Oltman Petroleum data in connection with Lease A are as follows REQUIRED Should the well be completed, assuming the following total production Discuss your answer Property cost (acquisition cost) Drilling cost (one well) Estimated completion Estimated selling price ($ bbl) Estimated lifting cost ($...

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Oltman Petroleum data in connection with Lease A are as follows: REQUIRED: Should the well be completed,

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Oltman Petroleum data in connection with Lease A are as follows:

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REQUIRED: Should the well be completed, assuming the following total production? Discuss your answer.

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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 10:01 AM

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Oltman Petroleum data in connection with Lease A are as follows: REQUIRED: Should the well be completed,

Question:

Property cost (acquisition cost)... Drilling cost (one well). Estimated completion Estimated selling price ($/bbl). Estimated lifting cost ($/bbl). State severance tax... Royalty interest Case A: 5,000 bbl Case B: 10,000 bbl Case C: 15,000 bbl $ 50,000 300,000 700,000 120 20 6% 12.5%

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Fundamentals Of Oil And Gas Accounting

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