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15. Lynx Oil and Gas Company owns a 60% working interest in the Coors Lease that has a 1/5 royalty. Buffalo Oil Company has a
15. Lynx Oil and Gas Company owns a 60% working interest in the Coors Lease that has a 1/5 royalty. Buffalo Oil Company has a 40% working interest. The estimated proved oil and gas reserves expected to be recoverable from the Coors Lease total 200,000 bbl of oil. What quantity should be included in the disclosure of proved oil and gas reserves for Lynx Oil and Gas Company? O 150,000 bbl O 120,000 bbl 96,000 bbl 40,000 bbl
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