A method of pumping oil from wells by using a downhole pump without sucker rods. Subsurface hydraulic pumps consist of two reciprocating pumps coupled and placed in the well. One pump functions as an engine and drives the other pump (the production pump).
In a JV, when one company has an interest in an oil or gas asset with other producers in properties from which natural gas is produced, the entitlements method is often used to account for any imbalances. Imbalances occur when a company sells more or less product than they are entitled to under their ownership percentage. Revenue is recognized only on the entitlement percentage of volumes sold. Any amount that is sodl in excess of the entitlement is treated as a liability and is not recognized as revenue. Any amount of entitlement in excess of the amount sold is recognized as revenue and a receivable is accrued.
Special case where the directional drilling is at an angle greater than 80°
That part of identified oil or gas resources in known productive reservoirs in existing fields in addition to measured reserves that are expected to respond to improved recovery techniques. Indicated reserves are usually included as part of inferred reserves
A well developed process that forces a chemical-laden solution deep into the rock, allowing natural gas to be released. The technique is being used inter alia to exploit the Marcellus Shale, one of America’s biggest natural gas formations
A colorless gas with an offensive stench that is said to smell like rotten eggs. The gas can be detected at a level of 2 parts per billion. It is measured by a hydrogen sulfur analyzer. Natural gas contains up to several percent of hydrogen sulfide and as such are called sour gas wells from their offensive stench.
The intention of the hydrogen sulphide (H2S) specification is to prevent excessive quantities of this odorous, corrosive and toxic component entering the INGL pipelines.
International code for the construction and equipment of ships carrying LNG in bulk
The Strait of Hormuz is a narrow (34 km at its narrowest width) strategically important waterway between the Gulf of Oman in the southeast and the Persian Gulf in the southwest, Iran on the north coast and the United Arab Emirates on the south coast. Between 20-40% of the world’s oil supply passes through the Strait. Iran has threatened that if its nuclear power infrastructure is bombed it will close down the strait
Initial indications of the possible discovery of natural gas may be reached after a very preliminary study at the conclusion of drilling, but these need to be verified through electric logging, etc.
A chemical compound of hydrogen and carbon, called petroleum
