Oil and Gas Accounting Essay Example for Free

Oil and Gas Accounting Essay If operation is conducted under Lease or concession agreement, it is unlikely that the contract would contain provisions that would permit cost recovery of these costs If the operation is conducted under a psc or risk service agreement, the contractor may be permitted to recover GG related expenditures incurred after license acquisition and possibly GG costs incurred before license acquisition Support equipment and facilities Cost of acquiring support equipment and facilities should be capitalized Any related depreciation or operating costs become an exploration, development or production cost, as appropriate. Entries: Db GG expense –depreciation Cr Accumulated Depreciation Db GG expense-operating costs Cr Cash Reprocessing Seismic How to account for cost of re-evaluation or reprocessing of the data? If the reprocessing relates to the search for oil then it should be accounted for according to SE provisions regarding prospecting and nondrilling exploration costs. If the purpose is to determine how best to develop the reserves in the field, then they should be capitalized as development costs. License acquisition costs Costs of evaluating business environment, signature bonus, negotiating, etc should be capitalized Entry: Db Intangible assets-unproved property Cr Cash Development and production bonuses If the payment is actually a deferred signing bonus, the appropriate accounting treatment is to capitalize the development bonus as a license acquisition cost. Accrue once the operations are apparently proceeding to the development phase. Entries: To record signature bonus: Db Intangible Assets – unproved property Cr Cash To transfer unproved property costs to proved due to commercial discovery: Db Proved property Cr unproved property To record accrual of production bonus: Proved property Cr production bonus payable To record payment of production bonus: Db Production bonus payable Cr Cash Internal costs relating to acquisition Can allocate capitalized costs to individual licenses acquired, on an acreage basis or an a potential licenses basis Costs of carrying and retaining unproved properties Costs relating to maintaining unproved properties be charged to expense as incurred Ex: delay rentals paid on lease mineral properties until specified work is commenced, property taxes, accounting costs, legal costs Impairment of unproved property Impairment has occurred if there is some indication that the capitalized cost of an unproved property is greater than the future economic benefits expected to be derived from the property. Under SE, loss should be realized. Negative GG data and dry holes would typically suggest that part of the property’s historical cost has expired and impairment should be recognized Db Impairment expense Cr Allowance for impairment FASB permits impairment of individually insignificant properties on a group basis. Apply the impairment percentage to the total cost of the group of individually insignificant unproved properties. This determines the desired balance in the allowance for impairment account. Next the difference between the current balance and the desired balance is recognized as impairment expense. Entry: Impairment Expense Cr Allowance for impairment, group basis Abandonment of unproved property Full abandonment: When an individually significant license area is abandoned, its net capitalized acquisition costs should be charged to surrender and abandonment expense Ex: Db Surrender and abandonment expense (equal to acquisition cost) Db Allowance for impairment (balance) Cr unproved property Partial Abandonment or Relinquishments If the partial abandonment reflects a diminishment in the company’s assessment of the future economic benefit of the property, then the entire  property should be assessed for additional impairment. Unproved property classification An unproved property should be reclassified to a proved property status if and when commercial reserves are discovered on the property. Ex: Db Tangible Assets- proved property (acquisition costs) Db Impairment Allowance (balance) Cr In tangible assets- unproved property Sales of unproved property If the property was individually significant, a gain or loss should be recognized on the sale. Ex: Db Cash (sale price) Db allowance for impairment (balance) Db/Cr(gain or loss) Cr unproved property If the property was individually insignificant, a gain should be recognized only if the selling price exceeds the original cost of the property. Loss recognition is not allowed. CHAPTER 5 Accounting for Exploratory Drilling and Appraisal Costs Under SE, general nondrilling exploratory costs are to be charged to expense as incurred; exploratory drilling type costs are initially capitalized. Exploratory Well- well drilled to find and produce oil or gas in an unproved area to find a new reservoir in a another reservoir or to extend a known reservoir. Stratigraphic test well- drilling effort to obtain information pertaining to a specific geological condition. â€Å"Exploratory type† if drilled in a proved area, â€Å"development type† if drilled in a proved area. Exploration well- well drilled to discover whether oil or gas exists in a previously unproved geological structure Appraisal well- well drill to determine the size, characteristics, and commercial potential of a reservoir by digging an exploratory well. Classifying Drilling costs Separate intangible drilling costs (IDC) from equipment costs. IDC deducted in year incurred for US tax law. Equipment costs may be depreciated over 7-10 years. Besides tax purposes, distinction has no significance Targeted Depth When evaluating after drilling : if commercial reserves have been discovered, the drilling in progress account balances are transferred to another type of  asset account that will be subject to depreciation The first successful exploratory well’s cost will be reclassified from an unproved to a proved property account If well is unsuccessful, plug and abandon hole and charges these costs to dry hole expense, net any equipment salvaged from well. If the license area is also relinquished, the net carrying value must be written off. Capitalized GG SE- GG costs are to be charged to expense as incurred. Current methods may capitalize 3D and 4D seismic methods used to determine drill sites. Time Limit on exploration and evaluation or appraisal costs In order for cost to be capitalized in SE, there must be identifiable future benefit. IF an exploratory wwell has found oil reserves in an area requiring major capital expenditure to be classified as proved. In this case, the cost of drilling the exploratory well shall continue to be carried as an asset as long as 1. The well has found a sufficient quantity of reserves to justify its completion and 2. Drilling of the additional wells is under way or planned for the near future All other wells, sshall not be carried as an asset for more than one year following completion of drilling Post-balance Sheet Period GAAP provisions that relate to information about conditions that existed at the balance sheet date or that became known after the end of the period but before the financial statements are issued. If well is determined dry, capitalized costs are written off to dry hole expense If commercial reserves are found, the capitalized drilling costs are transferred to the wells and equipment accounts All the capitalized costs of an exploratory well are typically reclassified as dry hole expense or as wells and related equipment Cost approval, budget and monitoring AFE- Authorization for expenditure CHAPTER 6 Drilling And Development Costs- US SE Development costs- costs incurred to obtain access to proved reserves and to  provide facilities for extracting, treating, gathering and storing the oil and gas. More specifically, development costs, including depreciation and applicable operating costs of support equipment and facilities and other costs incurred to: Gain access to and prepare well locations for drilling, including surveying, draining, road building, etc Drill and equip developmental wells, including costs of platforms Acquire, construct and install production facilities such as lease flow lines, separators, etc Provide improved recovery systems Development well- well drilled within the proved area of an oil or gas reservoir to the depth of a stratigraphic horizon known to be productive Service well- completed for the purpose of supporting production in an existing field. Development type stratigraphic well- stratigraphic test well drilled in a proved area Capitalization of Development-Related GG Exploration Costs Requires capitalization of GG in development activities. Unless it is performed on a development land area but to an unknown structure- expensed. If 3d seismic is being used to study the reservoir and perhaps where addition development wells should be drilled, theoretically the cost should be capitalized to the field as development cost. Overhead As a general rule, all GA is expensed, however where the company has a defined method for allocation is permitted to capitalize these costs as part of development Capitalization of Depreciation of Equip and Facilities Depending on nature, costs can be expensed or capitalized Capitalization of Financing Costs â€Å"Capitalization of Interest† requires that a portion of interest costs incurred during the construction phase of assets should be capitalized as a part of the cost of the self-constructed asset. Interest capitalization only applies to qualifying assets: 1. Assets that are constructed or otherwise produced for an enterprise’s own use 2. Assets intended for sale or lease that are constructed or otherwise produced as discrete projects (ships or real estate developments) Amount to interest to capitalize- the portion of  interest costs incurred during the period when the asset is being constructed that could have been avoided if the spending on the asset had not been made. Capitalization period shall begin when 3 conditions are met: Expenditures for asset have been made Activities that are necessary to get the asset ready for its intended use are in progress Interest cost is being incurred Once production begins- depreciate capitalized costs Sole Risk or Carried Interests If an asset requires a period of time in which to carry out the activities necessary to bring it to that condition and location, the interest cost incurred during that period as a result of expenditures for the asset is a part of the historical cost of acquiring the asset. â€Å" CHAPTER 9 Production Costs Costs of labor to operate the wells and related equipment and facilities Repairs and maintenance Materials, supplies, and fuel consumed and services utilized in operating the wells and related equipment and facilities Property taxes and insurance applicable to proved properties and wells and related equipment and facilities Severance taxes Depreciation, depletion and amortization Accounting for Production Costs All costs relating to production activities, including workover costs incurred solely to maintain or increase levels of production from an existing completion interval, shall be charged to expense as incurred. An expenditure that enhances original performance of the well should be capitalized Materials and supplies- capitalize if used in drilling or development. If used in repair or maintenance, they should be expensed. Recompletions- typically involve entering an existing well and deepening or plugging back in order to achieve production in a new formation or a zone in an existing formation. In a currently or previously producing formation or zone should be treated as an expense since the purpose is to restore  production without an increase in commercial reserves If the objective is to develop reserves in a new formation or find new reserves, the activity would be new drilling. (drilling costs could be exploratory or development rather than production) Costs should then be capita lized or expensed depending on SE or FC and on outcome of drilling Taxes (severance or production) should be expensed as production costs Crude Oil Production 1 Barrel = 42 gallons of oil at 60 degrees F API gravity (measure of density) of oil = the higher, the lighter the oil All crude contains BSW- basic sediments and water Disposition: outright sales, direct supply, indirect supply, exchanges, fraccers, or oil used in operations Gas measurement Measurement in mcf is affected by temperature., pressure, compressibility, gravity etc Standard pressure is 14.73 pounds per square inch at 60 degrees Fahrenheit Pre Acquisition Acquisition Exploratory Development Production List the four Oil Gas Agreements used on a worldwide basis and describe each one. 1. US Domestic lease agreement- an oil and gas lease grants to the oil and gas company the right and obligation to operate a property. This includes the right to explore for, develop and produce oil and gas from the property and also obligates the company to pay all costs. (Company is a working interest owner). All costs, all risk. Payment of a signature bonus to mineral rights owner or a royalty. 2. Concession agreement- encountered in operations outside the united states where the mineral rights owner is the local government. Sometimes the government is involved with a joint working interest. Payment of a bonus by the oil company to the government at the time the contract is signed. Payment of a royalty to the government. Responsible for paying all of the costs incurred in developing. 3. Risk service agreement- oil companies erform workovers aimed at restoring or stimulating production including application of current technology to currently producing fields. Bonus to national government at contract signing. Government retains ownership of reserve. Oil company incurs all costs and risks. Operating and capital costs incurred are recovered through payment of operating and capital fees. Government may participate in  operations as a working interest owner. 4. Production Sharing contracts- companies obtain the rights from the government to explore for, develop and produce oil and gas. Company pays bonus to national government at contract date. Pays royalties to government. Government maintains ownership of reserves. Companies incur all risk and costs. Company required to spend a predetermined amount of money, which is recoverable from future production. 2.) Describe the life cycle (Phases) of an Oil Gas Project. Include the Accounting Treatment (ie. Successful Efforts or Full Cost Pool) for each phase. 1. Pre-license prospecting- geological evaluation of relatively large areas before acquisition of petroleum rights. Analyzing GG data. Successful Efforts (SE) Method The Financial Accounting Standards Board (FASB) has issued FASB Statement No. 19 dealing with the successful efforts method. Under the SE method, costs incurred in searching for, acquiring, and developing oil and gas reserves are capitalized if they directly result in producing reserves. Costs which are attributable to activities that do not result in finding, acquiring, or developing specific reserves are charged to expense. The cost center for the SE method is a lease, field, or reservoir. The various types of costs are treated under the SE method as follows: 1. Acquisition Costs: They are capitalized to unproven property until proved reserves are found or until the property is abandoned or impaired (a partial abandonment). If adequate reserves are discovered, the property is reclassified from unproven property to proven property. For tax purposes, acquisition costs are handled the same way except the cost cannot be partially written off as an impairment expense. The property must be abandoned before any cost may be written off. 2. Exploration Costs: They are recorded in two different ways, depending upon the type of costs incurred. a. Nondrilling Costs: Examples of these type of costs are geological and geophysical (G G) costs, costs of carrying and retaining undeveloped properties, and dry hole and bottom hole contributions. These types of costs  are expensed as they are incurred. For tax purposes, nondrilling costs are capitalized to the applicable property. b. Drilling Costs: They are treated differently depending on whether the well drilled is classified as an exploratory well or a developmental well. An exploratory well is a well drilled in an unproven area. A developmental well is a well drilled to produce from a proven reservoir. 1) If an exploratory well is a dry hole, the costs incurred in drilling the well are expensed. If the exploratory well is successful, the costs incurred in drilling the well are capitalized to wells and related equipment and facilities. 2) The costs incurred in drilling developmental wells are capitalized to related equipment and facilities even if a dry hole is drilled. The costs associated with tangible well equipment and facilities are capitalized, regardless of the type of well drilled. For tax purposes, certain costs associated with such equipment are eligible for treatment as deductible IDC. Tax depreciation methods usually allow for a more accelerated rate of depreciation than book or financial depreciation. Also, book depreciation will be computed on 1-10the developmental dry holes and IDC which are capitalized for book purposes but expensed for tax purposes. Therefore, an M-1 adjustment will be required on the difference between the amount of book and tax depreciation. 3. Production Costs: These costs are expensed as incurred, which is the same treatment used for tax purposes. It should be noted, however, that many taxpayers erroneously expense overhead attributable to either acquisition or exploration activities as production costs. Overhead attributable to acquisition and exploration costs must be capitalized. 4. Depletion: This usually requires an M-1 adjustment. Although the cost depletion formula is the same for book and tax purposes, the amount for the basis used in the computation of cost depletion will vary due to the difference in capitalization. In addition, many taxpayers will be allowed to use a larger  percentage depletion deduction Full Cost Method Under the FC method, all costs incurred in exploring, acquiring, and developing oil and gas reserves in a cost center are capitalized. Geological and geophysical (G G) studies, successful and unsuccessful, are capitalized for book and financial purposes. For tax purposes, successful G G costs are capitalized and unsuccessful G G costs are expensed. An M-1 adjustment is required for the amount of unsuccessful G G costs expensed. Delay rental costs are capitalized for book and financial purposes. Exploratory dry hole costs are capitalized for book and financial purposes. For tax purposes, all dry hole costs (exploratory or developmental) are capitalized unless the taxpayer elects to expense them. Since most taxpayers expense these costs for tax purposes, an M-1 adjustment is required. Impaired or abandoned property costs remain capitalized in the cost center for book and financial purposes. For tax purposes, no deduction is allowed unless a property is totally worthless. An M-1 adjustment is required only when an abandonment is claimed for tax purposes. General and administrative costs which are not associated with acquisition, exploration, and development activities are expensed. However, overhead that can be associated with acquisition, exploration, and development activities is capitalized. The costs are handled the same way for tax purposes. Depletion usually will require an M-1 adjustment. In many instances, taxpayers may be able to claim a larger percentage depletion deduction in lieu of cost depletion. Even where cost depletion is claimed for book and financial purposes because of the different capitalization rules, the amount of cost depletion allowable will vary.

Australian Rugby League :: essays research papers

This report investigates the epic battle between the Australian Rugby League which has been around for 87 years and the Super League concept for the control of Rugby League in Australia. One man, Mr Rupert Murdoch, is trying to take over and run a rebel Super League to enhance his power and for financial gain. This Super League is proposed to run in 1996 with a 10 team competition as its prospectus. This report reviews the history of the Australian Rugby League, the battle between Mr.Murdoch and Mr.Packer, the battle of who controls pay television, the players future and junior development. This conflict is mainly based on power, greed and money. The two protagonist's are prepared to go to any lengths to achieve supremacy. I have researched archives, newspapers, pamphlets and watched television to accumulate information of this divisive conflict. 2. The History of the A.R.L. The Australian Rugby League originated in 1908 which was then known as the N.S.W. Rugby League. The game of Rugby League was born long ago and faraway, on the 29th of August 1895 in the stately George Hotel Huddersfield Yorkshire, England. Originally 15 a side teams were reduced to 13 in 1906 and Rugby League's trademark the play the ball was introduced. The changes large and small laid the foundations for the fast moving thrilling game that Rugby League has become. On the evening of August 8 the N.S.W Rugby League was formed with a secret meeting at Sydney's Batemans Hotel. The men driving the new game were: The entrepreneur James Joseph Giltinan, the great cricketer Victor Trumper, the influential politician Henry Clammond Hoyle. The supreme master stroke being the signing of Rugby Unions champion Herbert Henry Dally Messenger at a fee of 180 pounds. In the summer of 1907-08 more meetings resulting in the formation of 9 clubs: Glebe, Newtown, South Sydney, Eastern Suburbs, Western Suburbs, Balmain, North Sydney, Newcastle which only lasted until 1909, and Cumberland. However Cumberland had trouble enticing sufficient players and was forced to amalgamate with Western Suburbs the following season. Rugby League's first season began on Easter Monday 1908 on a wave of unrivalled enthusiasm. To South Sydney went the honour of being Rugby Leagues first champions 14-12 victors over Eastern Suburbs in the premiership final. Over the years more teams have been introduced to make an expanded competition, to strengthen and promote the game locally, nationally and at this present time internationally. The teams that have joined since the inaugural competition include: 1910 Annandale which folded in 1920. 1920 University which folded in 1937. 1921 St George. 1935 Canterbury. 1947 Manly and Parramatta. 1967 Cronulla and Penrith. 1982 Canberra and Illawarra. 1983 Newtown were expelled due to financial problems. Australian Rugby League :: essays research papers This report investigates the epic battle between the Australian Rugby League which has been around for 87 years and the Super League concept for the control of Rugby League in Australia. One man, Mr Rupert Murdoch, is trying to take over and run a rebel Super League to enhance his power and for financial gain. This Super League is proposed to run in 1996 with a 10 team competition as its prospectus. This report reviews the history of the Australian Rugby League, the battle between Mr.Murdoch and Mr.Packer, the battle of who controls pay television, the players future and junior development. This conflict is mainly based on power, greed and money. The two protagonist's are prepared to go to any lengths to achieve supremacy. I have researched archives, newspapers, pamphlets and watched television to accumulate information of this divisive conflict. 2. The History of the A.R.L. The Australian Rugby League originated in 1908 which was then known as the N.S.W. Rugby League. The game of Rugby League was born long ago and faraway, on the 29th of August 1895 in the stately George Hotel Huddersfield Yorkshire, England. Originally 15 a side teams were reduced to 13 in 1906 and Rugby League's trademark the play the ball was introduced. The changes large and small laid the foundations for the fast moving thrilling game that Rugby League has become. On the evening of August 8 the N.S.W Rugby League was formed with a secret meeting at Sydney's Batemans Hotel. The men driving the new game were: The entrepreneur James Joseph Giltinan, the great cricketer Victor Trumper, the influential politician Henry Clammond Hoyle. The supreme master stroke being the signing of Rugby Unions champion Herbert Henry Dally Messenger at a fee of 180 pounds. In the summer of 1907-08 more meetings resulting in the formation of 9 clubs: Glebe, Newtown, South Sydney, Eastern Suburbs, Western Suburbs, Balmain, North Sydney, Newcastle which only lasted until 1909, and Cumberland. However Cumberland had trouble enticing sufficient players and was forced to amalgamate with Western Suburbs the following season. Rugby League's first season began on Easter Monday 1908 on a wave of unrivalled enthusiasm. To South Sydney went the honour of being Rugby Leagues first champions 14-12 victors over Eastern Suburbs in the premiership final. Over the years more teams have been introduced to make an expanded competition, to strengthen and promote the game locally, nationally and at this present time internationally. The teams that have joined since the inaugural competition include: 1910 Annandale which folded in 1920. 1920 University which folded in 1937. 1921 St George. 1935 Canterbury. 1947 Manly and Parramatta. 1967 Cronulla and Penrith. 1982 Canberra and Illawarra. 1983 Newtown were expelled due to financial problems.

Comparison: Claude Monet and Van Gogh

This as not due to a lack in technique or training; this is a style that Monet acquired by using very dappled brushstrokes in his work. The individual brushstrokes portray the different shapes of each object, which enhances the composition of this piece. The overlapping of distinct brush strokes gives the piece depth and a lively quality. For example, the high grass is well depicted as blowing in the wind but this movement would not be as beautifully rendered if Monet didn't use dappled brushstrokes.The Path on the Island of Saint Martin, Bethel has a very rich use of color and rightness that bring a sense of clarity to the piece. Monet uses a variety of color in this piece but sticks to mostly earthy tones which gives the piece a harmonious feeling. Monet did not try to smooth away or diminish the appearance of their brush strokes, which was a popular technique during Impressionism. Another Impressionist â€Å"technique† that Monet used was capturing a fleeting moment. In Pat h on the Island of Saint Martin, Bethel Monet captures the fleeting effects of sunlight that happen throughout that day.Capturing these moments enhances the feeling of a certain impression of the scene. Rain by Vincent Van Gogh is oil painting that was created in 1889. Van Gogh was a famous artist during the Post-Impressionism time period and created artworks that had a strong emotional impact on viewers. Rain has several realistic depictions but stays true to Van Sago's personal experience during the rain storm. Rain has a sad emotional feeling to it, because of the muddy, dark, vivid colors that Van Gogh chose to use.Vincent Van Gogh manipulated many different color lattes in most of his works and he manipulates the colors in Rain by overlapping them to create new tones and shades. The color of the paint that Van Gogh uses perfectly depicts a rainy day; the viewer immediately gets a sense of a gloomy rainstorm when looking at the piece. Van Sago's line work in this piece is extrao rdinary and allows the viewer to experience the rainstorm first hand; his use of long and short diagonal strokes, which cover the entire forefront of the painting, effortlessly depict a rain storm.Van Gogh choose to use thick white strokes of paint to present the rain and it is rendered beautifully especially in contrast to the darker colors in the background. Van Gogh is able to capture the true essence of the rainstorm by painting the piece very blurry. He rejects the idea of the landscape in order for the viewer to focus more on the rain. Behind the blurriness of the piece the viewer can make out a small fence that Van Gogh painted into his piece. The fence is a little asymmetrical, but seems intentional in order to create a sense of depth and achieve Van Sago's perspective during the rainstorm.In comparison, it is apparent hat Post- Impressionism was highly influenced by Impressionism, and there are many similar techniques used in both pieces. Monet and Van Sago's paintings are both portraying an outdoor landscape of a wheat field, but are painted in many different and unique ways. Van Sago's looks as if it was painted wildly and quickly. Motet's piece is clear that he took time to plan each paint stroke. Both oil paintings use earthy color tones but Van Sago's piece has a darker, muddy feel to it because of his technique of manipulating colors.Van Sago's work has a sense of looseness that test the mood and tone perfectly, while Motet's work has a little bit more depiction to objects and the landscape. Both artist use oil paint and keep a thick texture of paint so both pieces have this feeling that they are somewhat Jumping out at you. Motet's piece depicts the landscape quite clearly while Van Sago's piece is much more blurry and he denies much of the landscape. In Motet's piece the trees, landscape, and wheat field are successfully depicted and you can even see some small details. In Van Sago's piece one is more focused on the rain than the blurred out l andscape.Both artists have great use of space that allows the viewer to gain a sense of perspective; Rain seems to be a perspective that was looking down on the wheat filed, while in Path on the Island of Saint Martin, Bethel the viewer is at ground level with the field. In closing, Monet and Van Gogh are very alike in the sense that they both enjoyed painting outdoor landscapes, but they are very different in the way they capture the scenes. Monet strove to capture the essence of a fleeting moment, such as light, while Van Gogh strove to capture the essence of a particular mood or emotion.These two different styles are clearly depicted when walking through the galleries at the Philadelphia Museum of Art. Claude Motet's art work all give the viewer a sense of clarity with the use of earthy and warm colors that he uses to paint landscapes. Van Sago's art work often leaves one pondering of his exact emotive intentions were but for most, if not all, pieces the viewer is definitely able to feel an array of emotions while browsing through Van Sago's work. Path on the Island of Saint Martin, Bethel by Claude Monet. Personal Photograph by Natalie Pagans. 12 Par 2013.

Analysis Of The Poem Southern Gothic - 1566 Words

Devan Gilbert Mrs. Myszkowski English 1102 17 April 2016 Southern Gothic Literature In the 19th century, the Southern Gothic genre quickly became popular after Edgar Allen Poe poems in the 18th century. Most writings were formed around the Civil War era, which plays an enormous part in the tone and setting in Southern Gothic writing styles. (O’Connell 63) Southern Gothic writing elements consist of â€Å"horror, romance and psychological and domestic dramas† (63). The setting of Southern Gothic was always dingy and dark which explains the tone of most southern states at this time. Southern Gothic writing styles were known to be grotesque, violent and gloomy with dark psychological twists that were to be carried on into the 20th century. There can also be other ways to exercise Southern Gothic styles like including strange events, paranormal elements and representing history in an almost comical approach. (63) There are some authors who have written very influential Southern Gothic style literature, such as A Rose for Emily by William Faulkner, A Good Man is Hard to Find and Good Country People by Flannery O’Conner. The father of Southern Gothic literature is William Faulkner, he is the most significant Southern Gothic writer with his most popular publishing A Rose for Emily. He beautifully portrays the Southern Gothic style with a morbid fictional story about Emily Grierson. Emily lost her father and was living alone in a large house in a classy neighborhood, which she feltShow MoreRelatedAnalysis Of Poe s The Fall Of The House Of Usher 3197 Words   |  13 Pagesrenowned for his critical theories as well as his many haunting poems and short stories. But Poe s work hasn’t always been as popular as it is today. In 1827, Poe published his first collection of poetry, Tamerlane, and Other Poems. 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