Allocate wells correctly with IFS Merrick

In this upstream oil and gas video, we take a closer look at lease use and how both the capture of the data and the way allocations are configured can make a significant difference to the final volumes for associated wells.

This is important for operators because:

• It impacts gas production and sales calculations
• It must be reported to state and federal regulatory agencies as volumes distinct from other dispositions and is subject to audit
• It's taxed depending on whether the gas is used as part of oil and gas operations or to enable the movement of product to market
• Taxes associated with lease use can be included in royalty deductions as can volumes associated with additional compression and dehydration to make the gas marketable which can directly impact dollars paid to owners