AECO The AECO “C” spot price, which is the Alberta gas trading price, has become one of North America’s leading price-setting benchmarks.
Ac Acre(s)
AGM Annual General Meeting
AIF Annual Information Form
API An American Petroleum Institute measure of specific gravity
ASP Alkaline Surfactant Polymer – “water flooding”
B billion(s)
bbl/d barrel(s) per day
Bcf billion cubic feet (natural gas)
Bcfe billion cubic feet equivalent
boe barrel(s) of oil equivalent
boe/d barrel(s) of oil equivalent per day
bopd barrel(s) of oil per day
bwpd barrel(s) of water per day
Btu British thermal unit; a measure of the energy required to raise the temperature of one pound of water by one degree Fahrenheit.
C$ Canadian dollar
CAPEX Capital expenditure
CO2 Carbon dioxide
D Darcy
DCET Drill case equipment tie-in
E&E Exploration and Evaluation
EOR Enhanced oil recovery
F&D Finding and Development
FD&A Finding Development and Acquisition
G&A General and Administrative
GAAP Generally Accepted Accounting Principles
GLJ GLJ Petroleum Consultants
GORR Gross overriding royalty
GJ Gigajoule; one billion joules
Ha Hectare(s)
HZ Horizontal drilling
HF Hydraulic fracturing
IFRS International Financial Reporting Standards
IRR Internal rate of return
$k thousand(s) of dollars
km kilometre(s)
LIBOR London Interbank Offered Rate
Liquids oil natural gas liquids (LNG) and condensates
LNG Liquefied Natural Gas
m metre(s)
mD mili darcy
M thousand(s)
M&A Mergers and Acquisitions
Mcf thousand cubic feet
Mcf/d thousand cubic feet per day
Mbbl/d thousand barrel(s) per day
Mboe/d thousand barrel(s) of oil equivalent per day
$MM million(s) of dollars
MM million(s)
MMbbl million barrel(s)
MMboe million barrel(s) of oil equivalent
MMbtu million British thermal unit(s)
MMcf million cubic feet
MMcf/d million cubic feet per day
MMcfe/d million cubic feet equivalent per day
NGL Natural Gas Liquid(s)
NI National Instrument
NPV Net present value
NYMEX New York Mercantile Exchange
OGIP Original gas in place
OOIP Original oil in place
OPEC Organization of Petroleum Exporting Countries
OPEX Operations expense
OPINC Operating income
ORRI Overriding royalty interest
P+P Proved plus probable reserves
PDP Proved developed producing
PP&E Property plant and equipment
PV Present value
RLI Reserve life index
ROI Return on investment
SEC US Securities and Exchange Commission
TSX Toronto Stock Exchange
Tcf trillion cubic feet
US United States of America
US$ United States dollar
WI Working interest
WTI West Texas Intermediate
WCSB Western Canada Sedimentary Basin

      

Examples:

US$ 20MM – twenty million dollars US
$20MM – twenty million dollars
$20k – twenty thousand dollars
20 Mboe/d – twenty thousand barrels of oil equivalent per day
20 MMboe/d – twenty million barrels of oil equivalent per day
20 Mcf/d – twenty thousand cubic feet per day
20 MMcf/d – twenty million cubic feet per day