production will begin in a newly discovered oil reservoir. Calculate total oil production (stb), total gas production (MMscf), and total production time (month) from the new field for the data described below, taken from another field with similar characteristics. On an annual basis, program the 30-month production schedule to be created from this field. Determine the cumulative amount of oil and gas production from the field at the end of the 30th month. Nominal decline rate: 0.035 month -1 Initial production rate: 1,800 stb/month GOR: 600 scf/stb Oil sales price: 100 $/stb Gas sales price: 2.5$/Mscf Royalty interest: 0.25 Oil severance tax: %15 Gas severance tax: 0.2 $/Mscf Operating expenses: 10,000 $/month