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Units in Calculations

Example 1 

A forumla is to be used to create a capital amount.  The formula specifies that the capex is equal to fifteen times the daily oil rate (in millions of Bbls per day). Using this formula, an oil rate of 2,000 Bbls/day should produce a capital expense of $30,000.

The formula would look like:

=@Base(Imperial, FluidVolume, @oil())*15





The formula takes the oil rate - @oil() which will return a value in m3/day.  This is then multiplied by the conversion rate @Base() to work in Bbls/day.  The result is then left in dollars which is our base unit.


Example 2

The water production is entered in the Decline as a formula.  The water is equal to the gas production in millions of standard cubic feet per day (mmscf/day) times 5 bbls/mmscf/day.  So for 2,000 mcf/day, we expect water proudction of 10 bbls/day.

The formula is entered as:

=@Base(Imperial, FluidVolume,@DataRate(Gas ,Production ))*5/@Base(Imperial,GasVolume,1)/1,000

The function performs two conversions.  The first converts the gas production rate ,@dataRate(Gas,Production) from metric to imperial by dividing by the gas conversion factor @Base(Imperial,GasVolume,1) = 0.02831 to Imperial.

This entire results (now in bbls) is converted to base units (remember the calculation is in base) by converting the above result with the @Base function.


The complete WellSpring unit table and conversion factors are shown below