Understanding the distinction between lease level volumes and well level volumes is crucial as it will significantly influence how you analyze or calculate volumes.
This article will focus on oil as an example, but it is worth noting that the same principles can be applied to gas or water as well.
Production Chart
The oil monthly on the production chart indicates the total oil volume reported for the lease, while the allocated oil monthly represents the specific amount of oil that has been allocated to this particular well for the month.
The cumulative oil shown in the ribbon above the chart represents the total cumulative production for the lease. On the other hand, the allocated figures to the right indicate the cumulative production that has been specifically allocated to this well.
Why Allocate Production?
In states that report data at a lease level with multiple wells on each lease, we have a very detailed process that we follow to allocate the production down to the well level. We believe in transparency in our allocation process, and the following link will step through our methodology using Texas as an example: WellDatabase Production Allocation Methodology
Exporting Production Data
When exporting data, "total oil" will represent the lease level reported oil and may include multiple wells in this number, whereas the "allocated oil" will represent the volumes that went through the allocation process and are specific to a well. Here is another article on exporting lease level production and a link to our data definitions if you would like to explore other definitions.
Allocated values can be accessed with any of our paid subscription levels.