGLS and use the conversion that 1 BOE = 6 mcfe. 2018 Oil (MBbls) Natural Gas (MMcf) Natural Gas Liquids (MBbls) 19,157 4.825,310 75,766 Proved Reserves Beginning of the period Purchases in oil and natural gas reserves in place Extensions and discoveries Sales of oil and natural gas reserves in place Revisions of prior reserve estimates Current production End of period 5,205 622,271 9,631 (134) (43,444) (112) (377) (2,801) 21,050 (826,506) (443,742) 4,133,889 1,228 (5,993) 80,520 Costs incurred in Oil and Gas Property Acquisition and Development Activities 2018 Acquisition Development Exploratory Recompletions Capitalized asset retirement obligation Total 124,558 603,676 21,840 7,915 1,452 759,441 $0.184 per BOE O $0.34 per BOE $0.034 per BOE $0.205 per BOE Using the information provided for Gulfport Energy in 2018, calculate the Finding Cost Ratio in $/BOE. Tip: Make sure that you add together oil, natural gas, and NGLS and use the conversion that 1 BOE = 6 mcfe. 2018 Oil (MBbls) Natural Gas (MMcf) Natural Gas Liquids (MBbls) 19,157 4.825,310 75,766 Proved Reserves Beginning of the period Purchases in oil and natural gas reserves in place Extensions and discoveries Sales of oil and natural gas reserves in place Revisions of prior reserve estimates Current production End of period 5,205 622,271 9,631 (134) (43,444) (112) (377) (2,801) 21,050 (826,506) (443,742) 4,133,889 1,228 (5,993) 80,520 Costs incurred in Oil and Gas Property Acquisition and Development Activities 2018 Acquisition Development Exploratory Recompletions Capitalized asset retirement obligation Total 124,558 603,676 21,840 7,915 1,452 759,441 $0.184 per BOE O $0.34 per BOE $0.034 per BOE $0.205 per BOE

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_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

Intermediate Financial Management

Authors: Eugene F Brigham, Phillip R Daves

9th Edition

032431986X, 9780324319866

More Books

Students also viewed these Finance questions

Question

What is your view of spirituality in the workplace?

Answered: 1 week ago