No. A couple points that will keep that from happening. Its better to not set expectations out there like that...
1) They didn't average 40kbpd for the entire Q. Probably more like 33-35kbpd?
2) The 40kbpd is actually 40k boepd. Using 85% oil / 15% gas. That's 34kbpd oil / 6 boepd gas. the gas boepd is much lower than the oil.
3) They have 23k bpd is hedged at $95.75 (as per latest presentation). That means only ~10kbpd is being sold at the spot price of $100+
4) WTI has averaged about $10/bbl over 2Q numbers, but the Bakken discount has returned to ~$2/bbl. Net effect would be roughly an $8/bl increase on cash margin per bbl that isn't under the hedging program.
My rough guess for now without doing all the numbers is around $270MM, which is up from $174MM last Q. Average analyst estimate for now is $259MM
Q3 started with 34,000, and they acquired working fields and drilled wells since. Lets say 40,000 barrels per day X 90 days = 3.6 mil barrels X $88.00 (to be conservative) = 316.8 mil. That is my estimate.
Your estimates make sense. The reported June production averaged 30867bopd and the reported July production averaged 30718 bopd (as you explained earlier this doesn't include WI or interest in non-operated wells).. Adding in the gas equivalents and working with the other variables bring in the rough numbers you estimated.