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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 28
During September 2010, Gamma Oil Company sold 2,000 Mcf of gas at 14.65 psia
with a heat content of 1.030 MMBtu/Mcf at 14.73 psia. The selling price of the gas was
$8.80/MMBtu.
REqUIRED:
a. Convert Mcf to a standard pressure of 14.73 psia and determine the MMBtus for
the gas sold.
b. Convert MMBtu/Mcf to a standard pressure of 14.65 psia and determine the
MMBtus for the gas sold.
c. Determine the sales price of the gas sold.
with a heat content of 1.030 MMBtu/Mcf at 14.73 psia. The selling price of the gas was
$8.80/MMBtu.
REqUIRED:
a. Convert Mcf to a standard pressure of 14.73 psia and determine the MMBtus for
the gas sold.
b. Convert MMBtu/Mcf to a standard pressure of 14.65 psia and determine the
MMBtus for the gas sold.
c. Determine the sales price of the gas sold.
Explanation
Verified
Verified
a.To convert Mcf @ 14.65 pisa ...
Fundamentals of Oil & Gas Accounting 5th Edition by Rebecca Gallun, Charlotte Wright
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