Fundamentals of Oil & Gas Accounting

by Wright, Charlotte J., Ph.D.; Gallun, Rebecca A.

• ISBN13: 9781593701376
• ISBN10: 1593701373
• Edition: 5th
• Format: Hardcover
• Copyright: 2008-08-15
• Publisher: Pennwell Corp

Summary

An excellent training manual and professional reference, Fundamentals of Oil & Gas Accounting, 5th Edition, is packed with examples, diagrams, and appendices. The scope of this text is simply unmatched. The book has been completely updated to reflect the current issues facing oil and gas producers operating in both U.S. and international locations. Inside you'll find: A new chapter on asset retirement obligations and asset impairment; an added section on project analysis and investment decision making; updated coverage of asset exchanges and fair value reporting requirements; thorough discussion of oil and gas pricing and marketing arrangements; and, updated examples and homework problems.

Author Biography

Rebecca A. Gallun is professor emeritus at the University of Houston-Clear Lake where she taught oil and gas accounting for more than 17 years. Charlotte J. Wright is Lanny G. Chasteen Chair and a professor in the School of Accounting at Oklahoma State University, where she has taught for 25 years.

Table of Contents

A profile of upstream oil and gas operations

Introduction to oil and gas accounting

Nondrilling exploration costs - successful efforts

Acquisition costs of unproved property - successful efforts

Drilling and development costs - successful efforts

Proved property cost disposition - successful efforts

Full cost accounting

Accounting for production activities

Accounting for asset retirement obligations and asset impairment

Accounting for revenue from oil and gas sales

Basic oil and gas tax accounting

Joint interest accounting

Conveyances

Oil and gas disclosures

Accounting for international petroleum operations

Analysis of oil and gas companies' financial statements

Appendices

Index

Table of Contents provided by Publisher. All Rights Reserved.