| Key Terms |
Definition |
| Active Well Service Rig Count |
The number of rigs doing true workovers (where tubing is pulled from the well), or
doing rod string and pump repair operations, and that are, on average, crewed and
working every day of the month.
|
| 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.
|
| 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. |
| Offshore |
That geographic area that lies seaward of the coastline. In general, the coastline
is the line of ordinary low water along with that portion of the coast that is in
direct contact with the open sea or the line marking the seaward limit of inland water.
|
| Rotary Rig |
A machine used for drilling wells that employs a rotating tube attached to a bit
for boring holes through rock. |
Definitions