An exploration well that is drilled to an unproven reservoir from which no oil or gas has been produced in the nearby area. A "rank" wildcat is drilled in an area distant from previous drilling: Working interest: The right granted to the lessee of a property to explore for, produce and own oil, gas or other minerals. 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. We also have a page of Oil and Gas Abbreviations and Acronyms.These are some of the most commonly used oil and gas terms. If you would like to discuss mineral rights related issues with other landowners Crude oil refers to hydrocarbon mixtures produced from underground reservoirs that are liquid at normal atmospheric pressure and temperature. Natural gas refers to hydrocarbon mixtures that are gaseous, at normal atmospheric pressure and temperature – the gas mixtures consist largely of methane – the smallest natural hydrocarbon molecule (CH 4). Oil & Gas Accounting 101 – Terminology . To be able to work effectively in Oil & Gas Accounting, you need to understand some of the terminology for the oil & gas industry. Here are some of the terms you’ll encounter… Authorization for Expenditure (AFE) – A document shown to investors in a well that will estimate drilling and completion Commodities For Dummies, 2nd Edition. By Amine Bouchentouf . Offshore oil platform: Companies usually lease these vessels to customers, which may include independent oil and gas companies, national oil companies, and the major integrated oil companies, for a premium. Upstream Oil and gas glossary esandaengineering.com. 2 esandaegineering.com Delivering integrated upstream oil and gas industry training. 1 Contents Introduction Glossary Petroleum Chemistry A Brief Oil and Gas History Some Useful Conversions SPE Petroleum Reserves Categorisation An oil company is interested in leasing your minerals because they have reason to believe that they can find oil or gas there. Consider this article as your Oil and Gas 101 course, primarily written for the mineral rights owner. Learning oil and gas basics will help you maximize the value of your mineral rights.
Commodities For Dummies, 2nd Edition. By Amine Bouchentouf . Offshore oil platform: Companies usually lease these vessels to customers, which may include independent oil and gas companies, national oil companies, and the major integrated oil companies, for a premium. Upstream Oil and gas glossary esandaengineering.com. 2 esandaegineering.com Delivering integrated upstream oil and gas industry training. 1 Contents Introduction Glossary Petroleum Chemistry A Brief Oil and Gas History Some Useful Conversions SPE Petroleum Reserves Categorisation An oil company is interested in leasing your minerals because they have reason to believe that they can find oil or gas there. Consider this article as your Oil and Gas 101 course, primarily written for the mineral rights owner. Learning oil and gas basics will help you maximize the value of your mineral rights. Recently I have been fortunate to be in a position to learn a lot about the basics of the oil and gas industry. From the economics to the science and technology, this is a complex marketplace.
Terms Used in the Oil and Gas Industry A-C D-F G-I J-K M-O P-R S-U V-Z A-C Bcf: one billion cubic feet of natural gas Bcfe: one billion cubic feet of natural gas equivalent Boe: barrel of oil (one barrel of oil equals 6,000 cubic feet of natural gas) BTU – British Thermal Unit.The amount of energy required to raise the temperature of one pound of water by one Fahrenheit degree. Oil & Gas for dummies When I started my career, I remember that renewable energy was “the thing”. Every single investor had his hands on some kind of solar or wind project, large conglomerates were dedicating whole subsidiaries to the concept, and the Government subsidies on clean sources knew no limit. Upstream Oil and gas glossary esandaengineering.com. 2 esandaegineering.com Delivering integrated upstream oil and gas industry training. 1 Contents Introduction Glossary Petroleum Chemistry A Brief Oil and Gas History Some Useful Conversions SPE Petroleum Reserves Categorisation The following are abbreviations and definitions of terms commonly used in the oil and gas industry and this website. Bbl One barrel of crude oil or NGL or 42 gallons of liquid volume. Bcf A well drilled to find a new field or to find a new reservoir in a field previously found to be productive of oil or gas in another reservoir. Amazon.com: oil and gas for dummies. Skip to main content. Try Prime Hello, Sign in Account & Lists Sign in Account & Lists Orders Try Prime Cart. All
OIL, GAS & MINERAL LEASE : The agreement outlining the basic terms of developing lands or minerals such as royalty to be paid, length of time, and description of land. OIL & GAS LEASE : Same as an oil, gas and mineral lease. NON-OPERATING INTEREST : A working interest owner in a well, but not the operator. OPERATING AGREEMENT Terms Used in the Oil and Gas Industry A-C D-F G-I J-K M-O P-R S-U V-Z A-C Bcf: one billion cubic feet of natural gas Bcfe: one billion cubic feet of natural gas equivalent Boe: barrel of oil (one barrel of oil equals 6,000 cubic feet of natural gas) BTU – British Thermal Unit.The amount of energy required to raise the temperature of one pound of water by one Fahrenheit degree. Oil & Gas for dummies When I started my career, I remember that renewable energy was “the thing”. Every single investor had his hands on some kind of solar or wind project, large conglomerates were dedicating whole subsidiaries to the concept, and the Government subsidies on clean sources knew no limit. Upstream Oil and gas glossary esandaengineering.com. 2 esandaegineering.com Delivering integrated upstream oil and gas industry training. 1 Contents Introduction Glossary Petroleum Chemistry A Brief Oil and Gas History Some Useful Conversions SPE Petroleum Reserves Categorisation The following are abbreviations and definitions of terms commonly used in the oil and gas industry and this website. Bbl One barrel of crude oil or NGL or 42 gallons of liquid volume. Bcf A well drilled to find a new field or to find a new reservoir in a field previously found to be productive of oil or gas in another reservoir. Amazon.com: oil and gas for dummies. Skip to main content. Try Prime Hello, Sign in Account & Lists Sign in Account & Lists Orders Try Prime Cart. All An oil company is interested in leasing your minerals because they have reason to believe that they can find oil or gas there. Consider this article as your Oil and Gas 101 course, primarily written for the mineral rights owner. Learning oil and gas basics will help you maximize the value of your mineral rights.
That's why we put together the Natural Gas Glossary to help you find the words you need to understand the industry. Browse a comprehensive alphabetized list Oil window. Derrickman. Christmas tree?! Learn English for oil and gas easily with this guide to the best study tools and essential vocabulary. Glossary. Bcf, Billion Cubic Feet (of gas). Boe, Barrels of Oil Equivalent. The barrel of oil equivalent The rise and fall in gasoline and diesel prices directly relates to the cost of crude oil and the global demand for crude on the worldwide market. The information provided below explains the basics, including what shale gas is, Shale Gas Glossary; Links for More Information; Download Entire Document I am considering a mineral rights/oil and gas rights transaction and/or have