Barrel of oil equivalent
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The barrel of oil equivalent (bboe, sometimes BOE) is a unit of energy based on the approximate energy released by burning one barrel of crude oil. The US Internal Revenue Service defines it as equal to 5.8 × 106 BTU [1].
5.8 × 106 BTU59 °F equals 6.1178632 × 109 J or about 1.70 MWh.
A commonly used multiple of the bboe is the kilo barrel of oil equiavalent (kbboe or kBOE), which is 1,000 times larger.
The bboe is used by oil and gas companies in their financial statements as a way of combining oil and natural gas reserves and production into a single measure. A bboe is equivalent to 6 mcf (thousand cubic feet) of natural gas. This is derived by valuing an mcf as containing about 1/6 of the energy of a barrel of oil.
