Q1. An oil well has produced consistently for the last five years. The monthly oil production for each year is given in the table below. It costs $2,000 per month to operate the well, the current oil price is $60/Stb, and the severance tax is 7.085% of the gross value. The well is not producing any associated gas. Compute the following: Parts f,g,h,i, only Tha rananinin. +ha wall f. Ultimate oil recovery g. Production for 2011,2012, and 2013 h. Confirm the reserves obtained by using the rate-cumulative oil production plot. i. Generate the cash flow to the EL of the lease Oil Production, Stb Month 2008 2006 2007 2009 2010 January 2,399 1,882 1,637 1,334 1,151 1,621 February 2,059 1,265 1177 1,028 March 1,808 1,536 1,386 1,208 1,15 pril 1,627 1,55 1,310 1,191 1,075 ay 1,699 1,526 1,300 1370 1,08 1,24 1,553 June 1,575 1,315 983 July 1,618 1,514 1.289 1,268 1,037 August 1,660 1,428 1,299 1312 959 September 1,575 1,320 1,240 1,224 989 October 1,538 1,534 1,290 1,229 897 November 1,54 1,309 1,240 1,202 1,044 December 1,702 1474 1,348 1,229 996 Q1. An oil well has produced consistently for the last five years. The monthly oil production for each year is given in the table below. It costs $2,000 per month to operate the well, the current oil price is $60/Stb, and the severance tax is 7.085% of the gross value. The well is not producing any associated gas. Compute the following: Parts f,g,h,i, only Tha rananinin. +ha wall f. Ultimate oil recovery g. Production for 2011,2012, and 2013 h. Confirm the reserves obtained by using the rate-cumulative oil production plot. i. Generate the cash flow to the EL of the lease Oil Production, Stb Month 2008 2006 2007 2009 2010 January 2,399 1,882 1,637 1,334 1,151 1,621 February 2,059 1,265 1177 1,028 March 1,808 1,536 1,386 1,208 1,15 pril 1,627 1,55 1,310 1,191 1,075 ay 1,699 1,526 1,300 1370 1,08 1,24 1,553 June 1,575 1,315 983 July 1,618 1,514 1.289 1,268 1,037 August 1,660 1,428 1,299 1312 959 September 1,575 1,320 1,240 1,224 989 October 1,538 1,534 1,290 1,229 897 November 1,54 1,309 1,240 1,202 1,044 December 1,702 1474 1,348 1,229 996