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BBVA USA set 24,200 feet of 9-5/8" Intermediate Casing in the Catalina #1...

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Accounting

BBVA USA set 24,200 feet of 9-5/8" Intermediate Casing in the Catalina #1 Well at $52.58/per joint. How many joints will be needed for the intermediate casing? Calculate the amount to record for casing. How would you account for the intermediate casing? A) Tangible Drilling Cost or B) Intangible Drilling Cost.

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