Technical Glossary

Commonly Used Abreviations
acre approximately 4,047 square meters
bbl one stock tank barrel, equivalent to 0.15898761 m3
boe barrels of oil equivalent, equivalent to 158.98731 m3 of natural gas, determined using the ratio of 5,614.6 cubic feet of natural gas to one barrel of crude oil
Btu British thermal unit or the quantity of heat required to raise the temperature of one pound of water by one Fahrenheit degree, equivalent to 0.00095755 cubic feet with a caloric content of 9,300 Kcal/m3
/d per day
Hp one horsepower
Km one kilometer
km2 one square kilometer
m3 one cubic meter
mbgl one meter below ground level
Mbbl one thousand bbl
Mboe one thousand boe
Mbtu one thousand Btu
Mm3 one thousand m3
MMbbl one million bbl
Mmboe one million boe
MMBtu one million Btu
MMm3 one million m3

Developed acreage. The number of acres that are allocated or assignable to productive wells or wells capable of production.
Development well. A well drilled into a proved area of a natural gas or oil reservoir to the depth of a stratigraphic horizon known to be productive.
Dry hole. A well found to be incapable of producing hydrocarbons in sufficient quantities such that proceeds from the sale of such production exceed production expenses and taxes.
Exploratory well. A well drilled to find a new field or to find a new reservoir in a field previously found to be productive of natural gas or oil in another reservoir.
Feet of pay. Footage penetrated by the drill bit into the target formation.
Gross acres or gross wells. The total acres or wells, as the case may be, in which the Company has a working interest.
Net acres or net wells. The sum of the fractional working interests owned by the Company in gross acres or wells, as the case may be.
NGLs. Natural gas liquids. Those hydrocarbons in natural gas that are separated from the gas as liquids through the process of absorption, condensation, absorption or other methods in gas-processing plants. Natural gas liquids include primarily propane, butane, and iso-butane.
Play. A proven geological formation that contains commercial amounts of hydrocarbons.
Proved developed reserves (PDP). Proved reserves that can be expected to be recovered through existing wells with existing equipment and operating methods.
Proved reserves. The estimated quantities of oil, natural gas and NGLs which geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions.
Proved undeveloped reserves (PUD). Proved reserves that are expected with resonable certainty to be recovered from new wells on undrilled acreage or from existing wells where a relatively major expenditure is required for recompletion.
Reservoir. A porous and permeable underground formation containing a natural accumulation of producible natural gas and/or oil that is confined by impermeable rock or water barriers and is separate from other reservoirs.
Throughput. The volume of natural gas transported or passing through a pipeline, plant, terminal, or other facility during a particular period.
Undeveloped acreage. Lease acreage on which wells have not been drilled or completed to a point that would permit the production of commercial quantities of natural gas and oil regardless of whether such acreage contains proved reserves.
Working gas. The volume of natural gas in the storage reservoir that can be extracted during the normal operation of the storage facility.
Working interest. An interest that gives the owner the right to drill, produce and conduct operating activities on the property and receive a share of any production.