Fundamentals of Oil & Gas Accounting 5th Edition by Rebecca Gallun, Charlotte Wright

تمرين 2

During 2015, O'Neal Corporation incurred the following costs in connection with the
Batch lease:
a. Acquired the 800 acre Batch lease at a lease bonus of $70 per acre and other
acquisition costs of $10,000.
b. Incurred the following costs in connection with Batch #1: Record the above transactions. Hint: The type of equipment installed when the well
reached target depth indicates whether the well was successful or dry.