PROS, CONS OF TECHNIQUES USED TO CALCULATE OIL, GAS FINDING COSTS

Dwight Gaddis, Horace Brock, Charles Boynton Institute of Petroleum Accounting Denton, Tex. A major problem facing the U.S. petroleum industry is the higher average finding costs that now exist within the U.S. compared with the average finding costs outside the U.S. It has been argued that federal lands and offshore areas need to be open for drilling in order to reduce average finding costs in the U.S. Certainly, the development of a national energy policy must acknowledge the importance of

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