Enhanced oil recovery (EOR) is the extraction of oil from an oil reservoir that has been previously depleted by primary or secondary recovery methods. EOR methods include thermal methods (such as steam injection or hot water injection), chemical methods (such as surfactant flooding or polymer flooding), and gas injection (such as CO2 injection or natural … Read more
Working interest is the interest that a party has in an oil or gas lease that gives them the right to explore, develop, and produce the minerals on the property. The working interest owner is responsible for the costs associated with the operation of the lease, and they receive a proportionate share of any production … Read more
Topside refers to the portion of an oil rig or platform that is above the waterline. This includes the living quarters, the drilling and production equipment, and any other infrastructure necessary to support the operation of the platform. What is the top of a drilling rig called? The top of a drilling rig is called … Read more
Crude oil is unrefined petroleum that straight from the ground. It contains a mixture of hydrocarbons, which are molecules made up of both hydrogen and carbon atoms. The hydrocarbons in crude oil can be divided into three categories: Saturates: These are hydrocarbons that have no double bonds between the carbon atoms. They are also known … Read more
An integrated oil and gas company, also known as an oil major, is a large corporation that is involved in all aspects of the oil and gas industry, from exploration and production to refining and marketing. The term “integrated” refers to the fact that these companies are vertically integrated, meaning they are involved in every … Read more
The Netback Summary of Associated Costs is a report that provides a summary of the costs associated with producing oil and gas. It includes information on the costs of drilling, completion, and production. It also includes information on the costs of transportation, processing, and storage. How is crude oil calculated? Oil is a complex mixture … Read more
A development well is a well that is drilled specifically for the purpose of producing oil or gas, as opposed to an exploration well, which is drilled in an attempt to find a new oil or gas reserve. Development wells are typically drilled once the location of a new oil or gas reserve has been … Read more
The Nelson Complexity Index (NCI) is a measure of the degree of complexity of an oil field. It was developed by Richard Nelson, an American petroleum engineer, in the early 1970s. The NCI is calculated by dividing the sum of the squares of the estimated ultimate recoverable reserves (EURR) of all the wells in an … Read more
A Christmas tree is a type of wellhead used in the oil and gas industry. It is named after its resemblance to a decorated evergreen tree. Christmas trees are used to control the flow of oil and gas from a well. They are typically installed after the well has been drilled and completed. Christmas trees … Read more
The term “barrel of oil equivalent (BOE)” is used to express the amount of energy contained in a barrel of oil in terms of the energy content of other fuels. The BOE is a unit of energy equivalent to the energy content of 1 barrel (42 US gallons or 158.9873 litres) of crude oil. The … Read more
