Fundamentals of Oil & Gas Accounting, 6th Edition

Professor Charlotte Wright updates her indispensable accounting book for the oil and gas industry in this revised and expanded sixth edition. The past several years have seen significant changes in the accounting and disclosure rules for the industry. While the book has thorough updates throughout, there are new industry issues specifically addressed from the accounting perspective.

Some of the significant updates and new material include:

• Discussion of the significance of shale and unconventional production as it relates to accounting principles
• New definitions of reserves from the Securities and Exchange Commission, and the impact on accounting processes
• All citations and references align with the updated authoritative literature from the Financial Accounting Standards Board
• A new chapter discussing specific issues previously unaddressed regarding property valuation in the industry
• New, and updated, end-of-chapter problems

Chapter 1 : Upstream Oil and Gas Operations
Chapter 2 : Introduction to Oil and Gas Accounting
Chapter 3 : Oil and Gas Reserves
Chapter 4 : Nondrilling Exploration Costs-Successful Efforts
Chapter 5 : Acquisition Cost of Unproved Property-Successful Efforts
Chapter 6 : Drilling and Development Costs-Successful Efforts
Chapter 7 : Proved Property Cost Disposition-Successful Efforts
Chapter 8 : Full Cost Accounting
Chapter 9 : Production Activities and Project Analysis
Chapter 10 : Asset Retirement and Environmental Obligations
Chapter 11 : Impairment and Disposal of Long-Lived Assets
Chapter 12 : Accounting for Revenue from Oil and Gas Sales
Chapter 13 : Basic Oil and Gas Tax Accounting
Chapter 14 : Joint Interest Accounting
Chapter 15 : Conveyances
Chapter 16 : Oil and Gas Disclosures
Chapter 17 : Analysis of Oil and Gas Companies’ Financial Statements
Chapter 18 : Accounting for International Petroleum Operations  

Appendix A : Authorization for Expenditure
Appendix B : Regulation S-X Rule 4-10
Index