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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