Category: Oil and Gas business

Structures which are primarily made up of inverted faults and fault-related folds where even a moderate inversion is suitable for forming excellent hydrocarbon traps and are significant structures for oil and gas accumulation

Wells drilled between existing producing wells to enhance field development and increase production from the reservoir

National Grid Grain LNG Limited, a wholly owned subsidiary of National Grid, has constructed a liquefied natural gas importation and regasification terminal at the Isle of Grain in the south east of England. National Grid Grain LNG owns and operates the importation terminal. This is especially important with gas demand rising and domestic production set to decline in the UK which will need to import a significant proportion of its gas. The Isle of Grain terminal is the first of the UK’s new LNG-import facilities

Expenditures, deductible for income tax purposes, incurred by an operator for labor, fuel, repairs, hauling, and supplies used in drilling and completing a well for production.

One of the tax benefits of oil and gas investments is the ability to deduct intangible drilling costs, or IDCs. IDCs are expenses connected with drilling and preparing wells for production. Included are such items as wages, fuel, repairs, hauling charges and supplies. Initially, as much as three-fourths of an investment can go to pay for these intangibles, allowing a large deduction early into the investment

Natural gas sold to customers with a provision that permits curtailment or cessation of service at the discretion of the distributing company under certain circumstances as per the terms of the gas sales contract.

A gas delivery service with the lowest priority. Interruptions of supply of gas can be notified on short notice and usually happen during peak times when customers with higher priority need the gas. A customer with an interruptible service agreement has agreed to such in return for a lower tariff on his gas during times of supply.

Can be part of a GSA agreement

Infill seismic data is often required in addition to the primary seismic data to reduce exploration risk by providing a better data set. It is designed to infill the existing seismic grid in order to better define known leads and prospects.

Homogeneity in all directions. The property of homogeneity or uniformity of a rock which allows it to show the same responses or characteristics when measured along different axes