When adding a run ticket, you will have three fields related the the volume that was hauled.
Only the 'Gross BBLS' is compulsory, whilst the other two are optional.
In order to fill in the fields correctly, please read the short description of each term below:
As we know, the volume of a liquid (oil) changes, depending on the temperature and pressure.
Gross volume = the volume of the liquid at that given time, at the temperature and pressure at that time.
i.e. the volume of the oil at the time of the haul, without being adjusted for temperature and gravity.
Net volume = the volume of the liquid is adjusted to standard conditions of temperature and pressure.
i.e. the volume of the oil at 60°F and API gravity.
Adjusted net volume = the volume is adjusted even further, by considering the basic sediment and water (BS&W), which are certain impurities in crude oil. The BS&W are removed from the total volume.
i.e. the volume of the oil without any sediment or water.