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29. Hays Oil Company is a new successful efforts company located in New Mexico During September 2020, Hays Oil Company sold 2,000 Mcf of gas

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29. Hays Oil Company is a new successful efforts company located in New Mexico During September 2020, Hays Oil Company sold 2,000 Mcf of gas at 14.65 psia with a heat content of 1.030 MMBtu/Mcf at 14.73 psia. The selling price of the gas was $8.80/MMBtu. REQUIRED: a. Convert Mcf to a standard pressure of 14.73 psia and determine the MMBtus for the gas sold. b. Convert MMBtu/Mcf to a standard pressure of 14.65 psia and determine the MMBtus for the gas sold. c. Determine the sales price of the gas sold. 20

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