The
barrel of oil equivalent (BOE) is a
unit of energyBecause energy is defined via work, the SI unit for energy is the same as the unit of work – the joule , named in honour of James Prescott Joule and his experiments on the mechanical equivalent of heat...
based on the approximate energy released by burning one
barrelThe barrel is the name of several units of volume, generally in the range of about 100–200 litres .-Dry goods:* US dry barrel: 7,056 cubic inches ....
(42 US gallons) of crude oil. The US
Internal Revenue ServiceThe Internal Revenue Service is the United States federal government agency that collects taxes and enforces the internal revenue laws. It is an agency within the U.S. Department of the Treasury and is responsible for interpretation and application of Federal tax law. The official U.S...
defines it as equal to 5.8 × 10
6 BTU.
5.8 × 10
6 BTU
59 °F equals 6.1178632 × 10
9 JThe joule , named for James Prescott Joule, is the derived unit of energy in the International System of Units. It is the energy exerted by a force of one newton acting to move an object through a distance of one metre...
or about 6.1 GJ (HHV).
Value should be about 5.7 GJ (LHV) see Ton of Oil Equivalent~
A BOE is roughly 6000 cubic feet (170 cubic meters) of typical natural gas.
A commonly used multiple of the BOE is the
kiloThe metric system is an international decimalised system of measurement, first adopted by France in 1791, that is the common system of measuring units used by most of the world. It exists in several variations, with different choices of fundamental units, though the choice of base units does not...
barrel of oil equivalent (kboe or kBOE), which is 1,000 times larger.
Other common multiples are the
BBOe, (also BBOE), or billion barrel of oil equivalent, representing 10
9 barrels of oil, used to measure petroleum reserves, and million barrels per day, MMbd (or MMBD), used to measure daily production and consumption.
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The
barrel of oil equivalent (BOE) is a
unit of energyBecause energy is defined via work, the SI unit for energy is the same as the unit of work – the joule , named in honour of James Prescott Joule and his experiments on the mechanical equivalent of heat...
based on the approximate energy released by burning one
barrelThe barrel is the name of several units of volume, generally in the range of about 100–200 litres .-Dry goods:* US dry barrel: 7,056 cubic inches ....
(42 US gallons) of crude oil. The US
Internal Revenue ServiceThe Internal Revenue Service is the United States federal government agency that collects taxes and enforces the internal revenue laws. It is an agency within the U.S. Department of the Treasury and is responsible for interpretation and application of Federal tax law. The official U.S...
defines it as equal to 5.8 × 10
6 BTU.
5.8 × 10
6 BTU
59 °F equals 6.1178632 × 10
9 JThe joule , named for James Prescott Joule, is the derived unit of energy in the International System of Units. It is the energy exerted by a force of one newton acting to move an object through a distance of one metre...
or about 6.1 GJ (HHV).
Value should be about 5.7 GJ (LHV) see Ton of Oil Equivalent~
A BOE is roughly 6000 cubic feet (170 cubic meters) of typical natural gas.
A commonly used multiple of the BOE is the
kiloThe metric system is an international decimalised system of measurement, first adopted by France in 1791, that is the common system of measuring units used by most of the world. It exists in several variations, with different choices of fundamental units, though the choice of base units does not...
barrel of oil equivalent (kboe or kBOE), which is 1,000 times larger.
Other common multiples are the
BBOe, (also BBOE), or billion barrel of oil equivalent, representing 10
9 barrels of oil, used to measure petroleum reserves, and million barrels per day, MMbd (or MMBD), used to measure daily production and consumption. Also used is the Mtoe, or Millions of tonnes of oil equivalent, a metric measurement equivalent to approximately 0.006841 BBOE.
The BOE is used by oil and gas companies in their financial statements as a way of combining
oilPetroleum or crude oil is a naturally occurring, flammable liquid found in rock formations in the Earth consisting of a complex mixture of hydrocarbons of various molecular weights, plus other organic compounds.The term "petroleum" was first used in the treatise De Natura Fossilium, published in...
and
natural gasNatural gas is a gas consisting primarily of methane. It is found associated with fossil fuels, in coal beds, as methane clathrates, and is created by methanogenic organisms in marshes, bogs, and landfills...
reserves and production into a single measure.