05.07.2009

Represents the level of output that may be sustained continuously by the electricity utility’s power stations without significant risk of damage to plant and equipment. 

AIPN is a non-profit organization founded in 1981 to enhance the professionalism of cross-border energy negotiators throughout the world. It is comprised of approximately 2200 members in over 80 countries, representing numerous international oil and gas companies, host governments, law firms and academic institutions. Members come from many different disciplines (commercial, technical, academic, and legal) and represent many different international and host governments, oil gas and energy companies, and national and multilateral governmental authorities). Members of AIPN can use the company’s model agreements (GSA, CA, JOA, Farmout, etc.)

The total amount of oil and other fluids produced or processed per day.

A common unit of measurement for the daily volume of crude oil produced by a well or from a field

A term used to quantify oil and natural gas volumes based on energy equivalents.

A unit of volume measurement used for petroleum and its products (7.3 barrels = 1 ton: 6.29 barrels = 1 cubic meter). One barrel is equal to 42 U.S. gallons, or 5.6 cubic feet, or 159 liters of oil. The first b stands for blue for when Standard Oil would use blue barrels to transport their oil

When crude oil is $100 a barrel this is equivalent to $17.2 an mmbtu, which is an important ball-point to compare the price of crude oil to that of natural gas. As an example on the 1st of September 2008 when crude oil was $116.2 a barrel and natural gas was $8.2 an mmbtu, crude oil on an energy equivalent basis was $20.05, so that natural gas was in fact being traded at only 40% of crude oil.

Crude oil parity to natural gas (100%) translated into $/mmbtu results in a slope of 0.17 (namely if one multiplies the price of oil by 0.17 one receives the price of gas if it were on a 100% parity with oil)

Barium sulfate; a mineral frequently used to increase the weight or density of drilling mud.  Its relative density is 4.2 (or 4.2 times denser than water).