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Definitions (35)
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abandon
To temporarily or permanently cease production from a well or to cease further drilling operations.
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assignee
The person to whom the interests are assigned.
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Assignor
Person who conveys interest in an assignment.
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borehole
The hole created by the drilling of the well.
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Bottomhole
The lowest or deepest part of a well.
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casing
Steel pipe placed in an oil or gas well to prevent the wall of the hole from caving in, to prevent movement of fluids from one formation to another and to aid in well control.
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CHECK STUB
Stub attached to a check disclosing well name, month of production, price received, total volumes produced, and net decimal interest of payee.
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completion
After the drilling of a successful well, the “completion” includes all the work required to make the well ready for commercial production.
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Conveyance
Legal term for transferring the title of a property from one party to another, typically by deed (or bill of sale, etc.)
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crude oil
A naturally occurring mixture of liquid hydrocarbons as it comes out of the ground.
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