Category: Oil and Gas business

Technique to determine the hydrocarbon potential in an acreage which identifies resistive reservoirs by measuring the energy received at long source-receiver offset distances

Elba Island is an existing LNG import terminal located on Elba Island, in Chatham County, Georgia. The initial authorization for the Elba Island facility was issued in 1972. LNG shipments ceased during the first half of 1980. In 2000, the project received Commission authorization to re-commission and renovate the LNG facilities. In 2003, the Commission issued an order authorizing the expansion of the facility, which included adding a second and third docking berth, a fourth cryogenic storage tank, and associated facilities. The expansion enabled an increase of working gas capacity and an increase of the firm sendout rate

The natural gas that is consumed by any consumer is measured by on-site meters, which essentially keep track of the volume of natural gas consumed at that location. Traditionally, in order to bill customers correctly, meter-reading personnel had to be dispatched to record these volumes. However, new electronic meter-reading systems are capable of transmitting this information directly to the local distribution company

Technical talk in the oil industry for a reservoir containing more than 500 billion barrels of oil

To prevent build-up of solids in the wellbore, hole-cleaning of the wellbore must be achieved by the drilling fluid. In fact, one of the primary functions of the drilling fluid is to carry the “cuttings” from the bit where they are created to the surface of the earth. In vertical or near vertical wells, the drilling fluid is normally formulated to have viscosity high enough to decrease the settling velocity of cuttings to a value much less than the upward velocity of drilling fluid in the hole, so the cuttings will be efficiently carried from the wellbore. Drilling mud is the fluid which is pumped into the well when it is being drilled in order to lubricate, control pressure and remove cuttings. It is a special mixture of clay, water, or refined oil, and chemical additives pumped downhole through the drill pipe and drill bit. The mud cools the rapidly rotating bit, lubricates the drill pipe as it turns in the well bore, carries rock cuttings to the surface, serves as a plaster to prevent the wall of the borehole from crumbling or collapsing, and provides the weight or hydrostatic head to prevent extraneous fluids from entering the well bore and to control downhole pressures that may be encountered. There are basically two types: oil based – which is safer (better at controlling the well) but poor for environment and health and water based – which is more environmentally friendly but not as good for well control. Characteristics of the mud include its weight/density which is measured in pounds per gallon – high ppg = heavy mud can cope with higher pressure. “On balance” is when the mud exerts enough pressure to stop fluids coming in and mud invading the formation. “Over balance” is when the pressure exerted by the mud forces it into the formation and damages the reservoir. “Under balance” is when the pressure exerted by the mud is less than the formation pressure and may thus not suffice to stop formation fluid influx (a kick)

An agreement made between a drilling company and an operating company to drill a well. It generally sets forth the obligation of each party, including method of drilling, depth to be drilled, etc.

A well which does not contain quantities of oil or gas that can be produced commercially

Royalties on oil and gas discovery in Israel are 12.5%