Problem 3: Apache has recently purchased an oil field in the North Sea. The following information has been provided for Apache's newly purchased field: Bo Porosity Drainage area Water saturation Formation thickness Recovery factor Cumulative production 1.6 0.15 45 acres 0.25 10 ft 35% 9000 STB a) Calculate the original oil in place for Apache's new field in STB b) Calculate the remaining reserves in Apache's field in STB Problem 3: Apache has recently purchased an oil field in the North Sea. The following information has been provided for Apache's newly purchased field: Bo Porosity Drainage area Water saturation Formation thickness Recovery factor Cumulative production 1.6 0.15 45 acres 0.25 10 ft 35% 9000 STB a) Calculate the original oil in place for Apache's new field in STB b) Calculate the remaining reserves in Apache's field in STB