05.07.2009
An elastic wave or sound wave in which particles oscillate in the direction the wave propagates. P-waves are the waves studied in conventional seismic data
It is important to develop mathematical relationships for predicting the behavior of fluids/gases under any imaginable condition of pressure, temperature and volume (P-V-T). This is a very challenging problem. The way science approaches these sorts of problems is to introduce simplifications of the physical reality, by formulating a set of assumptions and coming up with a base model that might be called ideal. From that point on, once the base model has been established, one looks at a real case by estimating how close (or far) it performs, with respect to the base (ideal) case, and introducing the corresponding corrections. Such corrections will take into account all the considerations that the original assumptions left out.
An option which gives the buyer, or holder, the right, but not the obligation, to sell a futures contract at a specific price within a specific period of time in exchange for a one-time premium payment. It obligates the seller, or writer, of the option to buy the underlying futures contract at the designated price, should an option be exercised at that price.
Used for drilling petroleum in an oil field