skip to Main Content

AG-12 Determining Finding, Development, and Acquisition Costs

Exploration and Production Companies are required to report finding / acquisition costs in accordance with Statement of Financial Accounting Standards (SFAS 69) and in form 10K. However, few companies use these standards for computing these costs for internal purposes. This publication explains the various other methods and their applicability to certain situations. 23 pages. 2011.

$130.00

Members receive 20% off webinars and 50% off publications

AG-12 Determining Finding, Development, and Acquisition Costs

SKU AG-12 Categories ,

Description

Table of Contents

  1. INTRODUCTION
  2. TYPES OF COSTS INCLUDED
    1. Total Costs Incurred
    2. Acquisition
    3. Exploration
    4. Development
  3. TYPES OF RESERVES INCLUDED
    1. Proved Reserves Discovered
    2. Proved Reserves Purchased
    3. Proved Reserves Revisions
    4. Reserves from Improved Recovery
    5. Probable Reserves Discovered
  4. METHODOLOGIES
    1. Basic FD Costs
    2. Exclude Certain Current Year Acquisition Costs
      1. Exclude Proved Property Acquisitions
      2. Exclude Unproved Property Acquisitions
      3. Exclude All Acquisitions
    3. Exclude Current Year Costs Incurred for Unsuccessful Exploration
    4. Include Change in Future Development Costs
    5. Base Reserve Adjustments
      1. Current Year Reserve Additions Less Price Revisions
      2. Current Year Reserve Additions Less Revisions in Estimates
      3. Current Year Reserve Additions Less Price Revisions and Revisions in Estimates
      4. Current Year Reserve Additions Less Proved Undeveloped Reserve Additions
    6. Include Probable Reserves
  5. SUMMARY
  6. EXHIBIT A – Finding, Development and Acquisition Costs – Examples of Methodologies

COPAS POLICIES: Complaints | Cancellation & Refund Policy

Additional information

Weight 4.0000000035274 oz
Dimensions 11 × 8.5 × 0.025 in
Format

Digital, Printed

Testimonials

Networking is so important. It will help with your job and career, and you will gain knowledge you can’t get sitting at a desk. The people in COPAS have mentored me, answered questions for me, and genuinely cared about me and my family.

Melissa Gruenewald
Rating: 5

COPAS has great learning opportunities, leadership opportunities, and ways to develop relationships with other accountants and oil and gas professionals. You will work hard when you get involved, but the experiences, people and benefits will be worth it.

Melissa Gruenewald
Rating: 5

For anyone searching for energy knowledge, professional industry contacts, peers with whom to discuss similar dilemmas, and access to energy experts—COPAS is the place to be!

Carolyn Sczepanski
Rating: 5
Get Updates

OUR MISSION

COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.

COPAS

P.O. Box 21272
Wichita, KS 67208
Tel: 303-300-1131

Contact Us →

CONNECT WITH US

OUR MISSION

COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.

COPAS

P.O. Box 21272
Wichita, KS 67208
Tel: 303-300-1131

Contact Us →

CONNECT WITH US

Back To Top
Search