GLOSSARY OF TERMS
The following is a list of certain industry terms used throughout this report:
Bbl . . . . . . . . . . . . . . . . . . . . . . . . . barrel
Bbls/d . . . . . . . . . . . . . . . . . . . . . . . barrels per day
Bcf . . . . . . . . . . . . . . . . . . . . . . . . . one billion cubic feet
Bcf/d . . . . . . . . . . . . . . . . . . . . . . . . one billion cubic feet per day
Btu . . . . . . . . . . . . . . . . . . . . . . . . . British thermal unit, a measurement of energy
Fractionation . . . . . . . . . . . . . . . . . .
the process by which natural gas liquids are separated into individual
components
Frac spread . . . . . . . . . . . . . . . . . . . price differences, measured in energy units, between equivalent
amounts of natural gas and NGLs
MBbls . . . . . . . . . . . . . . . . . . . . . . . one thousand barrels
MMBbls . . . . . . . . . . . . . . . . . . . . . one million barrels
MBbls/d . . . . . . . . . . . . . . . . . . . . . one thousand barrels per day
MMBtu . . . . . . . . . . . . . . . . . . . . . . one million Btus
MMBtu/d . . . . . . . . . . . . . . . . . . . . one million Btus per day
MMcf . . . . . . . . . . . . . . . . . . . . . . . one million cubic feet
MMcf/d . . . . . . . . . . . . . . . . . . . . . . one million cubic feet per day
NGLs . . . . . . . . . . . . . . . . . . . . . . . natural gas liquids
Throughput . . . . . . . . . . . . . . . . . . .
the volume of product transported or passing through a pipeline or other
facility
ii