oil - gas conversion
Can you please tell me the relevance of this conversion:
One barrel of crude oil equals 5,614 cubic feet of natural gas.
I guess I am trying to figure out what this information would be used for in the industry and what does it tell us?
Sorry if the question is stupid.
Mike
One barrel of crude oil equals 5,614 cubic feet of natural gas.
I guess I am trying to figure out what this information would be used for in the industry and what does it tell us?
Sorry if the question is stupid.
Mike
Views: 42
Replies to This Discussion
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Permalink Reply by Les Bamburg on -
Mike, there are various conversion factors. All these conversion factors are attempting to equate natural gas and crude oil on an energy basis. The industry sometimes reports production or reserves on a BOE (barrels of oil equivalent) or MMcfe (million cubic feet natural gas equivalent) basis and requires such a conversion.
By the way, there are no stupid questions.
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