Natural or induced production damage that can develop anywhere from the reservoir to the production pipelines. Natural damage occurs as produced reservoir fluids move through the reservoir. Induced damage is the result of fluids in the well and external operations, such as drilling, well completion, workover operations or stimulation treatment.
Costs incurred to operate and maintain wells and related equipment and facilities, including depreciation and applicable operating costs of support equipment and facilities and other costs of operating and maintaining those wells and related equipment and facilities. They become part of the cost of oil and gas produced, such as: costs of labor to operate the wells and related equipment and facilities; repair and maintenance costs; the costs of materials, supplies, and fuels consumed and services utilized in operating the wells and related equipment and facilities; the costs of property taxes and insurance applicable to proved properties and wells and related equipment and facilities; the costs of severance taxes; depreciation, depletion, and amortization (DD&A) of capitalized acquisition. Exploration, and development costs are not production costs, but also become part of the cost of oil and gas produced along with production (lifting) costs identified above. Production costs include the following subcategories of costs: well workers and maintenance; operating fluid injections and improved recovery programs; operating gas processing plants; ad valorem taxes; production or severance taxes; other, including overhead
Tariff paid by the transmission licensee for the purchase of electric energy, based on a rate determined by the PUA. The rate can change based on the time of generation and the type of generation unit
The last string of casing set in a well, inside of which is usually suspended a tubing string.
The mass of carbon dioxide emissions emitted during the production of each unit of oil and gas. The GHG potentials of other greenhouse gases are included in the calculation
The phase of the petroleum industry that deals with bringing the well fluids to the surface and separating them and storing, gauging, and otherwise preparing the product for delivery. The aim of production operations is to safely maximize the recovery of hydrocarbons from the field.
Reserves subcategorized as producing are expected to be recovered from intervals which are open and producing at the time of the estimate. Improved recovery is considered to be producing only after the improved recovery project is in operation
PPI program measures the average change over time in the selling prices received by domestic producers for their output. Sellers view PPI based escalation favorably because it is a useful hedge against collapsing oil prices and thus many oil and gas sales contracts are linked to the PPI
A well that has the capacity to produce commercial quantities of oil or gas
