Abstract: A portable oilfield fluid management system and method provides display information concerning fluid status and includes a plurality of local sensing units which can be selectively attached in any order to a plurality of different storage tanks having different sizes, shapes and capacities located in different oilfields. A plurality of cable segments each of equal predetermined length are used to interconnect the attached local sensing units to each other in a serial connection and a central touch activated monitor located away from the local sensing units is interconnected to the first attached local sensing unit by means of an elongated cable. Because the local storage units which function to measure the level of fluid in the storage tanks can be attached to the storage tanks in any order, the central touch-activated monitor autoconfigures the local sensing units by assigning binary addresses to each attached local sensing unit.