Definitions, Abbreviations & Conversion Factors

A key link for oilfield terms and definitions is the Schlumberger Oilfield Glossary. You might want to bookmark it.

http://www.glossary.oilfield.slb.com/

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Definitions, Abbreviations & Conversion Factors

BOPD = Barrels of oil per day

BOED = Barrels of oil equivalent per day. This includes natural gas on an equivalent BTU basis.

Barrel = 42 gallons U.S.

MMcfe

M means 1,000, MM means one million, B means 1 billion

Natural Gas BTU is usually assumed to be about 1000 as it exits a natural gas plant. It is often about 12 BTU as it exits the well. Natural gas plants remove natural gas liquids NGLs (propane, butane, ethane, etc) that are more valuable than the main component of natural gas which is methane.

TD

E&P

NYMEX oil

Monetizing

Unconventional means horizontal drilling in the target zone.