Oil and Gas.
A mixture of liquid hydrocarbons of different molecular weights.
A geographic area under which an oil reservoir lies.
A measure of an oil’s density. Gravity is commonly used as an indicator of a crude oil’s worth. The less dense oils are of greater value.
Oil in place
An estimated measure of the total amount of oil contained in a reservoir, and, as such, a higher figure than the estimated recoverable reserves of oil.
The company that has legal authority to drill wells and undertake the production of hydrocarbons that are found. The Operator is often part of a consortium and acts on behalf of this consortium.
The costs of operating a well to produce oil & gas.