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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 8
Lomax Company's Statement No. 69 disclosures included the following information: 
REqUIRED: Using the information for Lomax Company in problems 13, 14, and 15
and in this problem:
a. Compute the value of proved reserve additions per BOE using the various
formulae.
b. Compute the value added ratio for each year, utilizing formula 3 for finding costs
per BOE, and formula 2 with revisions for value of reserves added per BOE.
REqUIRED: Using the information for Lomax Company in problems 13, 14, and 15and in this problem:
a. Compute the value of proved reserve additions per BOE using the various
formulae.
b. Compute the value added ratio for each year, utilizing formula 3 for finding costs
per BOE, and formula 2 with revisions for value of reserves added per BOE.
Explanation
Verified
Verified
Value of proved reserve additions per BO...
Fundamentals of Oil & Gas Accounting 5th Edition by Rebecca Gallun, Charlotte Wright
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