kbbl meaning in oil and gas

Thousand Barrels

Composite abbreviation using the SI (metric) prefix for 1,000 (k) with the US customary (oil-field) unit of measure for Barrel (bbl). In US Units a thousand barrels is expressed as mbbl (or Mbbl) and that introduces potential ambiguity since "M" is the SI prefix for 1,000,000. In US measurement the prefix "MM" represents a million; this is less likely to lead to confusion with SI as "compounding" of prefixes is not allowed under SI convention (although the same letter may be used twice, once for the unit and once for the prefix, eg mm, where the first "m" represents 1/1000 and the second "m" is metre). In the SI system the units and prefixes are case-specific but this convention is not always followed in daily use.