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Two leases in Southern California are being combined to form the South Field Unit. Lease 1: WI: 100% Sun Coast Co. RI: 1/7 Michael Black
Two leases in Southern California are being combined to form the South Field Unit.
- Lease 1:
WI: 100% Sun Coast Co.
RI: 1/7 Michael Black
1/8 Emma Green
Acreage contributed: 650 acres
Estimated net recoverable bbls: 260,000 bbls - Lease 2:
WI: 65% Ocean Wave Ltd
35% Shoreline Inc
RI: 1/3 Samuel White
Acreage contributed: 450 acres
Estimated net recoverable bbls: 300,000 bbls
a. Calculate the participation factors for each party based on the acreage contributed.
b. Calculate the participation factors for each party based on the net recoverable barrels contributed.
c. Calculate the participation factors for each party based on the acreage contributed weighted 40% and the net recoverable barrels weighted 60%.
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