Overview of Gas and Oil Accounting教材.pptVIP

Overview ofOil and Gas Accounting PSC Accounting Agenda Overview of Overview of accounting principle in upstream oil and gas Overview of PSC Accounting Other PSC consideration PSC Accounting vs GAAP Recording PSC Accounting GAAP – Operator NonOperator Accounting Principles in Upstream Oil Gas Full Cost Method Successful Effort Method Full Cost Method All property acquisition, exploration and development costs, even dry hole costs, are capitalized as oil and gas properties. These costs are amortized using a unit-of-production method based on volumes produced and remaining proved reserve