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Barrels Per Calendar Day: A Key Metric in Oil Refinery Operations
Definition & Meaning
Barrels per calendar day (b/cd) is a measurement used in the oil and gas industry to indicate the actual throughput of a refinery. This figure represents the number of refined barrels of oil produced divided by the total number of days the refinery operated. Unlike designed capacity, which reflects the maximum output a refinery can achieve, barrels per calendar day provides a more accurate picture of actual production levels.
Table of content
Legal Use & context
This term is primarily used in the oil and gas sector, particularly in legal contexts involving contracts, regulatory compliance, and environmental assessments. Understanding barrels per calendar day is crucial for stakeholders, including refinery operators, investors, and regulatory agencies, as it impacts financial reporting, operational efficiency, and environmental regulations. Users can manage related legal documents through platforms like US Legal Forms, which offer templates drafted by qualified attorneys.
Key legal elements
Real-world examples
Here are a couple of examples of abatement:
For instance, if a refinery produces 30,000 barrels of oil over a 30-day operational period, the barrels per calendar day would be calculated as follows:
30,000 barrels · 30 days = 1,000 b/cd.
(hypothetical example)
State-by-state differences
Examples of state differences (not exhaustive):
State
Regulatory Authority
Reporting Requirements
Texas
Railroad Commission of Texas
Monthly reporting of production levels required.
California
California Department of Conservation
Daily production reporting for environmental compliance.
Alaska
Alaska Oil and Gas Conservation Commission
Quarterly reporting of barrels per calendar day.
This is not a complete list. State laws vary, and users should consult local rules for specific guidance.
Comparison with related terms
Term
Definition
Difference
Barrels per day (bpd)
Measurement of oil production per day.
Focuses on daily output rather than total operational days.
Designed capacity
Maximum output a refinery can achieve under optimal conditions.
Represents potential output, not actual production.
Common misunderstandings
What to do if this term applies to you
If you are involved in the oil and gas industry and need to understand or report barrels per calendar day, consider the following steps:
Gather data on your refinery's production levels and operational days.
Utilize US Legal Forms to access legal templates for reporting and compliance documentation.
If you encounter complex legal issues, consult a legal professional for tailored advice.
Find the legal form that fits your case
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