Acreage — An area, measured in acres, which is subject to ownership or control by those holding total or fractional shares of working interests. Acreage is considered developed when development has been completed. A distinction may be made between "gross" acreage and "net" acreage:
Gross - All acreage covered by any working interest, regardless of the percentage of ownership in the interest.
Net - Gross acreage adjusted to reflect the percentage of ownership in the working interest in the acreage.
Barrel — A unit of volume equal to 42 U.S. gallons.
bbl — The abbreviation for barrel(s).
bbl/d — The abbreviation for barrel(s) per day.
bcf — The abbreviation for billion cubic feet.
Biogenic emissions — Emissions that are naturally occurring and are not significantly affected by human actions or activity.
BOE — Barrels of Oil Equivalent (used internationally) calculated as follows: bbl + (mcf/6).
British thermal unit — The quantity of heat required to raise the temperature of 1 pound of liquid water by 1 degree Fahrenheit at the temperature at which water has its greatest density (approximately 39 degrees Fahrenheit).
Btu — The abbreviation for British Thermal Unit(s).
CFS — Cubic Feet per Second
Coal bed methane — Methane is generated during coal formation and is contained in the coal microstructure. Typical recovery entails pumping water out of the coal to allow the gas to escape. Methane is the principal component of natural gas. Coal bed methane can be added to natural gas pipelines without any special treatment.
Condensate (lease condensate) — A natural gas liquid recovered from associated and non associated gas wells from lease separators or field facilities, reported in barrels of 42 U.S. gallons at atmospheric pressure and 60 degrees Fahrenheit.
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. 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. Also see Well.
EPA — Environmental Protection Agency
Farm out (in) arrangement — An arrangement, used primarily in the oil and gas industry, in which the owner or lessee of mineral rights (the first party) assigns a working interest to an operator (the second party), the consideration for which is specified exploration and/or development activities. The first party retains an overriding royalty or other type of economic interest in the mineral production. The arrangement from the viewpoint of the second party is termed a "farm-in arrangement."
Fee interest — The absolute, legal possession and ownership of land, property, or rights, including mineral rights. A fee interest can be sold (in its entirety or in part) or passed on to heirs or successors.
Field — An area consisting of a single reservoir or multiple reservoirs all grouped on, or related to, the same individual geological structural feature and/or stratigraphic condition. There maybe two or more reservoirs in a field that are separated vertically by intervening impervious strata or laterally by local geologic barriers, or by both.
Flared — Natural gas that is disposed of by burning.
Gas well — A well completed for production of natural gas from one or more gas zones or reservoirs.
