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.

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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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