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Barrels Of Oil Equivalent Calculator

Work out barrels of oil equivalent instantly with clear inputs, formula shown and shareable results.

About Barrels Of Oil Equivalent Calculator

Barrels of oil equivalent adds oil, natural gas liquids and gas on an energy basis, converting gas at 5800 to 6000 standard cubic feet per barrel. Reporting the gas share matters because a BOE from gas typically realises far less revenue than a BOE from oil.

Formula

BOE conversion

Gas BOE = gas (scf) / conversion factor; total BOE = oil + NGL + gas BOE

Worked example

With the default values below, Barrels Of Oil Equivalent Calculator returns Total Barrels Of Oil Equivalent of 1,040,000. Change any input above and every figure here is recalculated in your browser.

Inputs used

Oil Volumeminimum 0 bbl
500,000 bbl
Gas Volumeminimum 0 MMscf
3,000 MMscf
NGL Volumeminimum 0 bbl
40,000 bbl
Gas Conversion Factorminimum 1 scf per BOE
6,000 scf per BOE

Results

Total Barrels Of Oil Equivalent
1,040,000
Gas Expressed As BOE
500,000
Gas Share Of Production
48.08%
Liquids Volume
540,000

Step by step

  1. 1Values used
  2. 2BOE conversion
  3. 3Total Barrels Of Oil Equivalent= 1,040,000
  4. 4Gas Expressed As BOE= 500,000
  5. 5Gas Share Of Production= 48.08
  6. 6Liquids Volume= 540,000

Assumptions and limits

  • The result is derived only from the 4 inputs listed above. Anything not among them is not part of the calculation.
  • In particular, this calculator does not take inflation, tax, fees or charges or compounding frequency into account.
  • Figures are rounded for display to 2 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.

How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.

Frequently Asked Questions

Why is BOE criticised?

It equates energy, not value. At six thousand to one, gas priced at 3 dollars per Mscf is worth 18 dollars per BOE while oil is worth 78 — so a company reporting BOE growth from gas is not growing revenue proportionally.

What conversion factor should be used?

6000 scf/BOE is the common industry convention and the SEC basis; 5800 is also widely used. State which you used, because the difference is over 3%.

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