Black gold
Term that usually refers to petroleum (sometimes to coal)
Bleed
To drain off liquid or gas, generally slowly, through a valve called a bleeder. To bleed down, or bleed off, means to release pressure slowly from a well or from pressurized equipment
Blocks offered in licensing round
When a governmental body offers exploration acreage for leasing by exploration and production companies, typically in return for a licensing fee and an obligation to perform a set program. This program can include acquisition of seismic data or drilling a well. Exploration licenses are initially of limited duration (about 3-5 years) after which there might …
Blowdown
A blowdown is the act of releasing / purging natural gas from a section of pipeline so work can be done safely. A loud noise occurs when the natural gas, which is compressed into the pipe at very high pressure, escapes through the opening. As the natural gas rushes through the blowdown valve, a gas …
Blow-out preventer; blowout stack
A large valve at the top of a well that may be closed if the drilling crew loses control of formation fluids. Casinghead equipment that prevents the uncontrolled flow of oil, gas or mud from the well. By closing this valve (usually operated remotely via hydraulic actuators), the drilling crew usually regains control of the …
Blowout well; Well blowout. Blow out
An uncontrolled flow of reservoir fluids into the wellbore, and sometimes catastrophically to the surface. A blowout may consist of salt water, oil, gas or a mixture of these. Blowouts occur in all types of exploration and production operations, not just during drilling operations. If reservoir fluids flow into another formation and do not flow …
Bluestream pipeline, Blue Stream Pipeline
The pipeline consists of three main parts. The route comprises a 222 mile section in Russia from Izobilnoye to Dzhugba on the Black Sea Coast (the Russian onshore section) a 235 mile section on the bottom of the Black Sea connecting Dzhugba to Samsun on the Turkish coast (submarine section) and a further 300 mile …
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Boiling water reactor
A common type of light water reactor (LWR), where water is allowed to boil in the core thus generating steam directly in the reactor vessel.
Booking oil and gas reserves; Reporting of oil and gas reserves
This term refers to the net amount at which an asset (reserves of oil and gas in this case) is carried on the books of account. Under SEC rules oil and gas companies are only allowed to book reserves from oil and gas finds that are considered readily available or from conventional sources. In addition, …
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Boring rod; drill pipe
A heavy, thick-walled steel pipe used in rotary drilling to turn the drill bit and to provide a conduit for the drilling mud.