API and gravity essentially will reference the quality of the oil. The higher the API the higher the quality (and value) of the oil. Diesel has an API of almost 50 whereas most asphalt has an API of around 12 to 13. A higher API means you can break the carbon chain into more products or recombine into more products.
His oilness also stated DHP but I think he meant BHP which means "bottom hole pressure". By itself it does not tell you anything but with other intel will tell you a lot.
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