A barrel of oil equivalent (BOE) is a way of standardizing natural gas and other energy resources against a barrel of oil energy.
This measurement converts gas production into oil production in energy terms.
One barrel of crude oil typically has about the same energy content as 6,000 cubic feet of natural gas, so this amount of natural gas is “equivalent” to one barrel of oil.
Estimated BOE per day (BOE/D) is an important metric for financial analysts and industry insiders when evaluating the performance of energy companies.
It is also possible, but less common, for oil production to be reported in terms of gas equivalent.
Crude oil is a raw natural resource that is extracted from the earth and processed into products such as gasoline, jet fuel and other petroleum products.
The Keystone pipeline was proposed by TC Energy (formerly TransCanadian Corp.) in 2005 to transport new hard-to-recover heavy oil deposits from the oil sands in Canada to US refineries.
The Upstream Capital Cost Index (UCCI) tracks the total capital cost of materials, facilities, equipment and personnel for oil and natural gas projects.