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South Texas Net Production...thru March 2020 Barrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet of natural gas to one barrel of crude oil is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency conversion ratio of 6:1, utilizing a conversion on a 6:1 basis is misleading as an indication of value. These reports usually posted on the 1st of each month...reflect total production submitted by the TRRC...and have become meaningless in estimating "revenue generating" results...So Net BOE production has been reworked using the Oil/Gas % energy equivalency conversion ratio (GER) published each month by the NDIC...as an approximation... Leona River Prospect..Eagle Ford..KM Ranch #1H & #2H..30% WIMonth..Oil....Gas..GER..Gas Eq..BOE..Net BOE Oct....569...4,094...21:1....195......764.....229 Nov...572...4,701....23:1....204.....776.....233 Dec...549...4,304....31:1....139.....688.....206 Jan...597...4,693....34:1.....138.....735....221 Feb...535...3,808....32:1.....119.....654....196 Mar...536...4,342....18:1.....241.....772....233 Crimson Booth Tortuga Prospect..Combined BUDA / AC / EF Well Production...30% WI Month..Oil.......Gas....GER..Gas Eq..BOE....Net BOE Oct....3,605...20,499....21:1...976....4,581....1,374 Nov...3,621...20,978....23:1...912....4,533.....1,360 Dec...3,690...17,855....31:1...576....4,266.....1,280 Jan...3,437....19,128....34:1...563....4,000.....1,200 |