Author: bomuo

The amount of gas a buyer physically takes delivery of during a Contract Year under a long term supply contract. May be measured in same units as ACQ, or expressed as a percentage of ACQ.

A unit of volume often used in oil reservoir analysis, equivalent to the volume (as of oil or water) necessary to cover 1 acre to a depth of 1 foot. One of the most common units of measure used for reservoir capacity. In the U.S., the thickness of a pay zone is measured in feet, and the area of the reservoir is measured in acres. An acre-foot is a volume of reservoir rock that is one acre in area and one foot thick

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An area, measured in acres, that is subject to ownership or control by those holding total or fractional shares of working interests. In a well balanced portfolio of a mature O&G company acreage will represent between 10-20% of its overall portfolio value. The value of the acreage is based on such matters as location, water depth, fluid characteristic, geological conditions, expiration date of license/lease, potential size of discovery if exploration is successful, cost of drilling, etc.