Fundamentals of Oil and Gas Accounting

This book on fundamentals of oil and gas accounting spanning sixteen chapters aims to provide a good understanding of oil and gas accounting and to serve as an invaluable resource for professionals, students, and enthusiasts seeking a profound
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understanding of the financial principles within the industry.
Within the pages of this book are detailed explanations of the exploration of the organizational structure of an exploration and production company; providing readers with a solid foundation for understanding the industry's framework, petroleum industry structure, and challenges; offering insights into the unique financial dynamics shaping the sector. Accounting principles for oil and gas producing activities, accounting principles for oil and gas exploration activities, accounting for costs incurred in drilling and equipping, accounting for joint operations, production and volume measurement, accounting for oil, gas, and NGL sales, gas imbalances, production costs, the full cost accounting method, asset retirement obligations, accounting for conveyances, accounting for partnership interests, accounting for international operations, and derivatives accounting.
It is believed that tax and accounting professionals seeking educational material in oil and gas accounting; students studying accounting, finance, and other related fields, or pursuing careers in the energy sector, academics, and researchers will find this book very useful.