The weighted average reports lists the volumetric weighted average of oil values for each of the seven Alaska North Slope Units. This average is computed by multiplying the gross state lease volume in each accounting unit within the Unit by the royalty value in each accounting unit (before applicable field cost allowances) for each lessee and dividing the sum of these products by the total gross state volume in the unit. Over time, many of the lessees revise their values. On occasion, the operator revises gross volume or the allocation of this volume to the lessees. Whenever values or volume allocations are revised a new weighted average report is published.
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