Cedar Creek Oil & Gas Company (the “Company”) was incorporated in June 1926. The Company is a working interest owner in oil and natural gas properties in Colorado, Kansas, Michigan, Montana, Texas, Louisiana and North Dakota. The Company’s properties are a combination of oil & natural gas.
The Company uses the full cost method of accounting for oil and gas properties applied on a prospect and development field basis. Under this method of accounting, the cost of unsuccessful, as well as successful property acquisition, exploration, and development activities are capitalized. These costs are subsequently amortized using the unit-of production method based on the estimated quantity of proved reserves of oil and gas expressed as net equivalent barrels. Production costs are expensed as incurred.
The Company, as a working interest owner, does not operate the properties. Therefore, it is not directly engaged in any oil and gas operations.
A Look Back in Time… Download the 1926 Prospectus