Glossary of Definitions
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