Category: Oil and Gas business

Underground Injection is the process by which disposal of waste byproducts of the oil and gas industry are injected or pumped into deep underground reservoirs through a wellbore.

The unsaturated zone is the portion of the subsurface above the ground water table. It contains, at least some of the time, air as well as water in the pores. Its thickness can range from 0 meters, as when a lake or marsh is at the surface, to hundreds of meters, as is common in arid regions

The United States Natural Gas Fund is an exchange traded security that is designed to track in percentage terms the movements of natural gas prices. UNG issues units that may be purchased and sold on the NYSE Arca. The investment objective of UNG is for the changes in percentage terms of the units’ net asset value to reflect the changes in percentage terms of the price of natural gas delivered at the Henry Hub, Louisiana, as measured by the changes in the price of the futures contract on natural gas traded on the New York Mercantile Exchange that is the near month contract to expire, except when the near month contract is within two weeks of expiration, in which case it will be measured by the futures contract that is the next month contract to expire, less UNG’s expenses

Gas which is unaccounted for in a transmission system. Since meters are accurate to about 1% if one meter is located at the entry point and one at the exit point accuracy reaches up to 2%, but UAC gas is often less than this

Storage tanks for LNG, more expensive and complex but safer than above-ground tanks

Not deposited or arranged in horizontal layers

Un-booked reserves / resources are defined by many O&G companies as the best estimate of recoverable hydrocarbons where commercial and/or technical maturity are such that project sanction is not expected within the next three years.

Un-booked resources, which changed its name by SEC in 2009 to discovered resources, are defined as the best estimate of recoverable hydrocarbons where commercial and/or technical maturity are such that project sanction is not expected within the next three years