Oil & Gas Acronyms

The Millennium Exploration Glossary of Oil and Gas Terms is intended to be an informal reference tool for understanding oil and gas industry terminology. It is not intended to be a definitive or exhaustive reference, nor should it be relied upon or used in the development of contracts, investment decisions or reporting.

BBL

                One stock tank barrel, of 42 U.S. gallons liquid volume, used in reference to crude oil, bitumen, condensate or natural gas liquids.

BCF

                One billion cubic feet of natural gas

BO

Barrel of Oil

BOED

                Barrels of oil equivalent per day.

BOP

Blow Out Preventer.

BOPD

Barrels of Oil Per Day

LD

                Lay Down

MMCF

                One million standard cubic feet of natural gas. In the United States, standard conditions are defined as gas at 14.7 psi and 60 degrees Fahrenheit

MBBL

                One thousand barrels of crude oil, bitumen, condensate or natural gas liquids

MCF

One Thousand Cubic Feet of Gas

MCFPD

One Thousand Cubic Feet of Gas Per Day

MD

Measured Depth

MI

Move In

MMBBL               

                One million barrels of crude oil, bitumen, condensate or natural gas liquids

MW

Mud Weight

NRI

Net Revenue Interest (See Glossary of Oil and Gas Terms)

OD

                Outside Diameter

ORRI

                Overriding Royalty Interest (See Glossary of Oil and Gas Terms)

PU

                Pick Up

RDMO

Rig Down Move Out

RI

Royalty Interest (See Glossary of Oil and Gas Terms)

RU

Rig Up

SDFN

Shut Down For Night

SWIFN

Shut Well In For Night

TCF

                One trillion cubic feet of natural gas

TIH

Trip In Hole

TOOH (or TOH)

Trip Out Of Hole

WI

                Working Interest (See Glossary of Oil and Gas Terms)

WLT

Wire Line Truck