Author: bomuo

A drilling bit with cutting edges usually hardened against wear

A general term for special mechanical devices used to aid the recovery of equipment lost downhole

Retrieving objects from the borehole, such as a broken drillstring, or tools

Anything left in a wellbore. It does not matter whether the fish consists of junk metal, a hand tool, a length of drillpipe or drill collars, or an expensive MWD and directional drilling package. Once the component is lost, it is properly referred to as simply “the fish”

The offshore Israel fiscal terms are exceptional. Terms are very similar to USA Gulf of Mexico terms, and include a 27.5% Depletion Allowance. Corporate Tax is applied to income after deduction of royalty, costs, and the depletion allowance. Assuming the Leaseholder is a branch of a foreign company (no dividend tax), and applying 25% corporate tax (2010 forward), the effective tax rate can reach less than 15% due to favorable impact of the depletion allowance

The First Trust ISE-Revere Natural Gas Index Fund is an exchange-traded fund. The investment objective of the Fund is to seek investment results that correspond generally to the price and yield, before fees and expenses, of an equity index called the ISE-Revere Natural Gas IndexTM. The ISE-Revere Natural Gas IndexTM is an equal-weighted index comprised of exchange-listed companies that derive a substantial portion of their revenues from the exploration and production of natural gas. The Index is constructed by establishing the total population of stocks listed in the U.S. of companies involved in the exploration and production of natural gas and then eliminates stocks whose natural gas proved reserves do not meet certain requirements. From this universe, all candidate stocks are ranked using four different methods including Price/Earnings ratio, Price/Book ratio, Return on Equity and the correlation to gas futures prices. To meet index eligibility, a stock must also satisfy market capitalization, liquidity and weighting concentration requirements. Then rankings are then averaged and the top 30 stocks based on final rank are selected for the Index. The Index is rebalanced on the application of the above model on a quarterly basis

The 1973 oil crisis began on October 17 1973 when the members of OPEC announced as a result of the ongoing Yom Kippur war that they would not longer ship oil to nations that had supported Israel in its conflict with Syria and Egypt. At the same time, OPEC members decided to use their leverage over the world price-setting mechanism for oil in order to raise world oil prices

A method of valuing the cost of oil sold based on selling first the oldest oil bought whilst the remaining sales stem from current oil production. This can cause accountancy losses if oil is purchased at a higher price and prices consequently fall and is the system in use for instance at the Ashdod Refinery