During 2019, ONeal Oil Corporation constructed an offshore production platform at a cost of $25,000,000. In total,

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During 2019, O’Neal Oil Corporation constructed an offshore production platform at a cost of $25,000,000. In total, 16 wells are planned. As of 12/31/19, only 2 out of the 16 wells had been drilled.

REQUIRED: Calculate DD&A given the following information:

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Fundamentals Of Oil And Gas Accounting

ISBN: 9781593703639

6th Edition

Authors: Charlotte Wright

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Question Posted: Mar 08, 2024 10:02 AM

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During 2019, ONeal Oil Corporation constructed an offshore production platform at a cost of $25,000,000. In total,

Question:

Leasehold costs Drilling costs Platform costs... Proved reserves, 12/31/19 Proved developed reserves, 12/31/19 Production .... $ 300,000 2,200,000 25,000,000 1,800,000 bbl 900,000 bbl 100,000 bbl

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Fundamentals Of Oil And Gas Accounting

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