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Understanding Petroleum Production Acronyms, Phrases & Abbreviations
Posted On January 24, 2015
Tag: bbl/d, bcf, bcfe, boe, boe/d, gross production, lng, mbbbl, mboe, mcf, million tons lng, mmbbl, net production, total field production, wti
Definitions
| Bcf | Billion cubic feet. |
| Bcfe | Billion cubic feet of natural gas equivalent. |
| bbl | Barrel of oil. |
| bbl/d | Barrel of oil per day. |
| boe | Barrel of oil equivalent. Boe’s may be misleading, particularly if used in isolation. The Colombian standard is a boe conversion ratio of 5.7 Mcf:1 bbl and is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. |
| boe/d | Barrel of oil equivalent per day. |
| Mbbl | Thousand barrels. |
| Mboe | Thousand barrels of oil equivalent. |
| MMbbl | Million barrels. |
| MMboe | Million barrels of oil equivalent. |
| Mcf | Thousand cubic feet. |
| Million Tons LNG | One million tons of LNG (Liquefied Natural Gas) is equivalent to 48 Bcf or 1.36 billion m3 of natural gas. |
| Net Production | Company working interest production after deduction of royalties. |
| Total Field Production | 100% of total field production before accounting for working interest and royalty deductions. |
| Gross Production | Company working interest production before deduction of royalties. |
| WTI | West Texas Intermediate Crude Oil. |
Boe may be misleading, particularly if used in isolation. A boe conversion ratio of 5.7 Mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.
Source: Pacific Rubiales
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