Drilling of an exploration well whose path is not planned to be drilled vertically.
Production or test production well used to measure specific well parameters.
Collective term for crude oil and other liquid petroleum products.
Used to sum up oil, gas, NGL and condensate resource volumes. This estimate will not be exact, but can be carried out using one property as the basis. Energy, mass, volume or value are possible approaches. The Norwegian Petroleum Directorate uses a volumetric conversion of NGL and oil to liquid and a simplified energy-based conversion factor between gas and liquid. The relevant conversion factors are: 1000 Sm3 gas corresponds to 1 Sm3 o.e. 1 Sm3 oil corresponds to 1 Sm3 o.e. 1 tonne NGL corresponds to 1.9 Sm3 o.e.
The agent who, on behalf of the licensee, is in charge of the day-to-day management of the petroleum activity.
The total, saleable volumes of petroleum from the start to the end of production, based on the prevailing estimate of the in-place volumes and the recovery factor.