Seemingly Insignificant Hydrocarbon Measurement Inaccuracies Account For Significant Revenue Losses

Inaccuracies in hydrocarbon measurements can cause significant revenue losses for a company. This paper will discuss the problems associated with hydrocarbon measurements and the preventive measures a company can take to correct the inaccuracies. Historically, exploration and production companies have adopted a casual attitude to the necessity of accurate hydrocarbon measurements. All too often this author has heard, "Our measurements are pretty close: anyway what's a few barrels between friends". These types of attitudes can cause significant revenue losses for a company as the examples below demonstrate.