Oil & Gas Industry Glossary of Selected Terms

David WoodPage1 Oil & Gas Industry Glossary of Selected TermsTo Accompany aRange of Training CoursesOffered to Industry ProfessionalsCompiled by:DWA Energy Limited( )Acidising:the well stimulation technique of pumping hydrochloric acid down thewell hole to enlarge the pore space in oil-bearing rocks, thus increasing oil flow log:a record of the time taken by a sound (acoustic) wave to travel over acertain distance through geological formations;also called a seismic Annual contract quantity:the amount of gas delivery specified for eachcontract year in a gas supply :an area covered by a lease granted for oil and gas :physical cash commodities, as opposed to futures :a chemical added to a product to improve its :Authority for gun:chamber from which compressed air is released to produce shock air gun is the most common technique used for seismicsurveys at :depreciation, depletion or periodic charge to expense asset costs(usually capital costs) over a period of time (usually years) subject to : Fundamental basic supply and demand studies, perf

Barrel (abbreviated as bbl): a volumetric measurement equal to 42 US gallons or 159 litres. The standard unit of measurement for crude oil and some petroleum products. Barrels per day (abbreviated as bpd, b/d, and bopd for oil): in production terms, the number of barrels of oil produced from a well over a 24-hour period; in refining

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