Question
Three wells in Eastern Montana have the following data: Well 1: 24-hr. Test: 60 bbl Days Produced: 30 days Well 2: 24-hr. Test: 55 bbl
Three wells in Eastern Montana have the following data:
- Well 1:
24-hr. Test: 60 bbl
Days Produced: 30 days - Well 2:
24-hr. Test: 55 bbl
Days Produced: 29 days - Well 3:
24-hr. Test: 50 bbl
Days Produced: 28 days
Total Production Sold: 8,000 barrels—measured at point of delivery (production from 3 wells commingled)
Requirement:
Determine the barrels of production allocated to each well. Round the ratio to three decimal places and round barrels to the nearest whole barrel.
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
