Classify the costs as IDC or LW&E assuming ONeal follows successful efforts G&G costs to locate wellsite.........................................$
Question:
Classify the costs as IDC or LW&E assuming O’Neal follows successful efforts
G&G costs to locate wellsite………………………........................................……….$ 3,000
Surface damages…………………………………….………............................................15,000
Surface casing…………………………………………………..............................................7,000
Contractor’s fee – day rate………………………….......................................………175,000
Equipment rentals…………………………………....................................................200,000
Drilling fluids………………………………………..............................................………..35,000
Fuel..................................................…………………………………………………………….9,000
Drill bits………………………………………...............................................………………20,000
Cementing services…………………………………………….........................................5,000
Casing crews…………………………………………………..............................................6,000
Roustabout labor…………………………………….........................................…………8,000
Hauling and transportation…………………………....................................…………7,500
Production casing…………………………………...........................................……….36,000
Tank battery…………………………………………………............................................11,000
Lines and connections………………………………......................................………...5,500
Pumping unit motor and accessories………………..............................……….50,000
Casinghead and connections……………………….....................................……….6,500
Tubing………………………………………………..………................................................8,500
Separating and treating equipment…………………................................….……7,100
Measuring equipment………………………………........................................………….300
Downhole pump and rods…………………………................................................5,600