GLOSSARY

Barrel (bbl) - 1 Barrel (or stock tank barrel)
a unit of measurement commonly used in quoting liquid hydrocarbon volumes.
= 42 U.S Gallons
= 35 Imperial Gallons (approx)
= 159 Litres (approx)

Bcf
Billion Cubic Feet, (equivalent to 28.317 million cubic metres). A unit commonly used in quoting volumes of natural gas (1m3 = 35.3147 cubic feet).

Condensate
A hydrocarbon phase which separates out from natural gas and condenses into liquids when the hydrocarbons are produced.

Exploration Well
A well drilled into a previously undrilled or non-commercial trap to test for the presence of a new hydrocarbon accumulation.

Fault
Any brittle feature of rock layers along which rocks are displaced on one side relative to the other.

Field
A subsurface accumulation of hydrocarbons.

Hydrocarbons
A compound of the elements hydrogen and carbon, in either liquid or gaseous form. Natural gas and petroleum are mixtures of hydrocarbons.

Mature
Used in association with source rock. A description applied to organic rich rock which is capable, because of sufficient temperature and burial depth, or generating hydrocarbons.

Mcf
thousand cubic feet of gas.

MMbbls
Million stock tank barrels (also MMstb).

MMcf/d
Million cubic feet of gas per day. A measure of gas flow rates from a producing well.

Oil
Liquid hydrocarbons, generally more viscous and darker in colour than condensates.

Oil field
A subsurface accumulation of hydrocarbons.

STOOIP Stock tank oil originally in place. The volume of oil held in a reservoir in the subsurface. Not all of this can be recovered.

Prospect An Undrilled or poorly understood, and therefore hypothetical, hydrocarbon trap.

Potentially Recoverable Hydrocarbons
The volume of hydrocarbons that are estimated to be producible from a given trap. Used in the context of a prospect or an undeveloped hydrocarbon accumulation.

Reserves
Includes SPE definition for reserves and resources.

Reservoir
A porous rock unit which hydrocarbons occur in an oil field.

Risk
A measure of uncertainty relating to the likelihood of finding hydrocarbons, or, the likelihood that nay or all of the individual geological elements required for the accumulation of hydrocarbons is met.

Seismic Survey
A tool employing an energy source, such as dynamite, and recording devices used to measure the travel time from a rock layer to the surface. The primary tool used to detect hydrocarbon traps.

Show
An indication while drilling that hydrocarbons are present in the well.

smc
Cubic metre of gas equal to 35.3 cubic feet.

Structural Trap
Generally, a hydrocarbon trap formed by dipping rock layers and/or faults.

Structure
A geological feature usually higher in elevation that the surrounding rock, formed by local deformation of the rock layers.

Tcf
Trillion cubic feet of gas.

Trap
A structure capable of retaining hydrocarbons.

Trend
A particular direction in which similar geological features are repeated.