This book should be read on oil, but far more, as a window into another time and place 1904. List of abbreviations in oil and gas exploration and production. Reserves are the estimate of the amount of crude oil and natural gas located in a particular economic region, basin or field and that must. This book is by no means a comprehensive description on the detailed design of any. In the oilfield, many of your duties are performed alone.
Annotated manual of legal engineeringtax words and phrases by howard r. Glossary of oil and gas terms english to spanish flashcards. A chronological history of ownership of a tract of land. This discipline defines terms pertaining to earthits history, structure, composition, life forms and processes that continue to shape and change it. List of abbreviations in oil and gas exploration and. This article needs additional citations for verification. Practical onshore gas field engineering sciencedirect. Bld bailed refers to the practice of removing debris from the hole with a cylindrical container on a wireline. Oil and gas glossary oilfield glossary oil and gas. Looking for more insight into other oil and gas terminology.
Take a look at some of the terms youll encounter working in the industry below. The oilfield glossary schlumberger oilfield glossary. Another name for produced water or brine produced from oil and gas wells. Typically, there would be three investors and, of course, one operator. Please help improve this article by adding citations to reliable sources. 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. In areas where oil is found in shallow reservoirs, seeps of crude oil or gas may naturally develop, and some oil could simply be collected from seepage or tar ponds. It describes the components of a drilling rig with an emphasis on how they work together. Gas leasing terminology a to z this is by no means a complete list of terms used. Discover delightful childrens books with prime book box, a subscription that. We also have a page of oil and gas abbreviations and acronyms.
Our books about petroleum, gas and oil focus on their economical and environmentally safe production. Air hoists are often mounted on the rig floor and may be used to lift joints. This list is meant for indicative purposes only and should not be relied upon for anything but general information. It is usually located on the drillers side of the drawworks.
Cash flow is simply harder to manipulate than book value and pe. The chapter talks about the different constraints and opportunities when drilling onshore, shallow offshore, and deep offshore. A dictionary for the oil and gas industry, 2nd ed petroleum. This helpful reference contains over 12,000 definitions of terms used in petroleum geology, exploration, drilling, production, pipelining, processing, refining. The dubai mercantile exchange offers futures for this crude. Aug 07, 2015 the seven books you must read if you want to understand oil. 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. If youre interested in the history of the texas oil and gas industry, this book is your best bet. Glossary of oil and gas terms learn the language of oil. A well blows out when formation pressure exceeds the pressure being applied to it by the column of drilling fluids and measures are unsuccessful in rectifying this situation. These are some of the most commonly used oil and gas terms. When all the reservoir and hihgpressure zones in a well are sealed with cement so that no fluid can escape. English books for oil and gas professionals english for the oil industry level 1 and english for oil and gas level 2 these books are specially designed by people in the oil and gas industry for english language learners. Oil and gas is ideal for prework students, studying at elementary to preintermediate level, who will need to use english in work situations.
Any director, officer or general partner of the issuer. The offshore drilling business is a technologyheavy industry, and if you want to invest in companies that function in this commodity space, you want to be familiar with some of the associated terminology. A hole drilled in an area where at that moment there is not oil and or gas production, but the oil exploration studies state the probability of finding hydrocarbons there. The objective of this glossary is to provide our clients with a useful reference. Structure used in offshore drilling on which the drilling rig, crew quarters and other related items are located. You will need to have a basic understanding of general english in order to use these books. Liquid, gaseous and solid hydrocarbons, including oil, natural gas, gas condensate, ethane, propane, butane and pentane. Oil and gas title examination basic terms by kraettli q. Here is the lowdown on these fuels and a couple of lesserknown petroleumrelated resources, and what the possible ecological effects and advantages of extracting them are. What you know as oil is actually called petroleum or crude oil and may exist as a combination of liquid, gas, and sticky, tarlike substances. Oil and gas develops the vocabulary, language, and skills that students need to understand the industry, and apply this knowledge to practical situations such as workshop operations, repairs and maintenance, production and distribution, and project. Oil and gas value chain and significant accounting issues the objective of oil and gas operations is to find, extract, refine and sell oil and gas, refined products.
The degree to which gas or fluids can move through a porous material, such as rocks. Personnel new to the oil and gas accounting industry accounting, finance, or economists, others desiring to understand or refresh their knowledge of basic petroleum accounting concepts, financial personnel needing to understand unique issues as they relate to the petroleum industry, and technical or asset team members looking for the basic concepts of accounting and finance. The schlumberger oilfield glossary has received awards of excellence from the business marketing association and the society for technical communication. Terminology covering oil and g as interests for title purposes. How is nav used for oil, gas, and energy investments. Glossary of oilfield production terminology got definitions and abbreviations. Blowout a temporary uncontrolled flow of gas, oil, or other well fluids from a well to the atmosphere. When crude oil is refined or processed, it takes about three barrels of oil to produce two barrels of unleaded gas and one barrel of heating oil. The definitions provide an introduction to each term and may raise complex legal issues on which specific legal advice is required. The terms are also subject to change as applicable laws and customary practice evolve. Our glossary provides a comprehensive guide to the many expressions used. It is not intended to be a definitive or exhaustive reference, nor should it be.
Because offshore drilling activity may take place in unforgiving locations, companies have to deploy specific vessels for specific drilling projects. It contributes significantly to the gross domestic product. Common oil and gas industry terms explained a financial institution such as bank, brokerdealer, insurance company or business development company. To permanently plug a dry hole or well that no longer produces. Oil has been used for lighting purposes for many thousands of years. It offers publications regarding recommended industry practices and training materials. Peter roberts is an experienced lawyer who advises oil and gas companies and governments worldwide. These terms raise complex legal issues on which specific. An area which is underlain by one or more reservoirs containing oil. These free textbooks range from facts about the 2010 bp oil spill to fundamentals of engineering thermodynamics. Handbook of offshore oil and gas operations empowers oil and gas engineers and. Oil region books, oil city, pa reprinted by permission from the author copies available from the oil150 store. 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.
Oil and gas production handbook an introduction to oil. As the voice of the upstream oil and natural gas industry in canada, we provide a comprehensive glossary of industry terms. The iadc lexicon is a glossary of oilfield drilling terms that have been defined in legislation, regulations, standards, andor guidelines. Quizlet flashcards, activities and games help you improve your grades. Abandon to cease efforts to produce oil or gas from a well, and to plug a. The oil and gas industry is the largest sector in the world in terms of dollar value.
Suspended well a well that has been capped off temporarily. Increasing the flow of oil from a well by pumping hydrochloric acid into the well under high. An interactive glossary of oil and gas acronyms, slang, and terminology. He is a leading practitioner and speaker in the industry and has published several highlyregarded textbooks.
Oilfield terminology refers to the jargon used by those working in fields within and related to the upstream segment of the petroleum industry. Jan 06, 2020 5 common trading multiples used in oil and gas valuation these numbers help analysts understand company performance. Oil and gas terminology 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. Quickly become familiar with the oil and gas offshore industry, including deepwater operations. Oil has been used for lighting purposes for many thousand years. Crosscommodity trading is also a new reality from oil, gas, lng, co2 allowances, to coal, basic and precious metals and uranium requiring familiarity with trading terminology among a wider range of professionals. Oil and gas well drilling and servicing etool glossary. Updated to add extra terms to the list if youve looked at any oil and gas reference books or even glance online.
In addition, this book provides a goto glossary for quick reference. Ado automotive diesel oil refinery product which is the result of diesel and gas oil blending. Historically, we know of tales of eternal fires where oil and gas seeps would ignite and burn. Book description handbook of offshore oil and gas operations is an authoritative source providing extensive uptodate coverage of the technology used in the exploration, drilling, production, and operations in an offshore setting. The book has been completely updated to reflect the current issues facing oil and gas producers operating in both u. Casing definition p ipe cemented in the well to seal off formation fluids and to keep the hole from caving in. Terms used in the oil industry institutional data base diagram index the oil industry in mexico seismic exploration crude oil and natural gas production basic products of crude oil. We are constantly using and adapting words to fit our everchanging culture. Solution gas natural gas that is found with crude oil in underground reservoirs. A device that is attached to the shaft of the drawworks and used as a power source for screwing together joints of pipe. 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. In order to maintain the best personal safety you can while on duty, you should always keep. Definitions for industryrecognized terms used in portions of this book have been taken from the dictionary of petroleum terms, published by the bureau of economic geology, university of texas at austin. Offshore oil and gas activity is growing at an expansive rate and this musthave training guide covers the full.
At the end of the day, the third for a quarter deal served a purpose in promoting oil and gas investments and allowed many operators and investors alike to become wealthy on energy independence. Oil and gas well drilling and servicing etool glossary of. Absorption hydrocarbon liquid or gas refining process to remove impurities by dissolving the impurities into an absorbent usually liquid so that the impurities are absorbed in the absorbent. Meyers and a great selection of related books, art and collectibles available now at. The gas is taken from the well through the casinghead at the top of the well. 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 50%. Launched in 1998, the oilfield glossary, which includes more than 4600 entries, continues to expand and improve. Financial reporting in the oil and gas industry international financial reporting standards 3rd edition 19 july 2017. The glossary and definitions is broken down alphabetically, and also by section relevant to industry activity. The schlumberger oilfield glossary is an evergreen, instant reference that takes. Oil and gas 1 is ideal for prework students, studying at elementary level, who will need to use english in work situations. Oil and gas 1 develops the vocabulary, language, and skills that students need to understand the industry, and apply this knowledge to practical situations such as workshop operations and repairs and maintenance. When the oil comes to the surface, the gas expands and comes out of the solution. The seven books you must read if you want to understand oil.
The uk based partnership with the remit to make the uk the safest oil and gas exploration and production province in the world. Historically, we know the tales of eternal fires where oil and gas seeps ignited and burned. A dictionary for the oil and gas industry petroleum extension service petex on. Aug 14, 2018 the deal was essentially one in which oil and gas investors would finance an entire oil and gas well and the operator would receive a 25% cut for putting the deal together. Handbook of offshore oil and gas operations 1st edition elsevier. The oil and gas industry uses many acronyms and abbreviations. Sold by world prime and ships from amazon fulfillment. 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. Shale is frequently a tight type of rock, having small or widely spaced pores that trap oil or natural gas. Jun 25, 2019 find out how net asset value, or nav, can be useful for evaluating mutual funds with oil, gas and energy investments or valuing specific firms in those sectors. This helps to put into perspective the production needs of crude, and why production and supply levels are watched so closely. Dobie langenkamp offers a fresh set of terms and phrases introduced to the. Handbook of offshore oil and gas operations empowers oil and gas engineers and managers to understand and capture on one of the fastest growing markets in the energy sector today. 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.
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