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margintoptwo"> <h1>Common Abbreviations</h1> </div> </div> </div> </div> <script type="text/javascript"> var imgCount = 8; var dir = 'https://web.archive.org/web/20200422135719/https://www.arescotx.com/bgimages/'; var randomCount = Math.round(Math.random() * (imgCount - 1)) + 1; var images = new Array images[1] = "01.jpg", images[2] = "02.jpg", images[3] = "03.jpg", images[4] = "04.jpg", images[5] = "05.jpg", images[6] = "06.jpg", images[7] = "07.jpg", images[8] = "08.jpg", document.getElementById("rotator").style.backgroundImage = "url(" + dir + images[randomCount] + ")"; </script> <div class="container content"> <div class="row"> <div class="col-lg-12 col-md-12 recent" style="margin-top:18px;"> <div class="vc_row wpb_row row"><div class="wpb_column vc_column_container vc_col-sm-9"><div class="vc_column-inner "><div class="wpb_wrapper"> <div class="wpb_text_column wpb_content_element "> <div class="wpb_wrapper"> <p><i>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.</i></p> <table border="0"> <tbody> <tr> <td style="text-align: right;"><strong>AFE</strong></td> <td style="width: 10px;"></td> <td>Authority for Expenditure</td> <td style="width: 35px;"></td> <td style="text-align: right;"><strong>NRI</strong></td> <td style="width: 10px;"></td> <td>Net Revenue Interest</td> </tr> <tr> <td style="text-align: right;"><strong>BOE</strong></td> <td></td> <td>Barrels of Oil Equivalent</td> <td></td> <td style="text-align: right;"><strong>NWI</strong></td> <td></td> <td>Net Working Interest</td> </tr> <tr> <td style="text-align: right;"><strong>BOPD</strong></td> <td></td> <td>Barrels of Oil Per Day</td> <td></td> <td style="text-align: right;"><strong>OGML</strong></td> <td></td> <td>Oil, Gas, & Mineral Lease</td> </tr> <tr> <td style="text-align: right;"><strong>C&E</strong></td> <td></td> <td>Well Completion & Equipment Cost</td> <td></td> <td style="text-align: right;"><strong>ORRI</strong></td> <td></td> <td>Overriding Royalty Interest</td> </tr> <tr> <td style="text-align: right;"><strong>IDC</strong></td> <td></td> <td>Intangible Drilling Cost</td> <td></td> <td style="text-align: right;"><strong>PUD</strong></td> <td></td> <td>Proved/Possible Undeveloped</td> </tr> <tr> <td style="text-align: right;"><strong>IP </strong></td> <td></td> <td>Initial Production</td> <td></td> <td style="text-align: right;"><strong>RI</strong></td> <td></td> <td>Royalty Interest</td> </tr> <tr> <td style="text-align: right;"><strong>JOA </strong></td> <td></td> <td>Joint Operating Agreement</td> <td></td> <td style="text-align: right;"><strong>SI</strong></td> <td></td> <td>Shut In</td> </tr> <tr> <td style="text-align: right;"><strong>LOE </strong></td> <td></td> <td>Lease Operation Expense</td> <td></td> <td style="text-align: right;"><strong>SWDW</strong></td> <td></td> <td>Salt Water Disposal Well</td> </tr> <tr> <td style="text-align: right;"><strong>MCF </strong></td> <td></td> <td>One Thousand Cubic Feet (Gas)</td> <td></td> <td style="text-align: right;"><strong>TDC</strong></td> <td></td> <td>Tangible Drilling Costs</td> </tr> <tr> <td style="text-align: right;"><strong>MMCF </strong></td> <td></td> <td>Millions of Cubic Feet (Gas)</td> <td></td> <td style="text-align: right;"><strong>WI</strong></td> <td></td> <td>Working Interest</td> </tr> </tbody> </table> <p>One barrel = 42 gallons of oil</p> </div> </div> <div class="vc_row wpb_row vc_inner row vc_custom_1455060740385 vc_row-has-fill vc_column-gap-30 vc_row-o-equal-height vc_row-flex"><div class="bigitalic wpb_column vc_column_container vc_col-sm-12 vc_col-has-fill"><div class="vc_column-inner vc_custom_1455060747740"><div class="wpb_wrapper"> <div class="wpb_text_column wpb_content_element vc_custom_1455055445441 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