A Unitization or Pooling Plan for an Entire Reservoir of Oil

question 3

True/False

A unitization or pooling plan for an entire reservoir of oil is required under various state laws in order to preserve the geological integrity of the reservoir and reduce production costs.

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Definitions:

Predicts Behavior

The ability of certain variables, traits, or conditions to indicate or determine future actions, reactions, or outcomes.

Objective Measures

Quantifiable methods of data collection used to gather unbiased, empirical evidence that is not influenced by personal feelings or opinions.

Personality Traits

Are enduring characteristics or qualities that describe consistent patterns in the way individuals think, feel, and behave.

Statistical Analysis

The process of collecting, exploring, and presenting large quantities of data to discover underlying patterns and trends.