corporate JVs aren't uncommon in O&G, CVN will either equity account or proportional represent the JV (TL co) depending on how they think it will make the accounts look. Repatriating cash from TL isn't difficult plus CVN as operator will probably be able to charge some type of management fee.
as soon as they get the taps working the focus will be on production, so how they decide to account for TL is academic
corporate JVs aren't uncommon in O&G, CVN will either...
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