bn-section19

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