- Industry: Oil & gas
- Number of terms: 8814
- Number of blossaries: 0
- Company Profile:
Permeability that is the same in all directions. This never really occurs, but permeability along various directions of a formation is often close enough for calculation purposes.
Industry:Oil & gas
Payment by a well operator to a host country upon achievement of certain levels of production.
Industry:Oil & gas
Patterns in multiple fractures that intersect with each other. Fractures are formed when rock is stressed or strained, as by the forces associated with plate-tectonic activity. When multiple fractures are propagated, they often form patterns that are referred to as fracture networks. These networks are studied using a number of mathematical and statistical techniques and may even be represented using fractals. Fracture networks may make an important contribution to both the storage (porosity) and the fluid flow rates (permeability or transmissability) of formations.
Industry:Oil & gas
Part of a well test when the well is flowing. It is usually specified prior to tests to ensure that a stable flow situation has been reached, or that the pressure disturbance has reached far enough into the formation to allow determination of a representative value for kh, or that any nearby boundaries could be recognized in a subsequent buildup.
Industry:Oil & gas
Part of rod pumping unit. The counterbalance weight is installed on the end of the walking beam, opposite to the end over the well, and counterbalances the weight of the sucker rods and the fluid being pumped.
Industry:Oil & gas
Parameter used to monitor the efficiency of oil production processes based on steam injection. Commonly abbreviated as SOR, it measures the volume of steam required to produce one unit volume of oil. Typical values of SOR for cyclic steam stimulation are in the range of three to eight, while typical SOR values for steam assisted gravity drainage are in the range of two to five. The lower the SOR, the more efficiently the steam is utilized and the lower the associated fuel costs.
Industry:Oil & gas
Parallel strata that have undergone a similar geologic history, deposited in succession without interruption.
Industry:Oil & gas
Ownership of the right to exploit, mine or produce all minerals lying beneath the surface of a property. In this case, minerals include all hydrocarbons. Mineral interests include:<br> 1. The right to use as much of the surface as is reasonably necessary to access the minerals, <br> 2. The right to execute any conveyances of mineral rights, <br> 3. The right to receive bonus consideration, <br> 4. The right to receive delay rentals and <br> 5. The right to receive royalty. <br>Any or all of the above five rights of mineral ownership may be conveyed by the mineral owner.
Industry:Oil & gas
Ownership in a percentage of production or production revenues, free of the cost of production, created by the lessee, company and/or working interest owner and paid by the lessee, company and/or working interest owner out of revenue from the well.
Industry:Oil & gas
Ownership in a share of production, paid to an owner who does not share in the right to explore or develop a lease, or receive bonus or rental payments. It is free of the cost of production, and is deducted from the royalty interest.
Industry:Oil & gas
