The present invention relates to a method and system for treating a flow back fluid exiting a well site following stimulation of a subterranean formation. More specifically, the invention relates to processing the flow back fluid, and separating into a carbon dioxide rich stream and a carbon dioxide depleted stream, and continuing the separation until the carbon dioxide concentration in the flow back stream until the carbon dioxide concentration in the flow back gas diminishes to a point selected in a range of about 50-80 mol % in carbon dioxide concentration, after which the lower concentration carbon dioxide flow back stream continues to be separated into a carbon dioxide rich stream which is routed to waste or flare, and a hydrocarbon rich stream is formed.