From military aggression to cyber threats, the oil and gas sector is a highprofile target for adversaries intent on. It covers all aspects of valuation methods, transaction models, asset projections, shareholder analysis, valuation, and risk assessments within the oil and gas industry. It offers publications regarding recommended industry practices and training materials. List of abbreviations in oil and gas exploration and production. In addition, it contains a highlevel overview of the accounting for business acquisitions that 1 highlights certain nuances that distinguish a business from an asset, 2 discusses the steps in accounting for a business. Nov 28, 2016 oil and gas mergers and acquisitions are finally making a comeback. Liquid, gaseous and solid hydrocarbons, including oil, natural gas, gas condensate, ethane, propane, butane and pentane. Increasing the flow of oil from a well by pumping hydrochloric acid into the well under high.
Shale gas glossary acquifer a single underground geological formation, or group of formations, containing water. Financial terms abbreviations used institutional data base. Merger the joining of two or more shipowning companies. Glossary of oilfield production terminology got definitions and abbreviations. Oil gas terms in category a oilfield glossary oil and gas. Derivatives and risk management in the petroleum, natural. Oil and gas well drilling and servicing etool glossary of. Reviewing industry developments since the 1980s, this report finds, among other things, that concentration in crude oil at the country or company level has remained relatively low and that mergers among private oil companies have not significantly affected crude oil concentration. Additionally, this glossary may be a valuable resource for educating key stakeholders within the oil and gas, utilities and mining industries, including employees, customers, shareholders and. The energy, utilities and mining practice of pricewaterhousecoopers has compiled this glossary of oil and gas, utilities and mining commodity trading and risk management terms. Gas toliquids gtl the conversion of natural gas to a liquid form so that it can be transported easily. Glossary of terms used in the trading of oil and gas, utilities. Launched in 1998, the oilfield glossary, which includes more than 4600 entries, continues to expand and improve. List of abbreviations in oil and gas exploration and.
Oil and gas glossary oilfield glossary oil and gas. Glossary of oil and gas terms acreagecontribution agreement a support agreement by which the contributing party agrees to contribute leases or interests in leases in the area of a test well to a drilling party in exchange for information, if the drilling party drills to an agreed depth and develops the information. Searched for d in all fields 4914 results found variables and numbers. Terms used in the oil industry institutional data base diagram index the oil industry in mexico seismic exploration crude oil and natural gas production. Oil and gas well drilling and servicing etool glossary. Suncor extends expiration date after unsuccessful initial attempt. Srsmg200201 derivatives and risk management in the petroleum, natural gas, and electricity industries october 2002 energy information administration. A chronological history of ownership of a tract of land. 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 dictionary is a must in the library of every young engineer. Artificial lift sucker rodpumps nodding donkeys, gas lift, hydraulic pumps, and submersible electric pumps, used to aid the production of oil as reservoir pressure declines asphalt solid petroleum residue, similar to bitumen, tar and pitch associated gas natural gas which is dissolved in crude oil in the reservoir bar unit of pressure. The energy sector has been battered for nearly a year, but amid the wreckage royal dutch shell is buying bg group in the biggest oil gas deal since exxon bought mobil and easily the largest.
The determinants of mergers and acquisitions in the oil. When oil and gas migrate into porous formations, the quantity collected is called an accumulation. A marketing company that buys and resells gas and is owned. Glossary of oilfield production terminology got definitions. Dictionary of oil, gas, and petrochemical processing. Giip gas initially in place gis geographic information system gl gas lift gl ground level gle ground level elevation generally in metres above mean sea level glm gas lift mandrel alternative name for side pocket mandrel glr gas liquid ratio glt glt log glv gas lift valve glw goc gas oil contact. Gas has been produced from this formation for several decades. If your inquiry relates to a legal matter and you are not already a current client of the firm, please do not transmit any confidential information to us. The glossary and definitions is broken down alphabetically, and also by section relevant to industry activity. This report updates two earlier ftc studies on mergers and structural change in the u. Updated to add extra terms to the list if youve looked at any oil and gas reference books or even glance online. Pdc energy a core wattenberg field and delaware basin.
Antrim shale a shale deposit located in the northern michigan basin that is a devonian age rock formation lying at a relatively shallow depth of 1,000 feet. Oil and gas industry course objectives this training course combines the key theoretical principles of mergers and acquisitions with their practical application to the upstream oil and gas industry environment. The unconventional oil and gas, such as oil sand, shale oil and shale gas, is bringing a revolution to the entire industry. Under production, the number of hydrocarbon barrels produced in a 24hour. Oil and gas companies face a variety of industrywide challenges in attempting to stay fully apprised of unclaimed property developments and best practices. It has been accepted for inclusion in this collection by an authorized administrator. 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. The objective of this glossary is to provide our clients with a useful reference guide to the language of commodity trading and risk management. Breaking down the most important part of todays oil.
It is usually located on the drillers side of the drawworks. The schlumberger oilfield glossary has received awards of excellence from the business marketing association and the society for technical communication. The acquisition of part or all of an oil, natural gas or mineral interest from a third party. Terms and expressions in shipping and offshore general shipping terms types of ships vessel sizes.
A finegrained sedimentary rock formed by consolidation of clay and siltsized particles into thin, relatively. See the definition of oil and gas terms used by professionals in the energy sector. Nogo definition oilfield glossary oil and gas glossary. Even texas constitution is written to heavily favor economic development. Common oil and gas industry terms explained a financial institution such as bank, brokerdealer, insurance company or business development company. 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. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Analysis of acquirer stock performance in mergers and acquisitions in albertas oil and gas industry harrison a. To recover liquid hydrocarbons from natural or refinery gas in a gas absorption plant. Cos gets its wish to remain an independent company at least for the time being. When all the reservoir and hihgpressure zones in a well are sealed with cement so that no fluid can escape. Consolidation a process of solidification of an ice mass by freezing water in voids between ice.
Thats why we put together the natural gas glossary to help you find the words you need to understand the industry. Corrosion of oil and gas well equipment cogwe, 1958. The oil and gas industry uses many acronyms and abbreviations. Energy information administration natural gas annual 201 glossary aquifer storage field.
Regulation ec no 92004 merger procedure article 61b nonopposition date. Gas field a field containing natural gas but no oil. Total gas oil ratio gor uncorrected for gas lift gas present in the production fluid th. For refined oil products, a backhaul is simply the delivery of one product by tank truck, barge, or rail and the use of the vessel to transport back back haul. The oil and gas industry has many unique terms and abbreviations. The schlumberger oilfield glossary is an evergreen, instant reference that takes. 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. A device that is attached to the shaft of the drawworks and used as a power source for screwing together joints of pipe. Hussameldin ibrahim, university of regina, saskatchewan, canada with the dictionary of oil, gas, and petrochemical processing, the authors provide a great service to the industry and, in particular, to those entering the field. 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. Glossary of terms used in the trading of oil and gas, utilities and mining. The objective of this glossary is to provide our clients with a useful reference.
Iom installation, operation and maintenance manual. Mergers and acquisitions in the oil and gas industry. We know there are a terms related to the natural gas industry. Corrosion of oil and gaswell equipment cogwe, 1958. Any director, officer or general partner of the issuer. The definitions used in this abbreviated glossary are taken from a comprehensive dictionary for. Browse a comprehensive alphabetized list of natural gas terminology. Associated gas natural gas produced with crude oil from the same reservoir. Glossary of oil and gas terms used in the industry. Whether these deals involve a few million dollars and a dozen employees or billions of dollars and hundreds of employees across multiple countries, they can determine a companys fate.
Nov 01, 2016 general electric plans to merge its oil and gas division with baker hughes. These terms are frequently found in proposals, leases, contracts, and other oil and gas business transaction documents. This pithy assessment underscores the modern worlds dependence on oil and illustrates why the industrys security is critical to the security of every nation. Firms from various regions have a chance to integrate resources by conducting mergers and acquisitions.
There are several unique characteristics in this industry. Do not continue to use noil petroleum corporations website if you do not accept all of the terms and conditions stated on this page. Gas injection the process whereby separated associated gas is pumped back into a reservoir for conservation purposes or to maintain the reservoir pressure. To permanently plug a dry hole or well that no longer produces.
Energy information administration natural gas monthly 127 glossary aquifer storage field. Gas leasing terminology a to z this is by no means a complete list of terms used. Chevron denmark is an oil and gas company owned by the chevron group. Natural gas produced with crude oil from the same reservoir. 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. To discontinue attempts to produce oil or gas from a well or lease and to plug the reservoir in accordance with regulatory requirements and recover equipment. By accessing this website we assume you accept these terms and conditions in full. Oil and gas glossary of terms business finance solutions.
In addition, it contains a highlevel overview of the accounting for business acquisitions that 1 highlights certain nuances that distinguish a business from an asset, 2 discusses the steps in accounting for a business acquisition, and 3 emphasizes. Oil and gas production handbook an introduction to oil. Some oil and gas companies and their lenders use the price of nymex crude oil and natural gas futures as a proxy for the markets expectation of the spot price of crude oil and natural gas, respectively. This term is frequently used to compare natural gas in units of crude oil volume in order to provide a common measure for different gas energy qualities. The wet gas enters the absorber at the bottom and rises to the top, encountering a stream of absorption oil a light oil traveling downward over bubblecap trays, valve trays, or sieve trays. The oilfield glossary schlumberger oilfield glossary. A unit of volume measurement used for petroleum and. Valuation of oil and gas entities beyond the reserve report february 19, 2015. General electric plans to merge its oil and gas division with.
Analysis of acquirer stock performance in mergers and. B barrel, commonly abbreviated to bbl a unit of volume measurement used for petroleum and its products around 7. One recent merger tracked cultural integration in key customerfacing areas with the help. The degree to which gas or fluids can move through a porous material, such as rocks. Gas leasing terminology a to z this is by no means a complete list of terms. The uk based partnership with the remit to make the uk the safest oil and gas exploration and production province in the world. Take a look at some of the terms youll encounter working in the industry below. Jump to navigation jump to search the oil and gas industry uses many.
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