EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
Select your location
Local sites
Overview
Entities that enter into drilling participation arrangements need to exercise judgment to determine whether the transactions should be accounted for as conveyances or borrowings in accordance with ASC 932, Extractive Activities – Oil and Gas. Our Technical Line addresses some of the common DrillCo features that should be evaluated when making this determination.