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Fundamentals of Oil & Gas Accounting 5th Edition by Rebecca Gallun, Charlotte Wright
Edition 5ISBN: 9781630181031Fundamentals of Oil & Gas Accounting 5th Edition by Rebecca Gallun, Charlotte Wright
Edition 5ISBN: 9781630181031 Exercise 3
Dwight Energy owns the working interest in a tract of land in Texas. Lacking the funds
to develop the property, Dwight assigns Bartz Oil 30,000 barrels of oil to be paid out
of 1/7 of the working interest's share of production in exchange for $600,000 in cash.
What type of interest has Bartz acquired?
to develop the property, Dwight assigns Bartz Oil 30,000 barrels of oil to be paid out
of 1/7 of the working interest's share of production in exchange for $600,000 in cash.
What type of interest has Bartz acquired?
Explanation
Verified
Verified
Working interest:
It is an interest ref
It is an interest ref
Fundamentals of Oil & Gas Accounting 5th Edition by Rebecca Gallun, Charlotte Wright
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