Abbreviations
Common abbreviations and acronyms used in the oil and gas industry.
APIAmerican Petroleum Institute
BBLBarrel (42 US gallons)
BOPDBarrels of Oil Per Day
BOEBarrel of Oil Equivalent
BOEPDBarrels of Oil Equivalent Per Day
BTUBritish Thermal Unit
D&CDrilling and Completion
EUREstimated Ultimate Recovery
GORGas-to-Oil Ratio
IDCIntangible Drilling Costs
IPInitial Production
JIBJoint Interest Billing
LOELease Operating Expense
MCFThousand Cubic Feet
MMCFMillion Cubic Feet
NGLNatural Gas Liquids
NRINet Revenue Interest
OCCOklahoma Corporation Commission
PPMPrivate Placement Memorandum
PV-10Present Value at 10% Discount Rate
SECSecurities and Exchange Commission
TDTotal Depth
WIWorking Interest
WTIWest Texas Intermediate