Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Determine the barrels of production allocated to each well given the following data: Well 24-hr. Test, bbl Days Produced Total Production Sold 1 45 30

Determine the barrels of production allocated to each well given the following data:

Well

24-hr. Test, bbl

Days Produced

Total Production Sold

1

45

30


2

50

28

3,600 barrels—measured at point of delivery (production from 3 wells commingled)

3

40

26


Requirement:
 Round the ratio to three decimal places and round barrels to the nearest whole barrel.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals Of Oil And Gas Accounting

Authors: Charlotte Wright

6th Edition

9781593703639

More Books

Students also viewed these Accounting questions

Question

6 3 5 . .

Answered: 1 week ago

Question

1 What assumptions guided his management practices?

Answered: 1 week ago