What does Billions of Cubic Feet Equivalent BCFE mean?
A standard unit of measure used in natural gas industry. BCFE measures volume of gas. One BCF means one billion cubic feet of natural gas. The suffix ‘E’ after BCF is used to indicate equivalent amount of energy for oil. 6,000 cubic feet of natural gas being equal to one barrel of oil.
Futures Knowledge Explains Billions of Cubic Feet Equivalent BCFE
In oil & gas industry, Billions of Cubic Feet Equivalent is a term used to measure gas and compare energy released by oil or gas. On burning one barrel of crude oil you will get the same amount of energy as produced by burning 6,000 cubic feet of natural gas. The energy produced by 6,000 BCFE of natural gas is equal to the energy produced by one barrel of oil. 1 billion cubic feet NG is also equivalent to 0.026 million metric tons oil.