RE: 140 Mcf a day17 Jan 2018 05:06
Have tried to research values. Confusing as Mcf is 1000 cubic feet, not million, and therefore suggests 140Mcf is worth f all. Hoping my calcs are wrong but:
Mcf is 1000 cubic feet, therefore 140 x 1000 = 140,000 cubic feet per day.
1000 cubic feet is approximately equal to 1,000,000 BTU which is how gas spot price is measured.
Average spot price per million BTU is around $3 so 140 x $3 is only $420 per day ???
Can anyone else clarify if this is correct or not? Maybe it explains the lack of sp reaction of sgco. Regardless hopefully fracking will provide major uplift in flow rate.