Certain terms, to the extent used herein, have special
meanings, which are set forth below. Other terms, which
are of general use in the oil and gas industry, are
also defined below for your reference. The context of
the use of a term may vary its meaning. Additionally,
terminology and its common meaning may change over time.
The Company disclaims any and all liability associated
with any of the defined terms contained herein.
API – American
Petroleum Institute, also standard of measurement
of gravity of oil (in degrees).
BBL – barrel
and typically refers to a barrel of oil.
BCF – billion
cubic feet and typically refers to cubic feet of natural
gas.
BCFE – billion
cubic feet of natural gas equivalent.
BCPD – Barrels
of Condensate Per Day (natural gas liquids or lightweight
oil).
BHFP – Bottom
Hole Flowing Pressure: The calculated pressure of
the well across the perforation when the well is flowing
(indicative of formation draw down pressure across
the interval and permeability).
BHSIP – Bottom
Hole Shut In Pressure: The calculated pressure of
the well across the perforations when shut in.
BHT – Bottom
Hole Temperature (in degrees).
BOE – barrel
of oil equivalent.
BOP – Blow Out
Preventers
Btu or British Thermal Unit
– the quantity of heat required to raise the
temperature of one pound of water by one degree Fahrenheit.
CBL – Cement
Bond Log
CCL – Casing
Collar Locator
CK – Choke. Indicates
choke size in diameter, usually in 64ths.
COMP – Completion
Info.
Depletion – an
emptying, exhausting or wasting of assets. In the
case of oil and gas operations depletion refers to
the removal of oil and gas from a reserve. In the
case of taxation depletion refers to a deduction that
may be allowed to recover the cost of acquiring a
depleting asset.
DISL – Dual Induction
Sonic Log
EL – Elevation,
either subsurface or Kelly Board.
Fracture Stimulation
– the process of pumping fluids into a productive
formation at high rates of injection to hydraulically
break the rock. The "fractures" which are
created in the rock act as flow channels for the oil
and gas to the well.
FSW – Field Salt
Water
FTP – Flowing
Tubing Pressure: The measured surface pressure of
the flowing well upstream of the choke. Indicative
of formation draw down and permeability).
Gas kick – an
entry of gas into the wellbore during drilling. It
occurs because the pressure exerted by the column
of drilling fluid is not great enough to overcome
the pressure exerted by the fluids in the formation
drilled. If prompt action is not taken to control
the kick, or kill the well, a blowout may occur.
GLR – Gas to
Liquid Ratio: The ratio of gas per MCF compared to
the volume of liquids (condensate/oil) produced.
GR – Gamma Ray
GTY – Gravity
of oil in degrees. Higher degree is lighter oil.
IDC – Intangible
Drilling and Development Costs
Intangible Drilling and Development Costs –
expenditures incurred by an operator that have no
salvage value and are incident to and necessary for
the drilling of wells and the preparation of wells
for the production of oil and gas and geothermal energy.
IP – Initial
Production test.
ISL – Induction
Sonic Log “L/D” – Lay Down
MBBLs – thousand
barrels and typically refers to barrels of oil.
MCF – thousand
cubic feet and typically refers to cubic feet of natural
gas.
MCFE – thousand
cubic feet of natural gas equivalent.
MCFGPD – Thousand
Cubic Feet of Gas Per Day (M= 1,000).
Mineral interest –
the ownership of all rights to gas, oil or other minerals
as they naturally occur.
Mineral Lease –
an agreement permitting use of land to explore, and
then, if minerals are discovered, giving the right
to take minerals either for a definite term or so
long as it can be produced in paying quantities.
MIRU – Move In
Rig Up
MMBBLs – million
barrels and typically refers to barrels of oil.
MMBOE – million
barrels of oil equivalent.
MMBtu – million
british thermal Units.
MMC – million
cubic feet and typically refers to cubic feet of natural
gas.
NGE – Natural
gas equivalents and crude oil equivalents are determined
using the ratio of six MCF of natural gas to one BBL
of crude oil, condensate or natural gas liquids. All
estimates of reserves, unless otherwise noted, are
reported on a "net" basis. Information regarding
production, acreage and numbers of wells is set forth
on a gross basis, unless otherwise noted.
MOB – Mobilize
(usually same as MIRU)
Mud logging – the recording of information derived
from examination and analysis of formation cuttings
made by the bit and of mud circulated out of the hole.
A portion of the mud is diverted through a gas-detecting
device. Cuttings brought up by the mud are examined
under ultraviolet light to detect the presence of
oil or gas. Mud logging is often carried out in a
portable laboratory set up at the well site.
NASD – the National
Association of Securities Dealers
N/D – Nipple
Down (disconnect or remove)
N/U – Nipple
Up (connect or install)
NT – Neutron
P&A – Plugged
and Abandoned. The well is removed.
PB – Plug back.
The well is plugged back to another interval.
PBTD – the depth
of the well after being plugged back (usually the
location of a bridge plug).
POOH – Pull Out
Of Hole
RDMO – Rig Down
Move Out (also DE-MOB)
RIH – Run In
Hole
S/N – Seat Nipple
– smaller ID tool run in tubing usually for
future use, slick line work, etc
SDFN – Shut Down
For Night
SDWL – Sidewall
Cores
SICP – Shut In
Casing Pressure. The measured surface pressure
of the well on the casing side (annulus of tubing
or tubing less completion.
SITP – Shut In
Tubing Pressure. The measured surface pressure of
the well shut in (production tubing).
SWIFN – Shut
Well In For Night.
TA – Temporarily
Abandoned.
TD – Total Depth.
TDC – Tangible
Drilling and Development Costs
TMD/MD – Total
Measure Depth, Measure Depth.
TOPS – the top
of the formation or formation marker.
TVD – True Vertical
Depth.
WLM – Wire line
Measurement.
Feel free to if you are interested in learning more
about Stanotex, oil and gas investments and to discover
if investing in oil and gas is right for you.
