Introduction Accounting
by D Ude
1. Why Accounting?
2. What Acc.St. exist.
2.1. SFAS No. 69
2.1.1. Proved O&G reserve quantities
2.1.2. Capitalized costs relationg to O&G prod.
2.1.3. Costs incurred or A,E,D
2.1.4. Results of operations
2.1.4.1. Reserve disclosures
2.1.4.2. Value based
2.1.4.2.1. DCF
2.1.4.2.2. changes in DCF
2.1.4.3. non-value based
2.1.4.3.1. proved&probable
2.1.5. future net cash flow
2.2. 2001 Sorp(exc. reserve value)
3. Specific in O&G
3.1. Contracts
3.1.1. Lease
3.1.2. Concessions
3.1.3. PSA
3.1.4. risk service agreements
3.2. Minerals rights
3.2.1. US often individuals
3.2.2. Normaly government ownes rights