Barrels Of Oil Equivalent Per Day (BOE/D)
Definition of 'Barrels Of Oil Equivalent Per Day (BOE/D)'
BOE/D is a useful metric for comparing the production or consumption of different energy sources. For example, a power plant that produces 1,000 megawatts of electricity from natural gas would have a BOE/D of 1,000 / 5.6 = 178.5. A power plant that produces the same amount of electricity from coal would have a BOE/D of 1,000 / 170 = 5.9.
BOE/D is also used to track the production and consumption of energy over time. This can be useful for understanding how the energy mix is changing, and for making projections about future energy demand.
In addition to its use in the energy sector, BOE/D is also used in the mining industry to measure the production of oil sands. Oil sands are a type of unconventional oil that is found in sand and clay deposits. The oil is extracted from the sand by mining or by using a process called steam-assisted gravity drainage (SAGD). The BOE/D of an oil sands project is calculated by multiplying the volume of oil produced by its energy content.
BOE/D is a useful metric for comparing the production of different types of oil sands projects. For example, a project that produces 100,000 barrels of oil per day from mining would have a BOE/D of 100,000 * 170 = 17 million BOE/D. A project that produces the same amount of oil per day from SAGD would have a BOE/D of 100,000 * 5.6 = 560,000 BOE/D.
BOE/D is a versatile metric that can be used to compare the production or consumption of different energy sources. It is also a useful tool for tracking the production of oil sands projects.
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