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Definitions (51)
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Qualified Ownership
The theory that minerals such as oil and gas cannot be owned in place before they are extracted and reduced to possession. In qualified ownership jurisdictions what the mineral owner owns is the exclu [..]
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Abandoned zone
Wells are frequently abandoned in particular zones within the well bore without abandoning the well itself. Absolute ownership
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ADDENDUM
An addition to a completed lease. Allowable
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ASSIGNMENT
The transfer of interest, right or title. Assignment clause
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ASSOCIATED GAS
Natural gas which, prior to human disturbance of the subsurface pool in which it is found, exists in association with petroleum in a cap of free gas above the petroleum (also known as ‘gas cap gas’). [..]
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Barrel
A common unit for measuring liquid hydrocarbons. One barrel contains about 159 litres. Or, there are approximately 6.29 barrels in one cubic metre. Battery
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Basin
Also called as structural basin is defined as a large-scale structural formation of rock strata formed by tectonic warping of previously flat lying strata. Structural basins are geological depressions [..]
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Bed
A layer of sediment or sedimentary rock, or stratum. A bed is the smallest stratigraphic unit, generally a centimeter or more in thickness. To be labeled a bed, the stratum must be distinguishable fro [..]
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bitumen
Naturally-occurring, inflammable organic matter formed from kerogen in the process of petroleum generation that is soluble in carbon bisulfide. Bitumen includes hydrocarbons such as asphalt and minera [..]
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casing pressure
The pressure in the annulus between the tubing and the casing measured at the casing head of a well. Caveat
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