Can you please explain the chart so I can use it to compute allocated sale, sales volume, gross revenue, severance tax, royalty? This is one of my test review questions so I just need to do it for studying. According to the chart, E and D does not have any records, so how do I calculate it ?

1) Weeks Oil and Gas Company manages/ operates oil and gas properties in the Permian Basin and is responsible for exploring, drilling and developing wells on the Gilbert Jones and UHD Leases. Weeks Oil and Gas Company owns a 70% working interest in the Gilbert Jones Lease in Dawson County, Texas on which there is a 1/5 interest with the Gilbert Jones Family and a 100% interest in the UHD Lease in Pecos County which there is a 1/8 royalty interest with the University of Houston. Musch Exploration Company shares a 30% in the Gilbert Jones lease with Weeks Oil and Gas Company. During the month of July 2020, Weeks Oil and Gas Company produced and sold gas to PlainsAmerica and Hess under various Gas Purchasing Agreements, additionally during July 2020 crude oil was produced and sold (after correction for temperature, gravity and BS&W) to Enterprise Products and Nuevo Midstream under the existing Crude Oil Sale Agreements. From the data above: a) Assume the production from each well is commingled, and the commingled hydrocarbons flow is measured and sold at a central delivery metering point based on the flow schematic on page 2. b) July 2019 the following data for the wells on the UHD lease was recorded: Well 24-Hr Test, Mcf 24-Hr Test, bbl. Days Produced D 3,404 Mcf 14 Bbl. 29 9,450 Mcf 140 Bbl. 23 1,023 Mcf 18 Bbl. 30 C) Purchase and Sales Agreements information below. The Purchase and Sales Agreement requires the value and allocation of gas sales on a MMbtu basis using the sale meter Btu analysis. Purchaser Agreement No. Purchaser Nat. Gas Price Oil Price Severance Tax ESP-09 PlainsAmerica $1.895/MMBtu $50.33/Bbl. 6.25% ESH-01 Hess $2.565/MMBtu $48.32/Bbl. 6.25% ETP-18 Enterprise Product $2.030/MMBtu $49.72/Bbl. 6.25% ETN-14 Nuevo Midstream $1.641/MMbtu $51.96/Bbl. 6.25%Well Well Test Heater Treater 800 Mcf UHD Lease well Well Test E Well Wel D. Test Separator Oil Sales Nueva Tank Midstream Battery 5,900 Bbl Gas Compressor 1,300 Mcf Gas Sales (Hess) 338,223 Mcf 1.0385 BtuPlease Use Microsoft Excel or Word. Understand the physical flow of the hydrocarbons and allocate production, applicable fuel and sale volumes for each of the wells on the Gilbert Jones and UHD leases. Allocate production, any on lease fuel as applicable and metered sale volumes for each of the wells on the Gilbert Jones Lease and UHD Lease based on flow schematic on page 2. Perform revenue distribution analysis for each of the interest type {WI 8: RI], Gross Revenue and Severance Tax. Prepare the journal entries to record the sale of the oil and gas, assuming that Weeks Oil and Gas Company receives all of the proceeds and distributes severance taxes and royalty for each of the sale points: Enterprise Products; Plains America; Hess and Nuevo Midstream. {10 points} Please provide the allocated amount of sale volumes {oil 81 gas), gross revenue, severance tax, and royalties allocated to the following wells: (30 pts] Submit your exam file using the following naming convention: Last NameiFirst NameiExamS. Allocated Sale Sales Volume Gross Revenue Severance Tax Royalty Well Volume [MCFl MMBtul [SJ [5} A B C Allocated Sale Sales Gross Revenue Severance Tax Royalty Well Volume (MCFl m (:1 m L51 A B C