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Part 2 - Budgeting Production Activities

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Budgets of various types constitute the principle management vehicle for the formal expression of the company's plans and objectives for a specified period of time. No other management tool is capable of providing the operational direction that can be achieved through a well-planned and developed budget. In this excerpt from Economics of Worldwide Petroleum, we will examine concepts of budgeting for production activities.

Part 1 - Budgeting Exploration Activities

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Budgets of various types constitute the principle management vehicle for the formal expression of the company's plans and objectives for a specified period of time. No other management tool is capable of providing the operational direction that can be achieved through a well-planned and developed budget. In this excerpt from Economics of Worldwide Petroleum, we will examine concepts of budgeting for exploration activities.

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