Glossary

Abbreviations

AECO

reference pricing point for natural gas at a natural gas storage facility near the Alberta-Saskatchewan border

API

American Petroleum Institute

°API

the measure of the density of liquid petroleum products derived from a specific gravity

bbl and bbls

barrel and barrels, respectively, each barrel representing 34.972 imperial gallons or 42 U.S. gallons

bbls/d and bopd

barrels per day and barrels of oil per day, respectively

boe

barrels of oil equivalent. To provide a single unit of production for analytical purposes, natural gas production and reserves volumes are converted mathematically to equivalent barrels of oil (boe). We use the industry-accepted standard conversion of six thousand cubic feet of natural gas to one barrel of oil (6 Mcf = 1 bbl). The 6:1 boe ratio is based on an energy equivalency conversion method primarily applicable at the burner tip. It does not represent a value equivalency at the wellhead and is not based on either energy content or current prices. While the boe ratio is useful for comparative measures and observing trends, it does not accurately reflect individual product values and might be misleading, particularly if used in isolation.

boe/d

barrels of oil equivalent per day

Mbbls

one thousand barrels

Mboe

one thousand barrels of oil equivalent

MMbbls

one million barrels

MMboe

one million barrels of oil equivalent

MMBtu

one million British Thermal Units

Mcf

one thousand cubic feet

Mcf/d

one thousand cubic feet per day

MMcf

one million cubic feet

MMcf/d

one million cubic feet per day

NGL

natural gas liquids

WTI

West Texas Intermediate

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Conversions

The following table sets forth certain standard conversions between Standard Imperial Units and the International System of Units (or metric units).

To Convert FromToMultiply By
Mcf cubic metres 28.174
cubic metres cubic feet 35.494
bbls cubic metres 0.159
cubic metres bbls 6.290
feet metres 0.305
metres feet 3.281
miles kilometres 1.609
kilometres miles 0.621
acres hectares 0.4047
hectares acres 2.471

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