An oil company that engages in exploration, drilling, and/or producing, but does not engage in transportation, refining, or retail sales. Independent producers may process natural gas and market natural gas to gas consumers using third party pipelines to transport the gas.

Rock that is formed directly from the molten state.

Drilling of wells in a new field in order to maximize recovery of oil and/or gas.

The figure given to a well indicating its capability to produce. May be the first fill production, or a fraction thereof, multiplied to the equivalent of a day (initial potential). Abbreviated IP.

A well used to inject gas, water, or LPG under high pressure into a producing formation to maintain sufficient pressure to produce the recoverable reserves.

Pressure at which gas, water, or LPG is injected into a producing formation.

The portion of an expense being borne by the operator and not billed to the other working interest owners.

Setting fire to some oil in the reservoir to create a burning front of gases which will drive oil ahead of it to the well bore.

(ICC) The costs that are associated with completing a well that are not salvageable.

(IDC) The costs associated with drilling a well (these costs are not a part of the final operating well).

The string of casing set in a well after the surface casing and before production casing. It serves to protect the well bore as the well is deepened and to seal off the problem formations such as high-pressure areas.

Gas sold or transported without the pipeline's prior guarantee to move the gas.

An individual or company that takes a workinginterest in a deal.

The Oil and Gas Revenue/Billing cycle update will create G/L entries for the selected owner(s) on either an accrual (production run date) or cash (check date) basis. A difference option can be defined for each owner (Investor Entries).

Independent Petroleum Association of America

A refinery process in which normal, straight chain hydrocarbons are converted into branch chain isomers. These branch chain isomers have a higher octane quality than single chain isomers.

Maps showing variations in the thickness of a particular sedimentary bed and the interval or spacing between one sedimentary bed and another.