Bbl – one barrel consisting of 34.972 Imperial gallons or 42 U.S. gallons.
BOE – barrel of oil equivalent. For this purpose natural gas is converted on the basis of 6 MCF to 1 barrel of oil equivalent.
BOPD – barrels of oil per day.
gross acres – the total number of acres in which Bonterra holds a working interest or right to earn a working interest.
gross wells – the total number of wells in which Bonterra has a working interest.
MBbl – 1,000 barrels of oil.
MCF – 1,000 cubic feet.
MCFD – 1,000 cubic feet per day.
MMCF – 1,000,000 cubic feet.
NGLs – natural gas liquids.
net acres – refers to gross acres multiplied by the percentage working interest therein owned or to be owned by Bonterra.
net wells – refers to gross wells multiplied by the percentage working interest therein owned or to be owned by Bonterra.
working interest – the interest held by Bonterra in an oil and gas property, which interest normally bears its proportionate share of the costs of exploration, development, and operations as well as any royalties or other production burdens.