Common 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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