Timing between the two components can take years and usually does. T his glossary of common oil and gas terms and definitions will aid newcomers as well as experienced royalty owners or mineral owners with the terminology used in the oil and gas industry. Our glossary provides a comprehensive guide to the many expressions used. Oil has been used for lighting purposes for many thousand years. Gas leasing terminology a to z this is by no means a complete list of terms used. Historically, we know of the tales of eternal fires where oil and gas seeps would ignite and burn. Obviously, this list is not anywhere near exhaustive or definitive, but this should be the most comprehensive list anywhere. In areas where oil is found in shallow reservoirs, seeps of crude oil or gas may naturally develop, and some oil could simply be collected from seepage or tar ponds. Oil and gas well drilling and servicing etool glossary. The book has been completely updated to reflect the current issues facing oil and gas producers operating in both u. Introduction to oil and gas industry upstream midstream.
The oil and gas industry is one of the worlds largest and most important global industries. The terms are also subject to change as applicable laws and customary practice evolve. Well a well is any opening in the ground, other than a seismic shot hole, that is made by drilling, boring or other method in order to produce or search for oil and gas, obtain water to inject into an underground formation or inject gas, air, water or other substance into an underground formation. It offers publications regarding standards, recommended practices, and other industry related information. While fracking has been credited with opening an extremely large amount of previously unrecoverable fossil fuels, the development of shale gas and oil formations, called plays in industry jargon, can involve many. This list is meant for indicative purposes only and should not be relied upon for anything but general information. Our oil and gas production technology program prepares students for a career in the oil and gas industry. List of abbreviations in oil and gas exploration and. These areas include exploration, production, development, acquisitions, divestitures, debt equity, finance and many more. The spe oil and gas reserves committee ogrc released guidelines for application of the petroleum resources management system pdf in 2011. These are some of the most commonly used oil and gas terms. Glossary of oil and gas terms acreagecontribution agreement a support agreement by which the contributing party agrees to contribute leases or interests in leases in the area of a test well to a drilling party in exchange for information, if the drilling party drills to an agreed depth and develops the information. The term is commonly used in the oil and gas business to convey working interest, leases, royalty, overriding royalty interests and net profit interests.
High volume 25,000 to 300,000 bbl contractual agreements between oil companies dictating delivery of petroleum products or crude. It was founded in 1997 by the oil and gas industry trade associations with the aim of reducing the uk offshore oil and gas industry injury rate by. February 2019 uncontrolled copy once downloaded goto. Mostly coming from user contributions, it is contextual and is meant for indicative purposes only. Another name for produced water or brine produced from oil and gas wells.
As part of our program, you will learn the ins and outs of oil and gas exploration, drilling, completions, and production operations. Glossary of oilfield production terminology got definitions and abbreviations first edition, january 1, 1988 american petroleum institute 1220 l street, northwest. Oil and gas terminology office of the regulator of oil. It includes several terms for which there is no single, commonly accepted definition in the petroleum industry. To permanently plug a dry hole or well that no longer produces. An instrument that measures fluid pressure and usually registers the difference between atmospheric pressure and the pressure of the fluid by indicating the effect of such pressures on a measuring element e. The oilfield glossary schlumberger oilfield glossary. Oil and gas title examination basic terms by kraettli q. An area which is underlain by one or more reservoirs containing oil.
Structure used in offshore drilling on which the drilling rig, crew quarters and other related items are located. Oil gas terms in category w oilfield glossary oil and. The ratio of produced water to oil varies from well to well and over the life of the well. Natural gas naturally occurring in a reservoir with oil. The oil and gas sector can best be described as the bride of the nigerian economy, thus if it is well nurtured. The uk based partnership with the remit to make the uk the safest oil and gas exploration and production province in the world. Offshore oil and gas industry abbreviations and acronyms. This helpful opis glossary can assist you in better understanding many oil industry terms. Increasing the flow of oil from a well by pumping hydrochloric acid into the well under high. We gathered industry leaders to help map out our degree program to ensure your success after graduation.
Increase the flow of oil from a well by introducing acid into a. Common oil and gas industry terms explained a financial institution such as bank, brokerdealer, insurance company or business development company. To discontinue attempts to produce oil or gas from a well or lease and to plug the reservoir in accordance with regulatory requirements and recover equipment. The terms used in oil and gas well exploration can be confusing to anyone. Oil has been used for lighting purposes for many thousands of years. In this book, we describe and analyze the global oil and gas industry with a focus on the strategic, financial, and business aspects of the industry.
Produced water contains soluble and nonsoluble oilorganics, suspended solids, dissolved solids, and various chemicals used in the production process. If you would like to discuss mineral rights related. For example, a petroleum engineer might find the book helpful on the meaning of the unless clause in an oil and gas lease. The oil and gas industry uses many jargons, acronyms and abbreviations. Fact sheet shale gas and oil terminology explained. Of a measurement, expresses degree of confidence in result of measurement of a certain quantity compared with result of another measurement of the same quantity. Bc oil and gas commission glossary and definitions version 1. In mud terminology, refers to the density of a drilling fluid. The schlumberger oilfield glossary is an evergreen, instant reference that takes up no space on your bookshelf and offers many special features. Oil and gas glossary oilfield glossary oil and gas.
The oil and gas industry uses many acronyms and abbreviations. Any director, officer or general partner of the issuer. There are many areas of service for legal matters involving oil and gas. Glossary of oilfield production terminology got definitions and abbreviations. A chronological history of ownership of a tract of land. Plus, be sure to check out other free and helpful resources from opis. The use of fluorotechnology in the oil and gas industry supports more than 7,000 jobs in the u. The sale, transfer or conveyance of all or a fraction of ownership interest or rights owned in real estate or other such property. Sign in here or forgot password sign up now and get free access to our extensive library of reports, infographics, whitepapers, webinars and online events from the worlds foremost thought leaders. Fracking involves injecting fluid into a body of rock to create fissures from which natural gas and oil can be extracted. Produced water is water that comes out of the well with the crude oil during crude oil production. Oil and gas forms, leases and documents us legal forms. The 221page document replaces the 2001 guidelines for evaluation of reserves and resources with content expanded to focus on using the 2007 prms to classify petroleum reserves and.
When getting involved with a major or independent oil and gas companies or pipelines, its best to have legal backing and protection because the. Terminology covering oil and g as interests for title purposes. Bld bailed refers to the practice of removing debris from the hole with a cylindrical container on a wireline. The barrel of oil equivalent boe is a unit of energy approximate equal to the energy released by burning one barrel 158. Historically, we know of tales of eternal fires where oil and gas seeps would ignite and burn. Crosscommodity trading is also a new reality from oil, gas, lng, co2 allowances, to coal, basic and precious metals and uranium requiring familiarity with trading terminology among a wider range of professionals. Historically, we know the tales of eternal fires where oil and gas seeps ignited and burned. Launched in 1998, the oilfield glossary, which includes more than 4600 entries, continues to expand and improve. The schlumberger oilfield glossary has received awards of excellence from the business marketing association and the society for technical communication. Manual of oil and gas terms is an easytouse softcover desk reference that defines the words and phrases most useful to lawyers, landmen, accountants, investors in oil and gas properties, students and others involved in the industry. We also have a page of oil and gas abbreviations and acronyms.
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