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Q4. An oil well has produced consistently for the last five years. The monthly oil production for each year is given in the table below.

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Q4. 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: a. The EL based on 100% WI and 87.5% NRI b. The exponential decline based on a graphed plot of production versus time C. The remaining oil reserves as of 1/1/2011 d. Production rate at the end of 2011 e. The remaining life of the well f. Ultimate oil recovery g. Production for 2011, 2012, and 2013 Month 2010 January February March April May June July August September October 2006 2,399 2,059 1,808 1,627 1,699 1,575 1,618 1,660 1,575 1,538 1,541 1,702 Oil Production, STB 2007 2008 2009 1,882 1,637 1,334 1,621 1,265 1,177 1,536 1,386 1,208 1,551 1,310 1,191 1,526 1,300 1,370 1,553 1,241 1,315 1,514 1,289 1,268 1,428 1,299 1,312 1,320 1,240 1,224 1,534 1,290 1,229 1,309 1,240 1,202 1,474 1,348 1,229 1,151 1,028 1,151 1,075 1,081 983 1037 959 989 897 November 1,044 December 996 Q5. For the problem stated in the question Q4, generate the cash flow to the EL of the lease. I Q4. 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: a. The EL based on 100% WI and 87.5% NRI b. The exponential decline based on a graphed plot of production versus time C. The remaining oil reserves as of 1/1/2011 d. Production rate at the end of 2011 e. The remaining life of the well f. Ultimate oil recovery g. Production for 2011, 2012, and 2013 Month 2010 January February March April May June July August September October 2006 2,399 2,059 1,808 1,627 1,699 1,575 1,618 1,660 1,575 1,538 1,541 1,702 Oil Production, STB 2007 2008 2009 1,882 1,637 1,334 1,621 1,265 1,177 1,536 1,386 1,208 1,551 1,310 1,191 1,526 1,300 1,370 1,553 1,241 1,315 1,514 1,289 1,268 1,428 1,299 1,312 1,320 1,240 1,224 1,534 1,290 1,229 1,309 1,240 1,202 1,474 1,348 1,229 1,151 1,028 1,151 1,075 1,081 983 1037 959 989 897 November 1,044 December 996 Q5. For the problem stated in the question Q4, generate the cash flow to the EL of the lease

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