Lexicon of Terms

Learn how to talk like an Oilman
417 Oil & Gas and related investment terms defined.
Bridle — The cable link between the "horsehead" and the pump rod on a pumping unit.

Basement rock — Igneous or metamorphic rock lying below sedimentary formations in the earth's crust. Basement rock does not contain petroleum deposits.

BS&W — (basic sediment and water) Material pumped up with oil and gas which must be separated out.

Bleeding core — A core sample of rock so highly permeable and saturated that oil drips from it.

Butane — A hydrocarbon associated with petroleum. It is gaseous at ordinary atmospheric conditions.

Barrel Standard — Unit of measurement in the petroleum industry. One barrel of oil equals 42 U.S. gallons.

Blowout — A sudden escape of oil or gas from a well, caused by uncontrolled high pressure. It usually occurs during drilling.

Btu (British thermal unit) — A standard measure of heat content in a fuel. One Btu equals the amount of energy required to raise the temperature of one pound of water one degree Fahrenheit at or near 39.2 degrees Fahrenheit.

Back-in — A type of interest in a well or property that becomes effective at a specified time in the future, or on the occurrence of a specified future event.

Bonus Money — paid to a landowner or other holder of mineral rights by the lessee for the execution of an oil and gas lease in addition to any rental or royalty obligations specified in the lease.

BOP (blowout preventer) — An assembly of heavy-duty valves attached to the top of a well casing to control pressure.

Bottom-hole pump — A compact, high-volume pump located in the bottom of a well, not operated by sucker rods or a surface power unit.

Blue Sky Law — State regulations governing an offering to sell securities within the state.

BCF (billion cubic feet) — The cubic foot is a standard unit of measure for gas at atmospheric pressure.

Biomass — Any organic material, such as wood, plants, and organic wastes, that can be turned into fuel.

Basin — A depression in the earth's crust in which sedimentary materials have accumulated. Such a basin may contain oil or gas fields.

Blowout insurance — An insurance policy that protects the insured party (working interest owner) from liabilities which might arise from a blowout during the drilling, completion, or production of a well.

Bottom-hole pressure — The pressure of the reservoir or formation at the bottom of the hole. A decline in pressure indicates some depletion of the reservoir.

Blind pool — Refers to an oil and gas limited partnership which has not committed to specific prospects, leases, or properties at the time of capital formation.

Behind pipe — If a well drills through several pay zones and is completed in the deepest productive reservoir, casing is set all the way down to the producing zone. Viewed from (a perspective) inside the borehole, reserves in the shallower pay zones up the hole are behind the casing.


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