Jackson Oil Companys production for Lease A and Lease B is gathered into a common system and

Question:

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:

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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.

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