What it is
Reserve quantities feed depletion, impairment and the supplemental disclosures, so the reserve engineer’s report is the central estimate on an oil and gas audit. This program tests the report’s inputs as well as its conclusions.
The workbook covers revenue and production, capitalized costs, reserves, depletion and impairment, and liabilities such as the asset retirement obligation, royalties and joint interest billings. It includes risks, sign-off columns and tie-outs.
When to use it
- Auditing an exploration and production company or a non-operator with working interests.
- Evaluating a reserve engineer under AU-C 620.
- Testing the ceiling test or the impairment of proved properties.
What’s inside
- Production-to-revenue reconciliation and purchaser statement tests
- Capitalized cost, exploratory well and acquisition tests
- Reserve report evaluation, depletion recomputation and impairment steps
- Asset retirement obligation, royalty, joint interest and tax procedures
Standard cited
This template follows ASC 932 / ASC 410-20. It is written in our own words, except for phrases the standard requires the document to contain, with [bracketed placeholders] for client details, amounts in USD and dates as MM/DD/YYYY. Check it against the current standard and your firm’s methodology before use.
Questions
Does it fit both successful efforts and full cost?
Yes. The steps flag where the method matters, such as exploratory wells under successful efforts and the ceiling test under full cost.
Who evaluates the reserve engineer?
The auditor evaluates competence, objectivity and the work under AU-C 620, and tests the data management supplied to the engineer.
Are the supplemental disclosures audited?
They are usually unaudited supplementary information. The program agrees them to the report and checks consistency with the statements.
Related templates
- Oil and Gas Depletion Unit-of-Production Schedule
- Oil and Gas Asset Retirement Obligation Rollforward
- Fixed Asset Rollforward (Excel)
- Lead Schedule Template (Excel)
Last updated 11/05/2026. All free templates.