Publisher's Synopsis
Excerpt from Cost Accounting for Oil Producers
Prior to the actual development of an oil property it is difficult to determine the quantity of oil under the property and the rate at which this oil can be brought to the surface - factors that. Determine the ultimate value of the property. Consequently, there has been much confusion in devising accounting systems that, during the entire life of a property, will show costs and profits from which the producer can determine whether his property is being worked at a profit or otherwise. The Bureau of Mines publishes this report in recognition of a distinct need for a simple treatise on accounting methods adapted to the peculiarities of the petroleum industry.
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