Mateen Oil and Gas Company provides the following data:201920202021Unproved property acquisitionProved property acquisition35,00055,00081,00060,00050,00070,000G&G450,000430,000475,000Exploratory drilling (including dry hole)318,000473,000535,000Development drilling155,00095,000190,000Extensions and discoveries83,00078,00085,600Equipments60,00055,00085,000Use formula 1 without revision to find the Finding costs per BOE for 20199.2530O 9.2035O 9.20055.2930

Here discuss about the finding cost per BOE which was calculated by using total volume of cost…

Mateen Oil and Gas Company provides the following data: 2019 2020 2021 Unproved property acquisition Proved property acquisition 35,000 55,000 81,000 60,000 50,000 70,000 G&G 450,000 430,000 475,000 Exploratory drilling (including dry hole) Development drilling Extensions and discoveries 318,000 473,000 535,000 155,000 95,000 190,000 83,000 78,000 55,000 85,600 Equipments 60,000 85,000

Mateen Oil and Gas Company provides the following data: 2019 2020 2021 Unproved property acquisition Proved property acquisition 35,000 55,000 81,000 60,000 50,000 70,000 G&G 450,000 430,000 475,000 Exploratory drilling (including dry hole) Development drilling Extensions and discoveries 318,000 473,000 535,000 155,000 95,000 190,000 83,000 78,000 55,000 85,600 Equipments 60,000 85,000

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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