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Two leases in Western Canada are being combined to form the West Unit. Lease 1: WI: 100% Maple Corp. RI: 1/6 Thomas Green 1/8 Laura
Two leases in Western Canada are being combined to form the West Unit.
- Lease 1:
WI: 100% Maple Corp.
RI: 1/6 Thomas Green
1/8 Laura Jones
Acreage contributed: 500 acres
Estimated net recoverable bbls: 220,000 bbls - Lease 2:
WI: 65% Pine Ltd
35% Birch Enterprises
RI: 1/3 Charles Black
Acreage contributed: 300 acres
Estimated net recoverable bbls: 250,000 bbls
a. Determine the participation factors for each party based on the acreage contributed.
b. Determine the participation factors for each party based on the net recoverable barrels contributed.
c. Determine the participation factors for each party based on the acreage contributed weighted 50% and the net recoverable barrels weighted 50%.
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