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Description |
This constant approximates the number of mmBtu in a gallon of Propane. This value is important in the calculation of a Frac Spread. |
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Syntax |
PN_mmBtu=0.0915 |
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Parameters |
NA |
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Return Value |
0.0915 |
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Examples |
retval = Scale(PN#.recent / PN_mmBtu, SPREAD_SCALE)
Dividing the price of propane by the PN_mmBtu constant gives the price of one mmBtu of Propane. |
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Comments |
Propane futures are quoted in cents per gallon and traded in units of 42,000 gallons (1,000 barrels). One gallon of Propane in gaseous form contains approximately 91,500 British Thermal Units (Btus), or 0.0915 mmBtu per gallon.
To adjust the approximation of mmBtu per gallon of Propane, change this constant. |
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