One barrel of crude oil or NGL or 42 gallons of liquid volume.

One billion cubic feet of natural gas volume.

One billion cubic feet of natural gas equivalent.

Barrel of oil equivalent.

British thermal unit. One British thermal unit is the amount of heat required to raise the temperature of one pound of water by one degree Fahrenheit.

Refers to the work performed and the installation of permanent equipment for the production of natural gas and crude oil from a recently drilled well.

A well drilled to find a new field or to find a new reservoir in a field previously found to be productive of oil or gas in another reservoir.

Procedure to stimulate production by forcing a mixture of fluid and proppant into the formation under high pressure. Fracturing creates artificial fractures in the reservoir rock to increase permeability and porosity, thereby allowing the release of trapped hydrocarbons.

Held by production – reference to the status of an oil and gas lease.