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From Human Resource & Organisational Development Consultancy (HRODC) Postgraduate Training Institute
On-Line Postgraduate Programme In Advanced Oil and Gas Accounting 1
...s
- Oil Industry Accounting Committee (OIAC)
II. DRILLING DEVELOPMENT COSTS - SUCCESSFUL EFFORTS
II. A. General Contents, Concepts and Issues
- Income tax accounting for drilling costs
- IDC vs. Equipment
- Intangible Drilling Costs (IDC)
(1) Up to an including the installation of Christmas Tree
* Prior to Drilling
i. G & G
ii. Preparation of Site
more...
On-Line Postgraduate Programme In Advanced Oil and Gas Accounting 1
On-Line Postgraduate Programme In Advanced Oil and Gas Accounting 2
...NG
III. A. Lesseesa s transactions
o Nondrilling costs
o Acquisitions costs
o Drilling operations
o Equipment costs
o Production operations
o Losses from unproductive
o Percentage depletion
o Property
o Recapture of IDC and depletion
III. B. Lessora s transactions
o Acquisition costs
o Revenue
more...
On-Line Postgraduate Programme for Advanced Oil and Gas Accounting 3
...e wells and acreage
o Undeveloped acreage
o Drilling activity
o Present activities
o Delivery commitments
- Comparing financial reports
- Reserve ratios
o Reserve replacement ratio
o Reserve life ration
o Net wells to gross wells ratio
o Average reserves per well ratio
o Average daily production per well
- Reserve cost
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On-Line Postgraduate Programme In Oil And Gas Accounting
...backs of nonworking interest
- Distinguish between Non-drilling and Drilling Costs
- Appropriately apportion costs to non-drilling and drilling operations, respectively
- Explain the basic principles of Successful Efforts Accounting in Oil and Gas
- Demonstrate mastery of the concepts and issues associated with exploration and drilling operation
- Explain, with minor omissions,
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