Mateen Oil and Gas Company provides the following data: 2019 2020 2021 Unproved property acquisition 35,000 55,000 81,000 Proved property acquisition 60,000 50,000 70,000 G&G 450,000 430,000 475,000 Exploratory drilling (including dry hole) Development drilling 318,000 473,000 535,000 155,000 95,000 190,000 Extensions and discoveries 83,000 78,000 85,600 Equipments 60,000 55,000 85,000 Use formula 1 without revision to find the Finding costs per BOE for 2020.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Question 15
Mateen Oil and Gas Company provides the following data:
2019
2020
2021
Unproved property acquisition
35,000
55,000
81,000
Proved property acquisition
60,000
50,000
70,000
G&G
450,000
430,000
475,000
Exploratory drilling (including dry hole)
Development drilling
318,000
473,000
535,000
155,000
95,000
190,000
Extensions and discoveries
78,000
55,000
83,000
85,600
Equipments
60,000
85,000
Use formula 1 without revision to find the Finding costs per BOE for 2020.
O 11.6759
O 11.6579
O 11.9765
O 11.7569
O 11.5769
Transcribed Image Text:Question 15 Mateen Oil and Gas Company provides the following data: 2019 2020 2021 Unproved property acquisition 35,000 55,000 81,000 Proved property acquisition 60,000 50,000 70,000 G&G 450,000 430,000 475,000 Exploratory drilling (including dry hole) Development drilling 318,000 473,000 535,000 155,000 95,000 190,000 Extensions and discoveries 78,000 55,000 83,000 85,600 Equipments 60,000 85,000 Use formula 1 without revision to find the Finding costs per BOE for 2020. O 11.6759 O 11.6579 O 11.9765 O 11.7569 O 11.5769
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