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Started By
Message
O&G industry shorthand for $1,000
Posted on 8/13/18 at 8:31 am
Posted on 8/13/18 at 8:31 am
I worked in accounting/finance for about a decade for an upstream O&G company and it was commonplace to use $M for 1,000 and $MM for 1,000,000.
Now I work for a downstream gas company and they use $k for 1,000 and $m for a 1,000,000. I’ve even seen 3k MCF which I thought was atrocious.
Anyone else work in O&G and see $k and $m? It seems odd to me.
Now I work for a downstream gas company and they use $k for 1,000 and $m for a 1,000,000. I’ve even seen 3k MCF which I thought was atrocious.
Anyone else work in O&G and see $k and $m? It seems odd to me.
Posted on 8/13/18 at 8:36 am to LSUChamp06
i just see them dead presidents $$$$$$$$
Posted on 8/13/18 at 8:36 am to LSUChamp06
quote:
$M for 1,000 and $MM for 1,000,000
This makes 0 sense, compared to this
quote:
$k for 1,000 and $m for a 1,000,000.
ETA: Congrats on padding their books
This post was edited on 8/13/18 at 8:37 am
Posted on 8/13/18 at 8:37 am to LSUChamp06
We use K and M where I'm at. K for Kilo, M for Million. Bossman said it's back assward to use MM when theres only one M in Million. Gotta agree with him there
Posted on 8/13/18 at 8:38 am to LSUChamp06
Have always used m and mm in banking, but when i send an email to someone in a different industry I usually just type it all the way out so there isn’t any confusion.
Posted on 8/13/18 at 8:39 am to SeabrookTiger
quote:
Bossman said it's back assward to use MM when theres only one M in Million.
Congrats on working for a rube.
Posted on 8/13/18 at 8:39 am to LSUChamp06
I use shorthand $1K for $1,000 and $1M for $1,000,000 all the time.
Posted on 8/13/18 at 8:40 am to LSUChamp06
Generally, $MM is the formal million, but it can result in confusion if you deal with anyone from Britain. In my experience, each company has their own way and it's best to go with the flow. It feels weird to type what is effectively "a thousand thousands" when all you want to do is abbreviate.
Posted on 8/13/18 at 8:46 am to LSUChamp06
Always preferred 100000¢ and 100,000,000¢ so there’s no confusion
Posted on 8/13/18 at 8:48 am to LSUChamp06
I can tell you will go far in your career. If you're getting hung up on this sort of minutiae, you're focused on the wrong things.
In the financial profession, you should be focused on the bottom line and demonstrating how you have paid for yourself 3x on an annual basis, not nomenclature.
Also, last job syndrome is one of the most off putting traits of a new employee.
In the financial profession, you should be focused on the bottom line and demonstrating how you have paid for yourself 3x on an annual basis, not nomenclature.
Also, last job syndrome is one of the most off putting traits of a new employee.
Posted on 8/13/18 at 8:49 am to LSUChamp06
In the O&G service sector we report gas flow rates in standard cubic feet per day. We also use mm for milion.
Such as 20 million standard cubic feet would be 20 mmscf/day.
Such as 20 million standard cubic feet would be 20 mmscf/day.
Posted on 8/13/18 at 8:50 am to LSUChamp06
When preparing informal bids for O&G clients we use K and MM.
Posted on 8/13/18 at 8:50 am to LSUfan20005
quote:
Generally, $MM is the formal million,
Well to be fair M is the Roman Numeral for 1,000 so MM is the technically correct abbreviation
Posted on 8/13/18 at 8:52 am to LSUChamp06
Before "K" was adopted as the colloquial way of writing a thousand (i.e. $35k to mean $35,000), it was common to use "M" instead; "M" being the Roman Numeral for 1,000. As a result, "M" simply became shorthand for adding three zeros and thus "MM" became the shorthand for adding six zeros.
Posted on 8/13/18 at 8:53 am to SeabrookTiger
quote:
We use K and M where I'm at. K for Kilo, M for Million. Bossman said it's back assward to use MM when theres only one M in Million. Gotta agree with him there
Can't use MM because there is only one M in million, but has no problem using K then there are zero Ks in thousand and a capital K stands for Kelvin.
Posted on 8/13/18 at 8:54 am to sfdurst
quote:
"M" being the Roman Numeral for 1,000. As a result, "M" simply became shorthand for adding three zeros and thus "MM" became the shorthand for adding six zeros.
MM = one thousand thousands. Good explanation.
Posted on 8/13/18 at 8:55 am to LSUChamp06
1000 is M. 1000000 is MM.
Posted on 8/13/18 at 8:56 am to LSUChamp06
MM is common for Million in O&G
MMCF, MMBTU, MMBBL, etc
MMCF, MMBTU, MMBBL, etc
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