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Study sets matching "oil and gas"

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Study sets matching "oil and gas"

22 terms
Oil and Gas
plankton
source rock
black shale
reservoir rock
source of organic matter that may form oil and gas
name given to the rock in which the organic matter originally…
rock that is often a common source rock for oil formation
name given to the rock in which the oil has accumulated
plankton
source of organic matter that may form oil and gas
source rock
name given to the rock in which the organic matter originally…
22 terms
Oil and Gas
plankton
source rock
black shale
reservoir rock
source of organic matter that may form oil and gas
name given to the rock in which the organic matter originally…
rock that is often a common source rock for oil formation
name given to the rock in which the oil has accumulated
plankton
source of organic matter that may form oil and gas
source rock
name given to the rock in which the organic matter originally…
10 terms
Oil and Gas Vocabulary 1
mud
driller
above ground
activate
the liquid used in drilling to bring up the cuttings
person in charge of drilling operations on an oil rig;... the em…
on the surface of the earth
to make a device start
mud
the liquid used in drilling to bring up the cuttings
driller
person in charge of drilling operations on an oil rig;... the em…
119 terms
Oil and Gas Law-Final
QUIZ 1
During the August 19, 2014 lecture the…
During the August 19, 2014 lecture the…
Identify the correction sections in ea…
-
36 sections
640 acres
1-6, 7, 18 ,19, 30, 31
QUIZ 1
-
During the August 19, 2014 lecture the…
36 sections
158 terms
Oil and Gas
Geological Features of Conventional Co…
Steam assisted gravity drainage
Water Flooding
Forced Unitization statute
1. zone of porous and permeable rock... 2. Overlying impervious…
"Sag-D"; 2 different wells drilled with producer and injector…
In water drive reservoir, use some derricks to inject with wa…
When certain percent of lessee agree to enhanced recovery, en…
Geological Features of Conventional Co…
1. zone of porous and permeable rock... 2. Overlying impervious…
Steam assisted gravity drainage
"Sag-D"; 2 different wells drilled with producer and injector…
87 terms
Oil and Gas
Correlative Rights Doctrine
Rule of Capture
Ownership in Place (Majority View)
Non-Ownership Theory (Minority View)
An owner of oil and gas has the right to fair opportunity to…
As long as the well if bottomed beneath your land there is no…
Landlord owns all substances, including oil and gas, which un…
The landowner does not own the oil and gas which underlies hi…
Correlative Rights Doctrine
An owner of oil and gas has the right to fair opportunity to…
Rule of Capture
As long as the well if bottomed beneath your land there is no…
184 terms
Oil and gas
Igneous [ˈɪgnɪəs] (volcanic) rock... Granit
natural gas... methane, propane, helium…
cracking
wax
Изверженная порода (гранит)
жирный газ
крекинг нефти (разбивают твердую нефть)
парафин
Igneous [ˈɪgnɪəs] (volcanic) rock... Granit
Изверженная порода (гранит)
natural gas... methane, propane, helium…
жирный газ
46 terms
Oil & Gas
What is the rule of capture?
Surface Test
What types of Oil & Gas interests exist?
Mineral owner has the executive right…
Landowner is entitled to all the oil & gas he may bring to su…
Under Texas law, there are a number of substances that are de…
Mineral interest, surface interest, royalty interest, leaseho…
(bonus,royalty,delay rentals)
What is the rule of capture?
Landowner is entitled to all the oil & gas he may bring to su…
Surface Test
Under Texas law, there are a number of substances that are de…
41 terms
OIL & GAS
barrel
control room
crane operator
crude oil
: a round usually wooden container with curved sides and flat…
: a room serving as the centre of monitoring a building, cont…
: the person who operates a machine used for lifting and movi…
: unrefined oil found under the ground
barrel
: a round usually wooden container with curved sides and flat…
control room
: a room serving as the centre of monitoring a building, cont…
80 terms
Oil & Gas
Rule of Capture (Default Rule)
Rule of Capture (Limitations)
Fee simple owner
Severance
rule of non liability for causing oil and gas to migrate acro…
1) Negligently drilled oil and gas 2) Illegally drained oil a…
owns both the surface and the minerals below the surface
When owner transfers less than her entire interest (i.e.. if…
Rule of Capture (Default Rule)
rule of non liability for causing oil and gas to migrate acro…
Rule of Capture (Limitations)
1) Negligently drilled oil and gas 2) Illegally drained oil a…
12 terms
oil and gas. pipelines
air pollution
river bank
pitch spring
coastline pollution
release into the atmosphere of gases
the lateral edge of a river
source of water
release of wastes on the shore
air pollution
release into the atmosphere of gases
river bank
the lateral edge of a river
186 terms
Oil and gas
Operator/ producer duties: Statatory
Implied duties of operator:
Rule of Capture:
Severablilty:
1. satficatory plug the wells to the commissioners requiremen…
Develop premiss, Produce the lease hold, Protect
...
Oil and gas are not property of anyone until receded to actua…
Operator/ producer duties: Statatory
1. satficatory plug the wells to the commissioners requiremen…
Implied duties of operator:
Develop premiss, Produce the lease hold, Protect
23 terms
Oil and Gas
Consumer
Inability
Commodity
Demand
Someone who buy and produces and services-N
The fact of being unable to do something-N'
A product that brought and sold-N
The need or desire that people have for particular good and s…
Consumer
Someone who buy and produces and services-N
Inability
The fact of being unable to do something-N'
71 terms
Oil and Gas
Before Extraction... Ad Coelum Doctrine... O…
After Extraction
Rule of Capture
Mineral Interest
Ad Coelum Doctrine: "heaven to hell" theory own airspace to c…
Real property before; personal property after
-No liability for draining from adjacent lands... -Limitations:…
Created by either a mineral deed or oil and gas lease
Before Extraction... Ad Coelum Doctrine... O…
Ad Coelum Doctrine: "heaven to hell" theory own airspace to c…
After Extraction
Real property before; personal property after
40 terms
Oil and Gas
crude oil
oil
petroleum
Brent Crude
сира неочищена нафта
нафта
нафта-сирець
нафту сорту "Брент"
crude oil
сира неочищена нафта
oil
нафта
22 terms
oil and gas
seabed
Draining philosophy
crude
Heavy crude
Морское дно
Слив философия
Сырая нефть
тяжелая нефть
seabed
Морское дно
Draining philosophy
Слив философия
7 terms
Oil and gas
Geoscience
Geophysics
Professional geoscience
TCEQ's established regulations for the…
• The science of the Earth and its origin and history,... • the…
Refers to that science which involves the study of the physic…
Professional service which may include... • consultation, • inve…
• 30 TAC 213 - Edwards Aquifer... • 30 TAC 305 - Consolidated Pe…
Geoscience
• The science of the Earth and its origin and history,... • the…
Geophysics
Refers to that science which involves the study of the physic…
21 terms
Oil and Gas
Origin of hydrocarbons
petroleum
solid hydrocarbons
liquid hydrocarbons
-84% of crude oil is refined into fuel, principally for cars…
General term for all naturally occurring hydrocarbons
asphalt
crude oil
Origin of hydrocarbons
-84% of crude oil is refined into fuel, principally for cars…
petroleum
General term for all naturally occurring hydrocarbons
15 terms
Oil and gas
Oil recovery
Oil reservior
Injection of pressure
Residual
Нефтедобыча
Нефтяная залежь
Нагнетание давления
Остаточный (нефть в залежи)
Oil recovery
Нефтедобыча
Oil reservior
Нефтяная залежь
22 terms
Oil and Gas
Hydraulic Conductivity of Shale:
Industrial Uses for Natural Gas:
Major Constituent of LNG
Major Constituents of NGL
INCREASES due to fracturing
Production of Methanol and Fertilizers
Methane
Ethan, Propane, Butane, Pentane
Hydraulic Conductivity of Shale:
INCREASES due to fracturing
Industrial Uses for Natural Gas:
Production of Methanol and Fertilizers
42 terms
Oil and Gas
Rule of Capture
Subsurface Trespass
Surface Trespass
Surface Owners
There is no liability for capturing oil and gas that drains f…
Drilling down and then over into someone's property is trespa…
Can't go onto another's property to retrieve oil and gas ... Dry…
Interests are secondary to the mineral owner (who becomes the…
Rule of Capture
There is no liability for capturing oil and gas that drains f…
Subsurface Trespass
Drilling down and then over into someone's property is trespa…
14 terms
Oil and Gas
Phases of upstream operations
Regions with most Oil reserves
Regions with most Gas reserves
Top oil consuming countries
1) pre-acquisition... 2) acquisition... 3) evaluation; appraisal; e…
(1) Middle East; (2) S. & Central America; (3) North America
(1) Middle East; (2) Europe & Eurasia; (3) Asia Pacific
(1) USA; (2) China; (3) Japan
Phases of upstream operations
1) pre-acquisition... 2) acquisition... 3) evaluation; appraisal; e…
Regions with most Oil reserves
(1) Middle East; (2) S. & Central America; (3) North America
68 terms
Oil and Gas
rule of capture
limitations to rule of capture
Types of Oil and Gas Interests
Mineral Interest
rule of non liability for causing oil and gas to migrate acro…
rule of capture is limited by doctrine of correlative rights,…
Fee Simple Interest and Severance: a fee simple owner of prop…
In TX, the mineral interest in oil and gas is a specific poss…
rule of capture
rule of non liability for causing oil and gas to migrate acro…
limitations to rule of capture
rule of capture is limited by doctrine of correlative rights,…
130 terms
Oil and Gas
hollow tool
Bearing in mind
borehole/well
by abrasion
herramienta hueca
considerando/ teniendo en cuenta
pozo/perforación
por abrasión
hollow tool
herramienta hueca
Bearing in mind
considerando/ teniendo en cuenta
25 terms
Oil and Gas
Petroleum reservoir
Explorationist
Geophysics
Gravimeter
A subsurface pool of hydrocarbons contained in porous or frac…
A person with extensive geological training whose job is to s…
A sensitive weighing instrument for measuring variations in t…
a sensitive weighing instrument for measuring variations in t…
Petroleum reservoir
A subsurface pool of hydrocarbons contained in porous or frac…
Explorationist
A person with extensive geological training whose job is to s…
49 terms
Oil and Gas
What is Petroleum?
Requirements For The Formation of Oil…
Source Rock Formation
Sapropel
a naturally occurring, viscous hydrocarbon mixture of Crude O…
originate in sedimentary basins. The main requirements to for…
Petroleum is formed from the remains of microscopic marine or…
After plankton accumulate on the sea bed anaerobic bacteria c…
What is Petroleum?
a naturally occurring, viscous hydrocarbon mixture of Crude O…
Requirements For The Formation of Oil…
originate in sedimentary basins. The main requirements to for…
29 terms
Oil and gas
where does must M&A activity take place
do other segments outside of upstream…
why are production and reserves import…
common metrics
in the upstream because those companies focus on finding and…
no, not to the same extent. everything is sensitive commodity…
reserves are key inputs for net asset value model... production:…
Proved reserves, 90%... daily production, how much in minerals/e…
where does must M&A activity take place
in the upstream because those companies focus on finding and…
do other segments outside of upstream…
no, not to the same extent. everything is sensitive commodity…
68 terms
Oil and Gas
rule of capture
limitations to rule of capture
Types of Oil and Gas Interests
Mineral Interest
rule of non liability for causing oil and gas to migrate acro…
rule of capture is limited by doctrine of correlative rights,…
Fee Simple Interest and Severance: a fee simple owner of prop…
In TX, the mineral interest in oil and gas is a specific poss…
rule of capture
rule of non liability for causing oil and gas to migrate acro…
limitations to rule of capture
rule of capture is limited by doctrine of correlative rights,…
13 terms
Gas and Oil
How long ago was petroleum formed?
What accumulated on top of the dead pl…
What three things changed the dead pla…
How is a fossil formed?
350 million years ago
sand, clay and mud
pressure, heat and bacterial action/decay
plants and animals die, sediment accmulates and hardens, the…
How long ago was petroleum formed?
350 million years ago
What accumulated on top of the dead pl…
sand, clay and mud
412 terms
Oil & Gas
Issues Raised by Transition Period of…
Two Theories of Oil & Gas Origin
Reservoir Layers
Phases of Fracking
1. Lease Shape Differences... 2. Adapting Leases... 3. Traditional…
1. Organic Theory ... 2. Non-organic Theory (less accepted)
1. Gas (lightest)... a. Free gas (cap) ... b. Solution... 2. Oil ... 3.…
1. Hydraulic fluid pumped into productive zone to instigate f…
Issues Raised by Transition Period of…
1. Lease Shape Differences... 2. Adapting Leases... 3. Traditional…
Two Theories of Oil & Gas Origin
1. Organic Theory ... 2. Non-organic Theory (less accepted)
12 terms
Oil and Gas
What makes an Metamorphic rock?
What makes an Igneous rock?
What can Make Sediments?
What make an Sedimentary rock?
Heat and Pressure
Cooling Magma
Weathering erosion
Compaction and Condemnation
What makes an Metamorphic rock?
Heat and Pressure
What makes an Igneous rock?
Cooling Magma
22 terms
Oil & Gas
Essential adj.
Reliance n.
Volatile adj.
Recovery n.
Extremely important and necesssary
When someone or something is dependent on someone or something
A volatile situation is likely to change suddenly and without
The process of returning to a normal after a period of touble…
Essential adj.
Extremely important and necesssary
Reliance n.
When someone or something is dependent on someone or something
17 terms
Oil & Gas
Accommodation Doctrine
Production in Paying Quantities(PPQ)
Effect of failure to pay delay rentals…
Effect of failure to pay royalties owe…
A mineral owner must accommodate preexisting surface uses if…
Revenues - royalties - operating cost
Terminates the lease
Lessor has a claim
Accommodation Doctrine
A mineral owner must accommodate preexisting surface uses if…
Production in Paying Quantities(PPQ)
Revenues - royalties - operating cost
23 terms
Oil and Gas
Essentail
Reliance
Volatile
Recovery
(Adj.) Extrenmely import and necessary.
(N.) When someone or something is dependent on someone oe som…
(Adj.) A volatile situation is likely to change suddenly and…
(N.) The process of returning to a normal condition after a p…
Essentail
(Adj.) Extrenmely import and necessary.
Reliance
(N.) When someone or something is dependent on someone oe som…
33 terms
Oil & Gas
What is included in the Mineral/Surfac…
General Rules to Remember: Fractional…
Duhig Doctrine
Accommodation Doctrine
1. Is substance: (i) building stone; (ii) lime stone; (iii) c…
1. Deeds are construed against grantor... 2. "Four Corners" rule…
In a three or more party chain of conveyance in which the gra…
Requiers mineral owners to accommodate surface uses but ONLY…
What is included in the Mineral/Surfac…
1. Is substance: (i) building stone; (ii) lime stone; (iii) c…
General Rules to Remember: Fractional…
1. Deeds are construed against grantor... 2. "Four Corners" rule…
10 terms
Oil and Gas
exploration
fracking
increasing controversy over fracking
enhancing recovery
-drilling is the main method to test for presence of hydrocar…
-wells drilled and water is injected at high pressure to frac…
-fluid injected is water mixed with chemicals... -contamination…
-water injection used to displace hydrocarbons to enhance rec…
exploration
-drilling is the main method to test for presence of hydrocar…
fracking
-wells drilled and water is injected at high pressure to frac…
84 terms
Oil and Gas
Industry Overview
Recent History
Causes of Bust
The Four Verticals
Oil and gas is an extremely dynamic industry that is affected…
Oil and gas is a boom and bust industry; crude oil prices rea…
This price decline is due to a strong US dollar, oversupply d…
There are four sectors, or verticals, in the oil and gas valu…
Industry Overview
Oil and gas is an extremely dynamic industry that is affected…
Recent History
Oil and gas is a boom and bust industry; crude oil prices rea…
93 terms
Oil and Gas.
What is the Rule of Capture?
What are the limitation on the rule of…
What does the rule of capture not appl…
What are the types of Oil and Gas inte…
-Rule of Capture: the basic default rule for mineral rights i…
-limited by doctrine of "correlative rights" means that every…
(1) negligently drilled oil and gas (eg well blowout)... (2) ill…
(1) Fee Simple Interest and Severance... (2) Mineral Interest's…
What is the Rule of Capture?
-Rule of Capture: the basic default rule for mineral rights i…
What are the limitation on the rule of…
-limited by doctrine of "correlative rights" means that every…
8 terms
Oil and Gas
Overall
Activities
Kerogen
Depth
полный, общий, от начала до конца
Деятельность; мероприятие, мероприятия в какой-либо области
кероген (органическое вещество битуминозных сланцев)
глубина (измеряемая от поверхности до дна)
Overall
полный, общий, от начала до конца
Activities
Деятельность; мероприятие, мероприятия в какой-либо области
23 terms
Oil and Gas
Essential
Reliance
Volatile
Recovery
(adj.)extremely important and necessary.
(n.) when someone or something is dependent or someone or som…
adj. a volatile situation is likely to change suddenly and wi…
n. The process of returning to a normal condition after a per…
Essential
(adj.)extremely important and necessary.
Reliance
(n.) when someone or something is dependent or someone or som…
94 terms
Oil and Gas
onshore platform
oilfield
offshore platform
pump jack
наземные буровые платформы
месторождение нефти
буровая морская платформа
станок-качалка
onshore platform
наземные буровые платформы
oilfield
месторождение нефти
50 terms
Oil and Gas
Rule of Capture
Limits on Rule of Capture
Ownership in Place theory
Mineral interest
Owner entitled to all the OG he may bring to the surface even…
Correlative rights... - Cannot negligently or intentionally dama…
Texas holds that a landowner owns all oil and gas in place un…
Fee simple ownership of OG in place under the land... 5 interes…
Rule of Capture
Owner entitled to all the OG he may bring to the surface even…
Limits on Rule of Capture
Correlative rights... - Cannot negligently or intentionally dama…
76 terms
Oil and gas
Ad Valorem Tax
backwardation
barrel (oil)
British thermal unit
Tax mposed at a percent of value. i.e local porperty taxes
downward sloping forward curve
volumetric unit of measurement equivalent to 42US standard ga…
Amount of heat required to raise the temp of one pound of wat…
Ad Valorem Tax
Tax mposed at a percent of value. i.e local porperty taxes
backwardation
downward sloping forward curve
43 terms
Oil and Gas
Rule of Capture... Limitations to the Ru…
Types of Oil/Gas Interests:... 1.Fee Sim…
Economic Benefits
Lois grants to Brian a 1/16 royalty on…
Rule of nonliability for causing oil and gas to migrate acros…
1.a fee simple owner of property owns both the surface and mi…
bonus: an upfront payment for signing the lease; royalty: a f…
1/16 of all production
Rule of Capture... Limitations to the Ru…
Rule of nonliability for causing oil and gas to migrate acros…
Types of Oil/Gas Interests:... 1.Fee Sim…
1.a fee simple owner of property owns both the surface and mi…
42 terms
Oil & Gas
Hydrocarbon
Aromatic rings
Paraffin
asphaltenes
Carbon that has a bunch of hydrogens in it
is an aromatic molecule (means you can smell it) 6 carbons in…
long hydrocarbon chain, same as straight chain, only more car…
40-60 carbons, structure is unclear (motherload of all organi…
Hydrocarbon
Carbon that has a bunch of hydrogens in it
Aromatic rings
is an aromatic molecule (means you can smell it) 6 carbons in…
158 terms
Oil and Gas
Austin Chalk
Ownership in Place
Non-ownership/exclusive right to take…
Duties of correlative rights
Fractured reservoir- first unconventional. Horizontal drillin…
Texas ownership theory. Own in fee simple all substances bene…
Oklahoma theory of ownership. Doesn't own oil under land, own…
No unlawful production, no waste or unreasonably injury of re…
Austin Chalk
Fractured reservoir- first unconventional. Horizontal drillin…
Ownership in Place
Texas ownership theory. Own in fee simple all substances bene…
23 terms
Oil and gas
Falter
Produce
Maintain
Output
To become weaker.
Make something or manufacture for people.
Keep something in the same way it was before.
Amount of something produced by a person, machine, or industry.
Falter
To become weaker.
Produce
Make something or manufacture for people.
37 terms
Oil and Gas
fuel / fossil fuel
state of matter
gaseous state
conditions
Treibstoff
Aggregatzustand
Gaszustand
Bedingungen
fuel / fossil fuel
Treibstoff
state of matter
Aggregatzustand
16 terms
Oil and gas
Industrialization
Petroleum
Prohibition
Progressivism
The making of products from natural resources
A thick oily liquid found deep in the earth used in natural o…
A national movement to ban the manufacturer sale transportion…
Social remmovement based on improving society through the pow…
Industrialization
The making of products from natural resources
Petroleum
A thick oily liquid found deep in the earth used in natural o…
41 terms
Oil and Gas
What does production mean?
Formula for Production in Paying Quant…
Temporary Cessation Doctrine
The Marginal Well Doctrine
Production in paying quantities
Revenues - minus lessor's royalty - operating costs
Once PPQ is established, a temporary cessation due to "a sudd…
--Some wells only produce PPQ during some months of the year.…
What does production mean?
Production in paying quantities
Formula for Production in Paying Quant…
Revenues - minus lessor's royalty - operating costs
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