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 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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Financial Accounting
Authors: Robert F. Meigs, Jan R. Williams, Mark S. Bettner, Susan F. Haka, Sue Haka
11th Edition
0072516682, 978-0072516685
