Production by actual loss allocation

A system for allocating actual production loss of a wellsite, comprising:

• a user interface module configured to capture production data according to a data collection procedure, the production data comprising actual production data and a maximum production potential of the wellsite;
• a data repository configured to store the production data;
• an allocation module configured to selectively allocate at least a portion of the actual production data to the wellsite based on allocation rules to obtain derived production data;
• and
• a loss reconciliation module configured to:
• determine the actual production loss based on the derived production data and the maximum production potential, determine a calculated production loss for one of a plurality of production events based on the maximum production potential and attributes of the one of a plurality of production events, and reconcile the actual production loss and the calculated production loss to determine a cause of the actual production loss.