Oil and Gas Glossary


APD’s - Applications for permit to drill

BBO - Billions of barrels of oil

BCFe - Billions of cubic feet equivalent

BCFGe - Billions of cubic feet of gas equivalent

BOEe/d - Barrel of oil equivalent per day

C - Canadian dollar

CAPEX - Capital expenditure

casing - steel pipe placed in an oil or gas well to prevent the wallf of the hole from caving in, to prevent movement of fluids from one formation to another and to aid in well control.

DTC - Drill to completion

E&P - Exploration and production

FYE - Fiscal year ending

E&D - Exploration and development

location - the place where a well is drilled. Also called well site.

log - a systematic recording of data, such as a driller’s log, mud log, electrical well log, or radioactivity log. Many different logs are run in wells to discern various characteristics of downhole formation. To record data.

Mmcf - Millions of cubic feet

operator - the person or company, either proprietor or lessee, actually operating a well or lease, generally the oil or gas company that engages the drilling, service, and workover contractors.

packer - a piece of downhole equipment that consists of a sealing device, a holding or setting device, and an inside passage for fluids.

plug - any object or device that blocks a hole or passageway (such as a cement plug in a borehole).

production casing - the last string of casing set in a well, inside of which is usually suspended a tubing string.

TCF - Trillions of cubic feet

TCFe - Trillions of cubic feet equivalent

TSX - Toronto Stock Exchange

WI - Working interest

2P - Proven and probable