N-O-P-Q-R-S-T-U-V-W-X-Y-Z]
[A]
API
American Petroleum Institute
API gravity
The industry standard method of expressing specific gravity of crude oils. Higher API gravities mean lower specific gravity and lighter oils.
Associated gas
Gas occurring in combination with crude oil, as distinct from gas occurring separately or manufactured from crude oil.
ASTM
American Society for Testing Material which establishes many of the technical standards used in the oil industry
[B]
Barrel
A measurement used in the oil industry for a unit of volume of oil, oil products or natural gas condensate equivalent to
158.978 litres or 42 US gallons. Abbreviated to "bbl".
Barrels per day
A unit of measurement used in the industry for the production rates of oil fields, pipelines, and transportation. Abbreviated to
"bpd", "b/d" or "bbl/d".
Barrels per calendar day
Industry measurement of actual refinery throughput as opposed to designed capacity. Derived by dividing the number of refined barrels of oil by the actual number of days the refinery was in operation. Abbreviated to "b/cd".
BBtu
Billion Btu's.
Bcf
Billion cubic feet.
Bcfe
Billion cubic feet of natural gas equivalent using ratio of one Bbl of oil or condensate to six Mcf of natural gas.
"Black" oil
Crude oil or heavy fuel oil from the bottom of the refining process as opposed to "white" oil.
Btu
British thermal unit, the heat required to raise the temperature of a one-pound mass of water from 58.5 to 59.5 degrees
Fahrenheit.
[C]
Cogeneration
The simultaneous generation of electrical energy and low-grade heat from the same fuel.
Condensate
A term used to describe light liquid hydrocarbons separated from crude oil after production and sold separately.
Cracking
Refinery process whereby large, heavy, complex hydrocarbon molecules are broken down into simpler and lighter molecules
in order to derive a variety of fuel products.
Crude oil
A mineral oil consisting of a mixture of hydrocarbons of natural origin, yellow to black in colour, of variable specific gravity
and viscosity
[D]
Development Location
A location on which a development well can be drilled.
Development Well
A well drilled within the proved area of an oil or gas reservoir to the depth of a stratigraphic horizon known to be productive
in an attempt to recover proved undeveloped reserves.
Distillation
The first stage in the refining process in which crude oil is heated and unfinished petroleum products are initially separated.
Downstream
The oil industry term used to refer to all petroleum activities from the processing of refining crude oil into petroleum products to the distribution, marketing, and shipping of the products. The opposite of downstream is upstream .
Drilling Unit
An area specified by governmental regulations or orders or by voluntary agreement for the drilling of a well to a specified
formation or formations, which may combine several smaller tracts or subdivide a large tract and within which there is usually some right to share in production or expense by agreement or by law.
Dry Hole
A well found to be incapable of producing either oil or gas in sufficient quantities to justify completion as an oil or gas well.
Electrotellurics® should minimize this.
[E]
Electrotelluric® technology
A low frequency telluric instrument (Electrotelluric® survey), used to map hydrocarbons in the subsurface strata at depth. The system incorporates digital signal processing (DSP) software and acquisition hardware. The survey can be run either digitally or analog, or on a strip chart recorder for immediate field review. Patents are issued.
Estimated Future Net Revenues
Revenues from production of oil and gas, net of all production related taxes, lease operating expenses and capital costs.
Exploratory Well
A well drilled to find and produce oil or gas in an unproved area, to find a new reservoir in a field previously found to be
productive of oil or gas in another reservoir or to extend a known reservoir.
[F]
Fuel oils
Oil that is heavy-distilled in the refining process. Frequently used for supplying energy to power stations and factories.
[G]
Gas oil
A medium-distilled oil from the refining process. Often used in diesel fuel.
Gross Acre
An acre in which a working interest is owned.
Gross Well
A well in which a working interest is owned.
[H]
Hydrocarbons
Compounds containing only the hydrogen and carbon atoms. May be in solid, liquid or gaseous form.
Hydrocracking
High pressure version of catalytic cracking in the presence of hydrogen.
[I]
Infill Drilling
Drilling for the development and production of proved undeveloped reserves that lie within an area bounded by producing wells.
[J] [K]
(no entries)
[L]
Lease Operating Expense
All direct costs associated with and necessary to operate a producing property.
Liquified natural gas (LNG)
Natural gas liquified either by refrigeration or by by pressure.
Liquified petroleum gas (LPG)
A mixture of butane, propane and other light hydrocarbons derived from refining crude oil. At normal temperature it is a gas but it can be cooled or subjected to pressure to facilitate storage and transportation.
[M]
MBbl
Thousand barrels.
Mcf
Thousand cubic feet.
Mcfe
Thousand cubic feet of natural gas equivalent, determined using the ratio of one Bbl of oil or condensate to six Mcf of natural gas.
MMBbl
Million barrels.
MMBtu
Million Btu's.
MMcf
Million cubic feet.
MMcfe
Million cubic feet of natural gas equivalent.
[N]
Natural gas
Petroleum in gaseous form consisting of light hydrocarbons often found in association with oil. Methane is the most dominant component.
Natural Gas Liquids
Liquid hydrocarbons which have been extracted from natural gas (e.g., ethane, propane, butane and natural gasoline).
Net Acres/Net Wells
The sum of the fractional working interests owned in gross acres or gross wells.
[O]
Operator
Term used to describe a company appointed by venture stake holders to take primary responsibility for day-to-day
operations for a specific plant or activity.
[P]
Petrochemicals
Chemicals such as ethylene, propylene and benzene that are derived from petroleum
Polymerisation
Refining process which uses low temperature reforming to increase the octane value of gasoline
Pour point
The ability of crude oil to flow at low temperatures.
Productive Well
A well that is producing oil or gas or that is capable of production.
Proven Developed Reserves
Reserves that can be expected to be recovered through existing wells with existing equipment and operating methods.
Proven Reserves
Estimated quantities of oil and gas which geological and engineering data demonstrate with reasonable certainty to be
recoverable in future years from known reservoirs under existing economic and operating conditions.
Proven Undeveloped Reserves
Reserves that can be expected to be recovered from new wells on undrilled acreage or from existing wells where a relatively
major expenditure is required for recompletion.
[Q]
(no entries)
[R]
Recompletion
The completion for production of an existing wellbore in another formation from that in which the well has previously been completed.
Refining
Refining is the process of converting crude oil into usable fuel products.
Refining margins
Refining margins are the difference in value between the products produced by a refinery and the value of the crude oil used to produce them. Refining margins will thus vary from refinery to refinery and depend on the price and characteristics of the crude used.
Reforming
Refinery process aimed at improving gasoline quality by changing chemical characteristics rather than breaking up molecules as in cracking.
Reserves
An economically recoverable quantity of crude oil or gas.
Reservoir Characterization
The areal extent, porosity, permeability and other parameters of a hydrocarbon reservoir.
[S]
Seismic
An interpretation of geologic strata through measurement and recording of sound wave transmission below the surface.
Sour crude oil
Crude oil with a high sulphur content.
Specific gravity
A measure of thedensity of a material usually obtained by comparing it with water.
Sweet crude oil
Crude oil with a low sulphur content.
Synfuels
Synthetically petroleum products produced from coal, or natural gas.
[T]
Terminal
Plant and equipment designed to receive and process crude oil or gas to remove water and impurities.
Topping
The primary distillation phase of a refinery process, and by derivation, the type of refinery and its yield of products
Throughput
The total amount of raw materials processed by a refinery or other plant in a given period.
[U]
Undeveloped Acreage
Lease acreage on which wells have not been drilled or completed to a point that would permit the production of commercial quantities of oil and gas regardless of whether such acreage contains proved reserves.
Upstream
The processes of exploring for oil; developing oil fields; and producing oil from the oil fields.
[V]
Viscosity
The resistance to flow
[W]
Waterflood
Method whereby water is injected into producing formations to drive otherwise unrecoverable oil reserves to producing wells.
"White" oil
Lighter products from the top end of the refining process as distinct from 'black" oil.
Working Interest
Operating interest which gives the owner the right to drill, produce and conduct operating activities on the property and a
share of production.
[X, Y, Z]
(no entries)