Joint development of oil and gas properties can be conducted under a number of different types of agreements. This Accounting Guideline explains three of these types of agreements and identifies unusual or unique contractural provisions found in each of these arrangements. This document also provides guidelines for the accounting and cost reporting normally required for these operations. Many of these agreements involve various payout calculations, and this document provide guidance and numerous examples on the complexities involved in calculating the most accurate payout, based on complex circumstances. 44 pages. 2005.