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this is the entire question 22. Jackson Oil Company's production for Lease A and Lease B is gathered into a common system and sold. Total
this is the entire question
22. Jackson Oil Company's production for Lease A and Lease B is gathered into a common system and sold. Total sales for the month of July are 6,562 barrels. Assume the following data for Lease A and Lease B: Well 24-hour Test, bbl Days Produced 1 24 2 30 30 3 50 28 Lease B: 1 50 30 2 40 Lease A: 80 24 Measured production is 3,300 barrels from Lease A and 3.500 barrels from Lease B. REQUIRED: a. Allocate production to each lease. b. Allocate the amounts per lease determined in part a to the wells. Round the ratios to four decimal places. Cand Lease D is estimated Step by Step Solution
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