Barrel of Oil Equivalent definition

Barrel of Oil Equivalent or “BOE” means one (1) Barrel of Crude Oil or one (1) Barrel of NGLs or six thousand (6,000) SCFof Dry Gas.

Barrel of Oil Equivalent means that 6000 standard cubic feet of Natural Gas at standard temperature (15oC) and pressure (1.01325 bars) is equivalent to one Barrel of Crude Oil for the purposes of volumetric calculations under this Contract;

Barrel of Oil Equivalent means the calculation method of aggregate production volumes using a conversion for natural gas volumes at a ratio of six thousand cubic feet per Barrel of oil.

Examples of Barrel of Oil Equivalent in a sentence

• Readers’ Advisory Barrel of Oil Equivalent: Where amounts are expressed on a barrel of oil equivalent (“boe”) basis, natural gas volumes have been converted to boe at a ratio of 6,000 cubic feet of natural gas to one barrel of oil equivalent.

• All petroleum products could be converted into Barrel of Oil Equivalent (BOE) based on their heat contents.

• For conversion purposes, one Barrel of Oil Equivalent (1 BOE) corresponds to five thousand seven hundred Cubic Feet (5,700 ft3) of Natural Gas, or to zero coma two zero five Coal Equivalent Tones (0.205 CET).

• Henry Hub, reference price paid in US$ for natural gas deliveriesMcf Thousand cubic feetMmbtu Million British Thermal UnitsMmbtu/d Million British Thermal Units per dayNGLs Natural gas liquidsWTI West Texas Intermediate, reference price paid in US$ for crude oil of standard grade Barrel of Oil Equivalent Advisory Where amounts are expressed on a Boe basis, natural gas volumes have been converted to Boe using a ratio of 6,000 cubic feet of natural gas to one barrel of oil (6 Mcf:1 Bbl).

• Operating activities - Average reserve life index Ratio between the amount of reserves at the end of the year and total production for the year.- Boe (Barrel of Oil Equivalent) Is used as a standard unit measure for oil and natural gas.

More Definitions of Barrel of Oil Equivalent

Barrel of Oil Equivalent means 6,000 cubic feet of natural gas per 42-gallon barrel of crude oil or a volume of gas with a minimum heating value of 6,000,000 British thermal units (6,000 Mbtu), whichever is greater.

Barrel of Oil Equivalent or "BOE" means the volume of Crude Oil, Condensate, Natural Gas or LPG determined in Million British Thermal Units (MMBTU’s) on heat content basis in accordance with the good international Petroleum industry practices.

Barrel of Oil Equivalent means that 6000 standard cubic feet of Natural Gas at standard temperature (15oC) and pressure (1.01325 bars) is equivalent to one Barrel of Crude Oil for the purposes of volumetric calculations under this Contract;

Barrel of Oil Equivalent and “boe” means the combined volume of oil, natural gas, and natural gas liquids by adding oil volume in barrels, natural gas liquids volumes in barrels, and by converting natural gas to an equivalent volume by dividing each one thousand standard cubic feet by six.

Barrel of Oil Equivalent means 6,000 cubic feet

Barrel of Oil Equivalent. The combined volume of oil and gas expressed in barrels, converting each 5.626 thousand cubic feet of gas to a barrel of oil.

Barrel of Oil Equivalent means a unit of energy that is equal to 5.8 × million BTU; “Service” means the Federal Inland Revenue Service unless it is specifically stated otherwise; “British Thermal Unit” or “BTU” means the calculation of the amount of energy needed to heat 1 pound of water by 1 degree Fahrenheit and 1 BTU = 1.06 Kilojoules “Casing Head Petroleum Spirit” means any liquid hydrocarbons obtained in Nigeria from natural gas by separation or by any chemical or physical process but before the same has been refined or otherwise treated; “Chargeable Condensates” in relation to a company engaged in upstream petroleum operation means condensate won or obtained by the company from such operations; “chargeable natural gas” in relation to a company engaged in Petroleum operations means natural gas actually disposed by such company to a customer, based on arm’s length gas sales purchase contract (GSPA) in respect of which revenue is earned.; “Chargeable Oil” in relation to a company engaged in Petroleum operations, means casing head petroleum spirit and crude oil won or obtained by the company from such operations; “Chargeable Profit” means chargeable profit as stated in Chapter 5 of this Act; “Chargeable Tax” means chargeable tax as stated in Chapter 5 of this Act; “Commercial” means matters relating to economic ventures, returns on investments and profitability;