b) A vertical oil well has been drilled and completed. The productive zone is between the depths of 2,800 and 2,900 feet, you can assume there is oil in the entire thickness (gross = net). The average porosity is 10%, average water saturation is 20% and the oil formation volume factor is 1.3 RB/Stb. Other reservoirs with similar properties have drainage areas of 40 acres and the recovery factor 104730596 (it is known with extreme precisionl). Compute STOIIP and ultimate recovery, using the formals presented in lecture. (4 Marks) This well will also have a gas oil ratio (GOR) of 800 scf/bbl, how much gas is expected to be produced from this well? (2 Marks) The well in question 1 gets put on production on Jan 1, 2022. It has the following oil volumes produced every year until it a technical limit of 5 bopd. The graph of oil rate vs time is also shown below, it is an exponential decline. Oi| Rate 100 8 Oil Rate {bbl!d) 3 Date