Category: Oil and Gas business

A term used to describe tools, equipment, and instruments which are run into the borehole. Also pertains to techniques, processes, and conditions which apply to the wellbore and its environment

That quantity of petroleum which is estimated, on a given date, to be contained in known accumulations, plus those quantities already produced therefrom. Discovered petroleum-initially-in-place can be subdivided into commercial and sub-commercial quantities (equivalent to discovered resources).

A body of rock that cuts across the layers of its surroundings. Most dikes are made of magma, but some are made of sediments. The sandstone dikes were put emplaced as hydrocarbons and gases moved into the thick sand bed soon after it was buried and the sand dike rose into the overlying mud while all of the material was not yet hardened into stone. What defines a dike is that it cuts across the bedding planes of the rock it intrudes. When an intrusion cuts along the bedding planes, it is called a sill. In a simple set of flat-lying rock beds, dikes are vertical and sills are horizontal

A valve fitted into the production tubing of a well some distance below the surface. The valve can be closed in an emergency to stop the flow of oil and gas.

The first oil or gas well drilled in a new field. The discovery well is the well that is drilled to reveal the actual presence of a petroleum-bearing reservoir, Subsequent wells are development wells.

The act of boring a hole to determine whether hydrocarbons are present in commercially recoverable quantities in order to be able to produce these hydrocarbons. Drilling can be at first for exploratory purposes followed later by a development drilling. Drilling an oil/gas well is complex, expensive and potentially hazardous. The work is carried out by a drilling contractor under the supervision of the operating company. Wells are designed by a multi-disciplinary team comprised of drilling engineers, petroleum engineers, geologists and geophysicists in order to achieve the well’s objectives safely and at a reasonable cost