Eias proposed definitions for natural gas liquids author. Financial terms abbreviations used institutional data base. Conventional oil and gas definition 2b1st consulting. The uk based partnership with the remit to make the uk the safest oil and gas exploration and production province in the world. Glossary of oil and gas terms learn the language of oil. A marketing company that buys and resells gas and is owned. Historically, we know the tales of eternal fires where oil and gas seeps ignited and burned.
A chronological history of ownership of a tract of land. The oil and gas industry uses many acronyms and abbreviations this list is meant for indicative purposes only and should not be relied upon for anything but general information. Sometimes used in the oil and gas industry, to refer to ownership of both the surface interest and the mineral interest. An oil well is a laymans term for any perforation through the earths surface designed to find and release both petroleum oil and gas hydrocarbons. Oil and gas production handbook an introduction to oil. The oil and gas industry is the largest sector in the world in terms of dollar value. As the voice of the upstream oil and natural gas industry in canada, we provide a comprehensive glossary of industry terms abandonment converting a drilled well to a condition that can be left indefinitely without further attention and will not damage freshwater supplies, potential petroleum reservoirs or the environment.
This glossary and definitions is an additional resource to accompany the manuals, guidelines and forms in applying for a permit and adhering to the regulatory and reporting requirements during construction and operations. Following each definition is, in parentheses, the publicationss in which it is. A well blows out when formation pressure exceeds the pressure being applied to it by the column of drilling fluids and measures are unsuccessful in rectifying this situation. Additives specialty chemicals incorporated into fuels and lubricants that enhance the. It contributes significantly to the gross domestic product gdp of many nations and generates billions of. The society of petroleum engineers spe oil and gas reserves committee, made up of international oil and gas experts, partners with several industry related societies to provide publicly available resources for the consistent definition and estimation of hydrocarbon resources. This new section forbade epa and the states from requiring npdes permits for uncontaminated stormwater discharges from oil and gas exploration, production, processing or treatment operations, or transmission facilities. Throughtubing workover operations, using coiled tubing, snubbing or slickline equipment, are routinely conducted to complete. Tax regime definitions concession under a concession, an oil and gas company is granted exclusive rights to exploration and production of the concession area and owns all oil and gas production.
Its primary uses are for blending into gasoline, for residential and commercial heating and for industrial uses. Launched in 1998, the oilfield glossary, which includes more than 4600 entries, continues to expand and improve. These are some of the most commonly used oil and gas. Obviously, this list is not anywhere near exhaustive or definitive, but this should be the most comprehensive list anywhere. Corrosion of oil and gaswell equipment cogwe, 1958. Offshore oil and gas industry abbreviations and acronyms. 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 50%. Financial reporting in the oil and gas industry 3 foreword international financial reporting standards ifrs provide the basis for. Glossary of oilfield production terminology got definitions. Means the oil and gas conservation act of the state of colorado. Percentages o 50% fifty percent percent means per hundred.
Louisiana dnr glossary of terms term description abandoned well an oil and gas well which has no reported production, disposal, injection or other permitted activity for an. Definitions of oil and gas reserves approved by the board of directors, society of petroleum engineers spe inc. The oil and gas industry uses many jargons, acronyms and abbreviations. Fee interest a property interest of potentially infinite duration. Definitions of oil and gas reserves approved by the board. This book is by no means a comprehensive description on the detailed design of any part of this process, and many details have been omitted in the interest of. The oil and gas midstream industry consists of companies involved in the transportation or storage of natural gas, crude oil, and refined petroleum products. If we are going to study the oil industry, we must first. Increasing the flow of oil from a well by pumping hydrochloric acid into the well under high. Net production is the companys share of total production after deducting both royalties paid to landowners and a governments agreedupon share of production under a psc. Tools and initiatives for smarter working to improve efficiency across the ukcs. 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. Common oil and gas industry terms explained a financial institution such as bank, brokerdealer, insurance company or business development company. Oil has been used for lighting purposes for many thousands of years.
By injecting gas into this oil, the specific gravity is lowered and the well will start to flow. Glossary of oilfield production terminology got definitions and abbreviations. The petroleum resources management system prms is a system developed for consistent and reliable definition, classification, and estimation of hydrocarbon resources. The oil and gas reserves committee has completed the revision of the petroleum resources management system prms and the spe board approved it in june 2018. List of abbreviations in oil and gas exploration and. To permanently plug a dry hole or well that no longer produces. There are many terms that are synonymous with the oil and gas industry. Interest owner means a person owning an entire or fractional interest of any kind or.
First purchaser means the first person who purchases oil or gas from an interest owner at or after the time the oil or gas is severed. Butane occurs naturally in crude oil and natural gas and is the product of a variety of refinery processes. The process of performing major maintenance or remedial treatments on an oil or gas well. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. If you need assistance with definitions for oil and gas terms, heres a link to schlumbergers oilfield glossary how energy travels. When the oil comes to the surface, the gas expands and comes out of the solution. Blowout a temporary uncontrolled flow of gas, oil, or other well fluids from a well to the atmosphere.
It offers publications regarding recommended industry practices and training materials. Definitive source of information about the uk oil and gas industry. Measurement requirements for oil andgas operations. Broadly defined as gas treatment, lng production and regasification plants, and oil and gas pipeline systems. Its primary uses are for blending into gasoline, for. 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. 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. December, 2018 except where otherwise stated replaces previous edition issued november 21, 2018. Gas leasing terminology a to z this is by no means a complete list of terms used. Glossary 9 often seen in gas contracts and sometimes in oil and gas leases. At least 80 percent of the worlds oil and gas has been found in anticlines. This website uses cookies to improve your experience while you navigate through the website.
Oil reserve definitions nobody knows or can know how much oil exists under the earths surface or how much it will be possible to produce in the future all numbers are, at best, informed estimates. Definitions of oil and gas reserves approved by the. The glossary and definitions is broken down alphabetically, and also by section relevant to industry activity. Any director, officer or general partner of the issuer. Mostly coming from user contributions, it is contextual and is meant for indicative purposes only. Within the broad concept of oil reserves there are several key.
A device that is attached to the shaft of the drawworks and used as a power source for screwing together joints of pipe. In many cases, workover implies the removal and replacement of the production tubing string after the well has been killed and a workover rig has been placed on location. Oil, petroleum, natural gas, hydrocarbons and crude are terms we commonly hear. It is usually located on the drillers side of the drawworks. Shale is frequently a tight type of rock, having small or widely spaced pores that trap oil or natural gas. Oil and gas glossary oilfield glossary oil and gas. An oil refining unit in which propylene or butylene reacts with iso2 glossary of industry terms butylene to yield a high octane gasoline blending component called alkylate. Companies in the industry develop conventional and unconventional oil and gas reserves.
Midstream natural gas activities involve gathering, transport, and processing of natural gas from the wellhead, as well as the removal of impurities, production of natural gas liquids. Solution gas natural gas that is found with crude oil in underground reservoirs. Acreage land leased for oil and gas exploration and production. Typically, gas is injected between the casing and tubing, and a release valve on a gas lift mandrel is inserted into the tubing above the packer.
A common arrangement in drilling ventures is that the promoter is carried to the casing point for 14 of the working interest. Follow our energy travels interactive infographic to learn how oil and natural gas get from under the ground into your hands. Regulations require the plugging of abandoned wells to prevent the seepage of oil, gas. The schlumberger oilfield glossary has received awards of excellence from the business marketing association and the society for technical communication. In practice conventional oil and gas, or the term of conventional resources, applies to oil and gas which can be extracted, after the drilling operations, just by the natural pressure of the wells and pumping or compression operations after the depletion of maturing fields, the natural pressure of the wells may be too low to produce significant quantities of oil and gas. Under concession an oil and gas company typically pays royalties and corporate income tax. Oil and gas stormwater permitting national pollutant. An introduction to the petroleum industry government of. The safety data reporting user guide 2018su will assist companies in compiling and classifying safety data. The open sharing of incident and accident data is essential for learning if we are to eliminate fatalities in the upstream oil and gas industry. Abbreviations and acronyms aofp absolute open flow potential aopl association of oil pipe lines apcd air pollution control district apd application for permit to drill.
We also have a page of oil and gas abbreviations and acronyms. Measurement requirements for oil and gas operations december2018 i. Corrosion of oil and gas well equipment cogwe, 1958. Land leased for oil and gas exploration andor land for which conocophillips owns the mineral rights. The oilfield glossary schlumberger oilfield glossary.