Glossary of Terms

Glossary of Terms

Glossary of Terms

AFE
authorization for expenditure
AFIT
after federal income tax
AMI
area of mutual interest
API
American Petroleum Institute standards
AOF
absolute open flow potential
BCF
billion cubic feet of gas
BCFE
billion cubic feet of gas equivalent (oil converted to gas at one barrel per 6,000 cubic feet of gas)
BHP
bottom hole pressure
BO
barrels of oil
BOPD
barrels of oil per day
BOE
barrels of oil equivalent
BOEPD
barrels of oil equivalent per day
BTAX NOI
before tax net operating income
BTU
British thermal unit
BW
barrels of water
BWPD
barrels of water per day
CDP
common delivery point
cf
cubic foot
cf/BO
cubic foot per barrel of oil
CIBP
cast iron bridge plug
CO2 Inj
CO2 injection well
cp
centipoise
DST
drill stem test
Dth
decatherm; equals 1 MMBTU
ESA
environmental site assessment
EUR
estimated ultimate recovery
FB
fault block
FT
formation test
FTP
flowing tubing pressure
GAAP
generally accepted accounting principles
GOR
gas–oil ratio
GWC
gas–water contact
HBP
held by production
JOA
joint operating agreement
LKG
lowest known gas
M
thousand
M$
thousand dollars
MBO
thousand barrels of oil or NGLs
MBOPD
thousand barrels of oil or NGLs per day
MBOE
thousand barrels of oil equivalent
MBOEPD
thousand barrels of oil equivalent per day
MBW
thousand barrels of water
MCF
thousand cubic feet of gas
MCFE
thousand cubic feet of gas equivalent
MCFPD
thousand cubic feet of gas per day
MCFPM
thousand cubic feet of gas per month
md
milliDarcy
MM
million
MM$
million dollars
MMBO
million barrels of oil or NGLs
MMBOE
million barrels of oil equivalent
MMBTU
million British thermal units
MMCF
million cubic feet of gas
MMCFE
million cubic feet of gas equivalent
MMCFPD
million cubic feet of gas per day
MMCFEPD
million cubic feet of gas equivalent per day
MW
megawatt
NGL
natural gas liquids
NRI
net revenue interest ownership
NPV
net present value at specific discount rate
NYMEX
New York Mercantile Exchange
ORRI
overriding royalty interest
PDP
proved developed producing reserve category
PDNP
proved developed non–producing reserve category
ppm
parts per million
psi
pounds per square inch
PUD
proved undeveloped reserve category
PV
pre–tax present value of a cash flow stream discounted as of a specific date at a specific discount rate (PV 10% means present value discounted at 10%)
RI
royalty interest
RRC
Railroad Commission
SINFU
Shut–In, No Further Utility
SPE
Society of Petroleum Engineers
Sw
water saturation
SWD
salt water disposal
TA
temporarily abandoned
TCF
trillion cubic feet
TONL
to old, no log
TVD
true vertical depth
WI
working interest
WSW
water supply well
WTI
West Texas Intermediate