Other common multiples are the
BBOe, (also BBOE), or billion barrel of oil equivalent, representing 109 barrels of oil, used to measure petroleum reserves,
[3] and million barrels per day, MMbd (or MMBD), used to measure daily production and consumption.
[4] Also used is the Mtoe, or
Millions of tonnes of oil equivalent, a metric measurement equivalent to approximately 0.006841 BBOE.
[5]
The BOE is used by oil and gas companies in their financial statements as a way of combining
oil and
natural gas reserves and production into a single measure.