So, are the following calculations correct? Or am I completely on the wrong track?
Based on the following statement: "Gas production is converted to a barrel of oil equivalent (BOE) using the industry standard formula of 6 MMBTU’s equalling 1 BOE. Due to the high caloric value of the produced gas, 1 MCF equals approximately 1.4 MMBTU’s"....
Ray = 600 MCFPD + 140 BOPD
Cozart = 550 MCFPD + 50 BOPD
600 + 550 = 1150 MCFPD, mutiplied by 1.4 = 1610 MMBTUs.
1610 divided by 6 = 268 BOPD
So 268 + 140 + 50 = 458 BOPD current flowback between the two wells?
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