Used in both depletion and supply contracts of a gas sales agreement. It is the maximum daily amount that the buyer can nominate and which the seller is obliged to deliver. It is generally set at a fixed amount of the DCQ, such as 150% thereof.
In this case the seller of the LNG arranges the shipping and title of the cargo is transferred at the destination or after loading.
Test in an oil and/or gas well to determine its flow capacity
Measure of the amount of gas that can be delivered (withdrawn) from a storage facility on a daily basis. It also represents the number of future years during which a pipeline company (where pipeline companies are permitted to enter into GSA agreements) can meet its annual requirements for its presently certificated delivery capacity from presently committed sources of natural gas supply.
The actual physical transfer of natural gas from a company in question to facilities operated by another company or to consumers
To remove from a list, especially from a list of securities that may be traded on a stock exchange
A well drilled at a distance from a discovery well to determine the physical extent, reserves and likely production rate of a new oil or gas field
In December 2008 Shell set a world water depth record in drilling and completing a subsea well 9,356 ft below the water’s surface. The SA001 well was drilled to 16,300 ft TD in Silvertip field at the Perdido regional development project, 200 miles from Houston. Silvertip field is on Alaminos Canyon Block 815 in OCS lease G19409 in the Gulf of Mexico. The Noble Clyde Boudreaux double-derrick, dual-activity semisubmersible drilled and completed the record well. The semisub employed 16 mooring lines on this project. As an oil well, the Silvertip record is 35% deeper than the previous oil well record of 6,950 ft, also set by Shell in Fourier field also in the gulf. At Perdido, Shell intends to drill an even deeper well in Tobago field at 9,627 ft on Alaminos Canyon Block 859. Shell operates Perdido on behalf of partners Chevron Corp. and BP PLC. Moored in 8,000 ft of water, the drilling and production facility will be the deepest offshore well in the world. Nine polyester mooring lines averaging more than 2 miles in length now hold the spar in place. The floating structure will weigh 50,000-tons and be nearly as tall as the Eiffel Tower when fully operational. First production from Perdido is expected in early 2010, with the facility capable of handling 130,000 boe/d.
