Oil and Gas work|Oil|Gas

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
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 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".
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".
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
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
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
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.
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.
Fahrenheit.
Fuel oils	:Oil that is heavy-distilled in the refining process. Frequently used for supplying energy to power stations and factories.
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.
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.
in an attempt to recover proved undeveloped reserves.
Infill Drilling	:Drilling for the development and production of proved undeveloped reserves that lie within an area bounded by producing wells.
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.
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.
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.
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.
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 un drilled acreage or from existing wells where a relatively major expenditure is required for re completion.
Re completion	:The completion for production of an existing well bore 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.
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 the density 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.
Terminal	:Plant and equipment designed to receive and process crude oil or gas to remove water and impurities.
Throughput	:The total amount of raw materials processed by a refinery or other plant in a given period.
Topping	:The primary distillation phase of a refinery process, and by derivation, the type of refinery and its yield of products
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.
Viscosity	:The resistance to flow
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.

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