In GSA negotiations, the base price defines what price the escalation is applied to and the actual or effective price may be above or below that base price depending on how the escalation factors move. A floor price is a level below which the price will not be allowed to go regardless of whether escalation …
These are commonly layers of sedimentary rock separated by breaks called bedding planes. The sedimentary bed is the basic unit, or fundamental building block of stratigraphy. The lithologic composition of beds, their geometry, their trajectory, stacking patterns and hierarchies are used to interpret their depositional setting. Beds may signal a global process that acted over …
A class of synthetic chemicals that are odorless, non-toxic, non-flammable, and chemically inert. The first CFC was synthesized in 1892, but no use was found for it until the 1920s. Their stability and apparently harmless properties made CFCs popular as propellants in aerosol cans, as refrigerants in refrigerators and air conditioners, as degreasing agents, and …
The transmission of electricity by an entity that does not own or directly use the power it is transmitting. Wholesale wheeling is the sale and delivery of energy among buyers and sellers in the wholesale market, whereas retail wheeling allows power producers direct access to retail customers
An appraisal well drilled with minimum preliminary information about the underlying structure and conditions; it usually follows a wildcat well that reported shows of oil or gas
The WilderHill New Energy Global Innovation Index is comprised of companies worldwide whose innovative technologies and services focus on generation and use of cleaner energy, conservation and efficiency and advancing renewable energy generally. Included are companies whose lower-carbon approaches are relevant to climate change, and whose technologies help reduce emissions relative to traditional fossil fuel …
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Concept needs to be negotiated within the JOA, but in general includes intentional, conscious or reckless (but not generally negligent) acts. Negotiations will focus on whether or not, or to what extent prudence, foresight and prevention must be applied
Net Working Capital, is defined as Current Assets minus Current Liabilities. Current assets include stocks, debtors, cash & equivalents and other current assets. Current liabilities include all the short-term borrowings. The formula is the following and the figures are expressed in millions: = (stocks + debtors + cash & equivalents + current assets, other) – …
Usually involve using a workover rig to restore or stimulate production on a well. Workover operations could be necessary for instance if sand has clogged the tubing end of an open hole completion, thus reducing or cutting off the flow of fluid
The World Energy Council is the most representative body of the energy industry with members in more than ninety countries. Its mission is to promote the sustainable supply and use of energy for the greatest benefit of all. The London-based organization has official consultative status with the United Nations
