Question: this is the entire question there is nothing else missing 710 FUNDAMENTALS OF OIL & GAS ACCOUNTING 13. The following reserve table appeared in the
710 FUNDAMENTALS OF OIL & GAS ACCOUNTING 13. The following reserve table appeared in the financial statements of Tyler Company: (Worldwide Totals only), in Thousands of Barrels and Millions of Cubic Feet Estimated Quantities of Net Proved Crude Oil and Natural Gas 2021 2020 Gas Oil Gas 2022 Oil Gas Oil 234 779 Year ended Dec. 31 783 335 12 15 31 724 (11) 25 Beginning of year 23 15 12 12 0 Revisions of previous estimates Improved recovery (20) (99) (70) 90 42 6 Purchases of reserves-in-place Sales of reserves-in-place Extensions & discoveries (21) (68) (24) 335 (76) 724 251 Production 870 End of year totals Gross Wells 2,010 1,910 900 2,050 2022 REQUIRED: Compute the following ratios for all three years: a. The reserve replacement ratio computed for all three methods and for oil and gas separately b. The reserve life ratio computed for oil and gas separately c. The net wells to gross wells ratio d. The average reserves per well ratio computed using BOE, i.e., combining reserves based on relative energy content e. The average daily production per well computed using BOE Year 2020 2021 171 10 21 0 (12) 69 (25) 234 Net Wells 750 840 30 0 (12) 78 (104) 783 22 50 24 (24) 150 710 FUNDAMENTALS OF OIL & GAS ACCOUNTING 13. The following reserve table appeared in the financial statements of Tyler Company: (Worldwide Totals only), in Thousands of Barrels and Millions of Cubic Feet Estimated Quantities of Net Proved Crude Oil and Natural Gas 2021 2020 Gas Oil Gas 2022 Oil Gas Oil 234 779 Year ended Dec. 31 783 335 12 15 31 724 (11) 25 Beginning of year 23 15 12 12 0 Revisions of previous estimates Improved recovery (20) (99) (70) 90 42 6 Purchases of reserves-in-place Sales of reserves-in-place Extensions & discoveries (21) (68) (24) 335 (76) 724 251 Production 870 End of year totals Gross Wells 2,010 1,910 900 2,050 2022 REQUIRED: Compute the following ratios for all three years: a. The reserve replacement ratio computed for all three methods and for oil and gas separately b. The reserve life ratio computed for oil and gas separately c. The net wells to gross wells ratio d. The average reserves per well ratio computed using BOE, i.e., combining reserves based on relative energy content e. The average daily production per well computed using BOE Year 2020 2021 171 10 21 0 (12) 69 (25) 234 Net Wells 750 840 30 0 (12) 78 (104) 783 22 50 24 (24) 150
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