Oil and Gas work|Oil|Gas

mm	millions
mbbls/d	thousands of barrels per day
bbl	barrel
mmbbls	million barrels
mmstb	millions of stock tank barrels of oil
bopd	barrels of oil per day
boe	barrels of oil equivalent (1 boe = 10mcf)
boe/d	barrels of oil equivalent per day
mmboe	million barrels of oil equivalent
mcf	thousand cubic feet
mcf/d	thousand cubic feet per day
mmcf	million cubic feet
mmcf/d	million cubic feet per day
bcf	billion cubic feet
bcpd	barrels of condensate per day
liquids	natural gas liquids
NGLs	natural gas liquids
MW	mega watt
3D	three-dimensional seismic survey
WI	working interest
kms	kilometres
NAV	net asset value
NPVAIT	net present value after income taxes
*Abandonment*	Converting a drilled well to a condition that can be left indefinitely without further attention and without damaging fresh water supplies or potential petroleum reservoirs
*Bitumen*	Petroleum in semi-solid or solid forms
*Centrifugal pump*	A rotating pump, commonly used for large-volume oil and natural gas pipelines, that takes in fluids near the centre and accelerates them as they move to the outlet on the outer rim.
*Conventional crude oil*	Petroleum found in liquid form, flowing naturally or capable of being pumped without further processing or dilution
*Cumulative production*	Production of oil or gas to date
*Density*	The gravity of crude oil, indicating the proportion of large, carbon-rich molecules, generally measured in kilograms per cubic metre or degrees on the American Petroleum Institute (API) gravity scale
*Discovery well*	An exploratory well that encounters a previously untapped oil or gas deposit
*Downstream sector*	The oil and natural gas industry has two main components, the upstream producing sector and the downstream refining and marketing sector. The downstream refining and marketing sector consists of pipeline systems, refineries, gas distribution utilities, oil product wholesalers, service stations and petrochemical companies.
*Established reserves*	That portion of the discovered resource base that is estimated to be recoverable using known technology under present and anticipated economic conditions. Includes proved plus a portion of probable (usually 50%)
*Exploratory well*	A well into an area where petroleum has not been previously found or one targeted for formations above or below known reservoirs
*Field*	The surface area above one or more underground petroleum pools sharing the same or related infrastructure
*Flow line*	Pipe, through which oil or gas travels from the well to a processing facility
*Heavy crude oil*	Oil with a gravity below 28 degrees API
*Initial established*	Established reserves before production
*Injection well*	A well used for injecting fluids (air, steam, water, natural gas, gas liquids, surfactants, alkalines, polymers, etc.) into an underground formation for the purpose of increasing recovery efficiency
*Light crude oil*	Liquid petroleum with a gravity of 28 degrees API or higher
*Limestone and dolomite*	Calcium carbonate-rich sedimentary rocks in which oil or gas reservoirs are often found
*Methane*	The principal constituent of natural gas; the simplest hydrocarbon molecule, containing one carbon atom and four hydrogen atoms
*Middle distillates*	Medium-density refined petroleum products, including kerosene, stove oil, jet fuel and light fuel oil
*Mud*	Fluid circulated down the drill pipe and up the annulus during drilling to remove cuttings, cool and lubricate the bit, and maintain desired pressure in the well
*Natural gas liquids*	Liquids obtained during natural gas production, including ethane, propane, butanes, and condensate
*Operator*	The company or individual responsible for managing an exploration, development or production operation
*Permeability*	The capacity of a reservoir rock to transmit fluids
*Petroleum*	A naturally occurring mixture of hydrocarbons in gaseous, liquid or solid form
*Pinnacle reef*	A conical formation, usually composed of limestone, in which hydrocarbons might be trapped
*Pool*	A natural underground reservoir containing, or appearing to contain, an accumulation of petroleum
*Porosity*	The open or void space within rock
*Reformulated fuels*	Gasoline, diesel or other fuels which have been modified to reflect environmental concerns, performance standards, government regulations, customer preferences or new technologies
*Royalty*	the “owner's share” of production or revenues retained by government or freehold mineral rights holders
*Sandstone*	compacted sedimentary rock composed mainly of quartz or feldspar; a common rock in which oil and/or water accumulate
*Sedimentary basin*	A geographical area, in which much of the rock is sedimentary (as opposed to igneous or metamorphic) and therefore likely to contain hydrocarbons
*Shale*	Rock formed from clay
*Sweet oil and gas*	Petroleum containing little or no hydrogen sulphide
*Ultimate potential*	An estimate of recoverable reserves that will have been produced by the time all exploration and development activity is completed; includes production-to-date, remaining reserves, development of existing pools and new discoveries
*Unitization*	Process whereby owners of adjoining properties pool reserves form a single unit operated by one of the owners; production is divided among the owners according to the unitization agreement
*Upstream sector*	The oil and natural gas industry has two main components, the upstream producing sector and the downstream refining and marketing sector. The upstream sector includes production companies as well as hundreds of associated businesses such as seismic and drilling contractors, service rig operators, engineering firms and various scientific, technical, service and supply companies.
*Viscosity*	The resistance to flow, or “stickiness” or a fluid
Wildcat	A well drilled in an area where no oil or gas production exists

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