Definitive Feasibility Study: If a PFS has suggested viability, a mining/oil & gas company will move to a DFS as it tightens its assessment of a proposed new That's why we put together the Natural Gas Glossary to help you find the words you need to understand the industry. Browse a comprehensive alphabetized list 5 Jan 2018 In the oil and gas industry, several opportunities exist for boosting productivity. By conducting a thorough oil and gas financial analysis, businesses can negotiate with suppliers to come up with optimized payment terms. Business Finance Solutions has helped numerous companies in the oil and gas industry with production financing, working capital, mergers and acquisitions over the years. Below are just a few of the more important terms we think you should recognize when you engage in an oil and gas production financing transaction or other business deal in the oil and gas industry. Oil & Gas Accounting 101 – Terminology Authorization for Expenditure (AFE) – A document shown to investors in a well Barrel (BBL) – The basic unit for measuring oil. A barrel is equal to 42 U.S. gallons. Credit – The right side of an entry to the G/L. Debit – The left side of an entry to the Oil-equivalent gas The volume of natural gas needed to generate the equivalent amount of heat as a barrel of crude oil. Approximately 6,000 cubic feet of natural gas is equivalent to one barrel of crude oil. Oil sands Naturally occurring mixture of bitumen (a heavy, viscous form of crude oil), water, sand and clay.
The oil and gas industry uses many acronyms and abbreviations. This list is meant for indicative purposes only and should not be relied upon for anything but
The Platts industry glossary provides definitions for common industry terms in the Also known as wet gas. natural gas produced in association with crude oil. Formally the Black-Scholes-Merton model, it is a model of financial markets with Find out why outsourcing the standardized measure of oil and gas (SMOG) calculation Dave Loucks is a Director in the Complex Financial Reporting group at
Acreage: an area covered by a lease granted for oil and gas exploration. Actuals: Merc" is a financial and commodity derivative exchange. Since 2008 the
6 Dec 2017 There is a wide range of terminology specific to the oil and gas industry, and if you're new to the industry, acclimating to the terminology can be The course will cover the main terminology and industry jargon. Finance personnel new to the oil and gas industry who need to understand the specialist Financing For Oil and Gas Companies today (in terms of dollar value), which means the oil and gas industry typically contributes a significant amount towards
Oil & Gas Industry Glossary of Selected Terms To Accompany a Range of Training Courses well drilled after the discovery of oil or gas to establish the limits of the reservoir, the productivity of wells in it, the properties of the oil or gas and to (a commodity or financial instrument) at a specified strike price for a
Companies usually lease these vessels to customers, which may include independent oil and gas companies, national oil companies, and the major integrated oil companies, for a premium. A company also includes this type of financial information regarding its fleet in the annual report. The course will dissect some select oil and gas contracts, in particular, JV agreements (JOAs and PSCs), and illustrate how an accountant can best interpret and account for the various elements of the agreements, and what actually happens in practice. Midstream is a term used to describe one of the three major stages of oil and gas industry operations. The others are upstream and downstream.
Oil & gas industry sectors and players Mission –to find and extract •The Exploration & Production sector involves all operations associated with finding and extracting oil and gas. •E&P sector can be broken out into the exploration and production components. •Timing between the two components can take years (and usually does!). Crude terms
View the helpful and extensive glossary of key oil industry terms OPIS has compiled It is usually based on the composite cost of financing rate base from debt, The quantity of gas a buyer or shipper has nominated to receive on an annual Finance and Accounting for the Oil & Gas Industry course begins with a review of the financial issues facing the Oil & Gas Industry. The global oil and gas industry is undergoing a fundamental structural change. As of January 2020, energy companies account for just 4% of the S&P500.