– unit of measure for oil and petroleum products, equivalent to 42 U.S. gallons.
– barrels of oil equivalent, used to equate natural gas volumes to liquid barrels at a general conversion rate of 6,000 cubic feet of gas per barrel.
– barrels of oil equivalent per day.
– barrels per day of oil or condensate.
– million British thermal units.
– thousand cubic feet of gas per day.
– total measured depth of a well.
– cumulative hydrocarbon-bearing formations.
NRI, Net Revenue Interest
– the percentage of production revenue allocated to the working interest after first deducting proceeds allocated to royalty and overriding interest.
Proved, Probable, Possible reserves
– are as defined in the SPE/World Petroleum Congress Standard.
– pounds per square inch.
– target total depth of a well.
–true vertical depth of a well.
WI, Working Interest
– the interest held in lands by virtue of a lease, operating agreement, fee title or otherwise, under which the owner of the interest is vested with the right to explore for, develop, produce and own oil, gas or other minerals and bears the proportional cost of such operations.
– operations on a producing well to restore or increase production. A workover or recompletion may be performed to stimulate the well, remove sand or wax from the wellbore, to mechanically repair the well, or for other reasons.
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Pelham Bell Pottinger
+44 (0) 20 7861 3232
ENQUIRIES OF EPL
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