| Key Terms |
Definition |
| Crude Oil |
A mixture of hydrocarbons that exists in liquid phase in natural underground
reservoirs and remains liquid at atmospheric pressure after passing through
surface separating facilities. Depending upon the characteristics of the crude
stream, it may also include:
Small amounts of hydrocarbons that exist in gaseous phase in natural
underground reservoirs but are liquid at atmospheric pressure after being
recovered from oil well (casinghead) gas in lease separators and are subsequently
commingled with the crude stream without being separately measured. Lease
condensate recovered as a liquid from natural gas wells in lease or field
separation facilities and later mixed into the crude stream is also included;
Small amounts of nonhydrocarbons produced with the oil, such as sulfur and
various metals;
Drip gases, and liquid hydrocarbons produced from tar sands, oil sands,
gilsonite, and oil shale.
Liquids produced at natural gas processing plants are excluded. Crude oil is refined to produce
a wide array of petroleum products, including heating oils; gasoline, diesel and jet fuels;
lubricants; asphalt; ethane, propane, and butane; and many other products used for their
energy or chemical content.
|
| Development Well |
A well drilled within the proved area of an oil or gas reservoir to the depth
of a stratigraphic horizon known to be productive.
|
| Dry Hole |
An exploratory or development well found to be incapable of producing either oil or
gas in sufficient quantities to justify completion as an oil or gas well.
|
| Exploratory Well |
A hole drilled: a) to find and produce oil or gas in an area previously
considered unproductive area; b) to find a new reservoir in a known field,
i.e., one previously producing oil and gas from another reservoir, or c) to
extend the limit of a known oil or gas reservoir.
|
| Natural Gas |
A gaseous mixture of hydrocarbon compounds, primarily methane, used as a fuel
for electricity generation and in a variety of ways in buildings, and as raw
material input and fuel for industrial processes. |
| Well |
A hole drilled in the earth for the purpose of (1) finding or producing crude oil
or natural gas; or (2) producing services related to the production of crude or
natural gas.
|
Definitions