Answered step by step
Verified Expert Solution
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
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
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