Solve the following problems. Enter your answers on the answer sheets provided (

Question

Solve the following problems. Enter your answers on the answer sheets provided (pages 5-6). A group of adjacent leases is being formed into a single operating Unit. The lease information is given in the table on the answer sheet. Determine the required values to fill in the shaded blanks on the table for each owner in the Unit. A company is developing a Bakken oil shale lease of 1280 acres. The initial well has been on production for 4 months. A second offset well on the same lease has been drilled and stimulated and tested and is waiting for pump installation, which is budgeted and on order. A third direct offset well is currently being drilled into the same common reservoir. What is the reserve category of well #1? What is the reserve category of well #2? What is the reserve category of well #3? A company is deepening an existing well to a new prospective zone on a geologic anticline. Other wells are continuing to economically produce on all sides of the subject well from the original producing zone on the anticline. What is the reserve category of the deepened well? A new gas well has been drilled and successfully tested as a strongly commercial well. The gas pipeline ROW is complete and construction is scheduled to finish next year. What is the reserves category for this new well? The examination continues on the next page.

Explanation / Answer

difficult to solve multi questions at a time

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