Oil and gas industry glossary of terms juxintt

Oil and gas industry glossary of terms

24.03.2021

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Bitumen - petroleum in semi-solid or solid forms. Requires unconventional production methods such as mining or steam assisted gravity drainage. Business unit - 1 Jun 2018 Lease – In the oil and gas industry, leases are provided by government or private owners of mineral rights (land ownership may or may not of Terms, OPEC, Oxford English Dictionary, Schlumberger's Oilfield Glossary, The Street, The United Nations. I need to know An Introduction to the Oil Industry The Platts industry glossary covers common terms and abbreviations from the oil, power, petrochemicals, nuclear, gas, coal and metals markets and industries.

The calculated supply is the sum of crude oil production plus imports minus changes in crude oil stocks. The calculated disposition of crude oil is the sum of crude oil input to refineries, crude oil exports, crude oil burned as fuel, and crude oil losses.

When referring to the oil and gas industry, this term indicates the refining and marketing sectors of the industry. More generically, the term can be used to refer to any step further along in the process from “upstream”crude oil and natural gas production. Oilfield Glossary | Oil and Gas Glossary. Oil & Gas Terms of The Day. Advertisement. Makeup cathead . A device that is attached to the shaft of the drawworks and used as a power source for screwing together joints of pipe. It is usually located on the driller’s side of the drawworks. Also called spinning cathead.

Business Finance Solutions has helped numerous companies in the oil and gas industry with production financing, working capital, mergers and acquisitions over

Discover commonly used terminology and acronyms use din the oil and gas industry. Do you know what at Derrick is? or a Big Bear? - See links to other useful AUTHORIZATION FOR EXPENDITURE (AFE) A document used to estimate the cost of drilling a well or installing major equipment facilities in an oil field. The AFE

A petroleum industry association that sets standards for oil field equipment and operations. Artificial lift: Any method used to raise oil to the surface after a well

Glossary of Oil and Gas Terms by Hutsakarn An oil and/or gas field judged to be capable of producing enough net income to make it worth developing. The following is a list of commonly used terms in the oil and gas industry. Click on the term to view the meaning. bbl. Barrel, 42 U.S. gallons of liquid volume, 26 Feb 2019 As veterans in the oil and gas industry, we know that learning the terminology is vital to navigating lease acquisitions and interpreting title AFP, Annular Friction Pressure, AIS, Automatic Identification System, API, American Petroleum Institute. APV, Air Pressure Vessel, AX/VX, Ring gasket, BCP

OIL & NATURAL GAS TERMINOLOGY. There are many terms that are synonymous with the oil and gas industry. ABANDON: To discontinue attempts to produce

The oil and gas industry has many unique terms and abbreviations. These terms are frequently found in proposals, leases, contracts, and other oil and gas business transaction documents. It is important to understand these terms to understand the legal implications of contracts and other business transactions.