Question
John Smith leased his mineral rights, reserving 1/8 royalty interest. The joint working interest is owned as follows: Company X 60% Company Y 25% Company
John Smith leased his mineral rights, reserving 1/8 royalty interest. The joint working interest is owned as follows:
Company X 60%
Company Y 25%
Company Z 15%
A successful well was drilled, and the total production for the current year was 50,000 bbls.
Calculate the production that each of the WI owners would use in computing DD&A (round to nearest whole bbl and include commas).
Company X
Company Y
Company Z
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Step 12 Given that John smith 18th share John smit...
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
