Glossary
boe= barrels of oil equivalent
boe/d = barrels of oil equivalent per day
Mcf = thousand cubic feet (natural gas)
MMcf = million cubic feet (natural gas)
Bcf = billion cubic feet (natural gas)
Tcf = trillion cubic feet (natural gas)
Mcf/d = thousand cubic feet per day (natural gas)
MMcf/d = million cubic feet per day (natural gas)
Bcf/d = billion cubic feet per day (natural gas)
Please Note
Progress has adopted the industry standard conversion ratio of 6 Mcf per boe; this conversion is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.
LNG = liquefied natural gas
Supercooled natural gas that is maintained as a liquid at or below -160°C
NGLs = natural gas liquids
Liquids obtained during natural gas production, including ethane, propane, butanes and condensate
Probable reserves
Reserves believed to exist with a reasonable certainty based on geological information
Proved reserves
Reserves that can be economically produced with a large degree of certainty from known reservoirs using existing technology
Sweet gas
Raw natural gas with a relatively low concentration of sulphur compounds, such as hydrogen sulphide
Western Canadian Sedimentary Basin
Canada’s largest region of sedimentary rocks; the largest source of current oil and gas production, covering all of Alberta and parts of Manitoba, Saskatchewan, British Columbia, and the Yukon