WHAT EXACTLY DOES 1440 BTU GAS MEAN ??

In consol energys quarterly report they mention that the TUSC 3A well had 38 api oil and 1440 btu gas. Just wondered if someone could help me out on what 1440 btu gas means for us landowners

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Permalink Reply by Jack Straw on July 30, 2012 at 9:03am

To expand upon the above:

An mcf of Dry Gas (Methane) contains around 1mmbtu of energy.

A barrel of Oil contains around 6 mmbtu of energy.

I am going to go out on a limb and guessimate that an average barrel of NGLs contains around 4 mmbtu of energy.

1mmbtu of Natural Gas will "cost" you $3.14.

1mmbtu of Natural Gas Liquids (NGLs) will "cost" you around $12.50.

1mmbtu of Oil will "cost" you around $16.67.

 

Currently, Natural Gas is insanely cheap.

For industrial consumers, Natural Gas is a huge bargain.

 

All IMHO,

                 JS

 

 

 

Permalink Reply by Brian Powers on August 1, 2012 at 12:30am

JS and others -

gas volumes are measured under "standard conditions" ( 60 degrees F and normal atmospheric pressure, +/- 14.7 psi/ft, which must be corrected for altitude at the test location. Volumes are often stated in mcf, thousand cubic feet, but mre correctly, mscf or thousand standard cubicfeet. Gas is bought and sold by the heat content, mmbtu per mcf, not the volume. As stated by many posters in this thread, the higher the btu the more liquid content and usually high value, thus more royalty for the mineral owners.

 

Drill, baby, drill, then frac till the cows come home!

 

Brian

Permalink Reply by shawn miller on July 30, 2012 at 12:39pm

also does anybody know how these numbers compare to gas produced in other countys like carroll, harrison and guernsey?

Permalink Reply by TM on August 15, 2012 at 8:49am

I read recently that the Gulfport Wagner well south of Harrison county line had 1,214 BTU gas in it and was supposed to produce 432 barrels of condensate. The Frank well in Stark county had 47 degree API oil in it. So it looks like the numbers vary from county to county.

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