Question
Joe Blow leased his mineral rights, reserving 1/8 royalty interest. The joint working interest is owned as follows: Alpha 55% Beta 30% Psi 15% A
Joe Blow leased his mineral rights, reserving 1/8 royalty interest. The joint working interest is owned as follows:
| Alpha | 55% |
| Beta | 30% |
| Psi | 15% |
A successful well was drilled, and total production for the current year was 55,000 bbls.
Calculate the production that each of the WI owners would use in computing DD&A (round to nearest whole bbl and include commas):
Alpha
Beta
Psi
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Advanced Financial Accounting
Authors: Theodore Christensen, David Cottrell, Cassy Budd
12th Edition
1260165116, 9781260165111
