Category: Oil and Gas business

Anything which is in the wellbore and is not supposed to be there or is stuck in the well

One of the world’s largest gas and condensate fields located in north west Kazakhstan, it holds HIIP of 9 billion bbls of condensate and 48 tcf of gas with estimated gross reserves of over 2.4 billion bbls condensate and 16 tcf of gas

The time taken for cuttings to reach the surface

A tool run into the wellbore to retrieve junk from the bottom of the hole or stuck in the well

A barge that is specially equipped to lay submarine pipelines

Entry of water, gas, oil, or other formation fluid into the wellbore during drilling. It occurs because the pressure exerted by the column of drilling fluid is not great enough to overcome the pressure exerted by the fluids in the formation drilled. If prompt action is not taken to control the kick, or kill the well, a blowout may occur.

A modified drill bit utilizing a hydraulic jet to increase the drilling rate.

Mineral rights in an oil and gas lease differ from surface rights. A landowner may own the surface rights but not the mineral rights on the land as indeed in many cases, the mineral rights are separated from the surface rights. Only the mineral rights owner has the right to extract the oil and gas from the land

When equipment is lost down a well and cannot be retrieved economically, the well is junked, namely plugged and abandoned