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Metric regions commonly use the tonne of oil equivalent (toe), or more often million toe (Mtoe). Since this is a measurement of mass, any conversion to barrels of oil equivalent depends on the density of the oil in question, as well as the energy content. Typically 1 tonne of oil has a volume of 1.08 to 1.19 cubic metres (6.8 to 7.5 bbl).
According to the American Petroleum Institute (API), a standard barrel of oil is the amount of oil that would occupy a volume of exactly 1 barrel (158.99 L) at reference temperature and pressure conditions of 60 °F (15.6 °C) and 14.696 psi (1,013.25 hPa) (or 1 atm). This standard barrel of oil will occupy a different volume at different ...
Source: L.C. Nøttaasen on Flickr. Pioneer Natural Resources looks to be sitting on an unbelievable amount of oil and gas. The company now controls about 845 million barrels of oil equivalent, or ...
The tonne of oil equivalent (toe) is a unit of energy defined as the amount of energy released by burning one tonne of crude oil.It is approximately 42 gigajoules or 11.630 megawatt-hours, although as different crude oils have different calorific values, the exact value is defined by convention; several slightly different definitions exist.
The combined company should produce over 816,000 barrels of oil equivalent (BOE) per day. Diamondback now has over 6,100 total drilling locations remaining at a break-even level of less than $40 a ...
U.S. energy giant Chevron expects 1 million barrels of oil equivalent per day from Kazakhstan's Tengiz oil field, which is among the world's biggest. Meanwhile, an Exxon executive downplayed hopes ...
Due to the risk of confusion with the SI convention where the "M" prefix stands for "mega" representing million, the Society of Petroleum Engineers recommends in their style guide that abbreviations or prefixes M or MM are not used for barrels of oil or barrel of oil equivalent, but rather that thousands, millions or billions are spelled out. [1]
ExxonMobil replaced 115 percent of its 2012 production and 174 percent of its crude oil and other liquids, increasing proved reserves to 25.2 billion oil equivalent barrels.