Lomax Company reported the following expenses in its financial statements (in thousands): REQUIRED: Using the reserve disclosure

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Lomax Company reported the following expenses in its financial statements

(in thousands): image text in transcribed

REQUIRED: Using the reserve disclosure for Lomax Company given in problem 13 and the data presented in this problem:

a. Compute lifting costs per BOE.

b. Compute DD&A per BOE.

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Fundamentals Of Oil And Gas Accounting

ISBN: 9781593701376

5th Edition

Authors: Charlotte J. Wright, Rebecca A. Gallun

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Question Posted: May 31, 2024 10:16 AM

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Lomax Company reported the following expenses in its financial statements (in thousands): REQUIRED: Using the reserve disclosure

Question:

Year Lifting Costs DD&A 2015 $211 $500 2016 226 450 2017 183 525

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Fundamentals Of Oil And Gas Accounting

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