Question

what is well logs in oil and gas accounting?

Answer 1

Well Logs in oil and gas accounting is a systematic recording of data, such as a driller’s log, mud log, electrical well log, or radioactivity log. Many different logs are run in wells to obtain various characteristics of down hole formations.
Well logging is a means by which oil and gas companies gather detailed information about the layers of rock they drill through. They can then analyze this data to make the judgment with greater certainty of whether or not hydrocarbons are present. If the data looks promising, the company can continue on and complete the well. However, if the well is not promising, the process can be halted and the well abandoned before incurring the additional cost of completing the well.