Common Abbreviations

Oil and Gas Acronyms and Abbreviations

The oil and gas industry uses many common abbreviations and acronyms. We have provided this list for reference as a convenience to our readers and it is not meant to be all inclusive or compatible with all domestic or international areas as these abbreviations and acronyms may vary based on location.

AFE   Authority for Expenditure   NRI   Net Revenue Interest
BOE   Barrels of Oil Equivalent   NWI   Net Working Interest
BOPD   Barrels of Oil Per Day   OGML   Oil, Gas, & Mineral Lease
C&E   Well Completion & Equipment Cost   ORRI   Overriding Royalty Interest
IDC   Intangible Drilling Cost   PUD   Proved/Possible Undeveloped
IP    Initial Production   RI   Royalty Interest
JOA    Joint Operating Agreement   SI   Shut In
LOE    Lease Operation Expense   SWDW   Salt Water Disposal Well
MCF    One Thousand Cubic Feet (Gas)   TDC   Tangible Drilling Costs
MMCF    Millions of Cubic Feet (Gas)   WI   Working Interest

One barrel = 42 gallons of oil

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