Abbreviations
Common abbreviations and acronyms used in the oil and gas industry.
API American Petroleum Institute
BBL Barrel (42 US gallons)
BOPD Barrels of Oil Per Day
BOE Barrel of Oil Equivalent
BOEPD Barrels of Oil Equivalent Per Day
BTU British Thermal Unit
D&C Drilling and Completion
EUR Estimated Ultimate Recovery
GOR Gas-to-Oil Ratio
IDC Intangible Drilling Costs
IP Initial Production
JIB Joint Interest Billing
LOE Lease Operating Expense
MCF Thousand Cubic Feet
MMCF Million Cubic Feet
NGL Natural Gas Liquids
NRI Net Revenue Interest
OCC Oklahoma Corporation Commission
PPM Private Placement Memorandum
PV-10 Present Value at 10% Discount Rate
SEC Securities and Exchange Commission
TD Total Depth
WI Working Interest
WTI West Texas Intermediate