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Re: ichjw post# 43431

Saturday, 01/10/2009 3:59:05 PM

Saturday, January 10, 2009 3:59:05 PM

Post# of 51429
It's because most of all the posters here don't know enough about the oil field to even think of that angle. These stripper wells are probably producing about 10% oil, 90% water - that would be typical. It is a constant changing oil / water mix especially if you have a water flood operation in effect in a nearby injection well.

It's all very simple and basic. Each operator must report monthly lease data. As a minimum (variations from state to state as put forward by USC Cowboy) is the beginning oil balance, monthly production, monthly disposition and ending oil balance.

It's just like a checking account. You start with some value at the beginning of each month, you make deposits and withdrawals and you end the month with an ending balance.

The real question here is what data is KGS showing on their site? From PP's answer in talking with the agency, is that it is the production from the ground into the tanks. If someone else gets a different reply from the KGS, please post that...

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