Optimistic Oil Corporation estimates the following costs to acquire, drill, and complete a well on Lease A: 11ec7775_9918_056f_9634_03aca1cb2519_SM1710_00 Would the investment be profitable if proved reserves are: a. 20,000 barrels? b. 30,000 barrels? c. 40,000 barrels?

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

Edition 5ISBN: 9781630181031

Edition 5ISBN: 9781630181031

Exercise 12

Optimistic Oil Corporation estimates the following costs to acquire, drill, and complete
a well on Lease A:

Would the investment be profitable if proved reserves are:
a. 20,000 barrels?
b. 30,000 barrels?
c. 40,000 barrels?

Explanation

Verified

The tables represent the requi...