R/C ratio (revenue over cost) formula to calculate maximum cost oil ceiling based on R/C = Gross Production Revenue / (CAPEX + OPEX) Don’t keep this to yourself. Share it & Tell the world. Also, checks these awesome pages 1…. Read More ›
Oil & Gas Notes
My notes around the oil & gas industry
This TCF / F° is given in IP 202/69, as follows:
There are two basic types of procedures used for obtaining a gauge reading, innage and outage (dip and ullage).
Water (gauging) paste are used with gauge bars, bobs and tapes in order to indicate the petroleum and free water interface.
Working with Density at 15°C in air: Observed Ullage – apply corrections – get Corrected Ullage Observed Interface – apply corrections – get Corrected Interface From Corrected Ullage, find Total Observed Volume TOV (in cubic meters) From Corrected Interface, find… Read More ›
Reference: Third edition, August 2013 (Reaffirmed, December 2018).
Based on API MPMS 3.1A 2013.