What is BOE (Barrel of Oil Equivalent)?

Barrel of Oil Equivalent (BOE) is a unit of energy based on the approximate energy released by burning one barrel (42 US gallons) of crude oil. It is used by oil and gas companies in their financial statements to combine oil and natural gas reserves and production into a single measure.

How do you calculate BOE from MCF?

The standard industry conversion factor is 5.8 MCF (thousand cubic feet) of natural gas to 1 BOE. To calculate BOE, divide the total MCF by 5.8.

BOE Converter

Convert between Barrels of Oil (BBL) and Natural Gas (MCF/MMBtu) using the industry-standard energy equivalency factors.

Crude Oil (Barrels)

BBL

Natural Gas (MCF)

MCF

1000 cubic feet

Energy (MMBtu)

MMBtu

Total Barrel of Oil Equivalent

1BOE

Estimated Market Value

Based on live market prices for WTI and Natural Gas

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Understanding BOE

Barrel of Oil Equivalent (BOE) allows for the comparison of different energy sources on a common energy-content basis. While crude oil is measured in barrels, natural gas is measured in cubic feet.

Using BOE helps investors and analysts understand the total energy production profile of diversified energy companies.

Standard Conversions

1 Barrel of Crude ≈ 5,800,000 BTU
1 MCF of Natural Gas ≈ 1,000,000 BTU
Conversion Ratio: 5.8 MCF = 1 BOE
Energy Content: 1 BBL = 5.8 MMBtu