Outer continental shelf
The submerged lands extending from the outer limit of the historic territorial sea (typically three miles) to some undefined outer limit, usually a depth of 600 feet
Overriding royalty interest; Overriding royalty
The right to receive a percentage of production or production revenues without having to invest in the cost of production. An overriding royalty is usually paid on the gross production revenues, namely before any expenses have been reimbursed and before even royalty has been paid to the state
Over-run gas
Gas taken by a consumer after a supply contract end date normally attracting higher charges
Over-the-counter transaction; Over the counter contract
A security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, etc. In general, the reason for which a stock is traded over-the-counter is usually because the company is small, making it unable to meet exchange listing requirements. In so far as gas is concerned, this represents a firm commitment to …
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Ozone
A molecule made up of three atoms of oxygen. In the stratosphere, it occurs naturally and provides a protective layer shielding the Earth from ultraviolet radiation and subsequent harmful health effects on humans and the environment.
Packer
A device that can be put into the wellbore with an initially smaller diameter that then expands to seal the wellbore. (2) A downhole device used in nearly every completion to isolate the annulus from the production conduit, enabling controlled production, injection or treatment
Packer fluid
Liquid, usually salt water or oil, but sometimes mud, used in a well when a packer is between the tubing and the casing. Packer fluid must be heavy enough to shut off the pressure of the formation being produced, and should not stiffen or settle out of suspension over long periods of time, and must …
Paleoseismicity
Paleoseismicity refers to earthquakes recorded geologically, most of them unknown from human descriptions or seismograms. Geologic records of past earthquakes can include faulted layers of sediment and rock, injections of liquefied sand, landslides, abruptly raised or lowered shorelines, and tsunami deposits.
Paraffin control
Techniques used to prevent or reduce paraffin deposition. The deposition of paraffin can be caused naturally through the process of fluids moving through the reservoir and impair production. Some of the means to prevent paraffin accumulation include the use of paraffin inhibitors; maintaining pipe surfaces in a water-wet condition because paraffin will not adhere to …
Mishor Rotem Power Station; OPC Power Station; OPC IPP
OPC a subsidiary of the Ofer Group won the only IPP tender in Israel to construct a private power plant, at Mishor Rotem which will generate natural gas. As per the terms of the tender agreement, IEC is to pay OPC 49.5 shekels per MWh of net installed capacity. In September 2009, Israel Corp board …
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