The sum of all produced volumes of oil and gas prior to a specified point in time.

Definition

A seismic survey where a line of geophones captures enough information to generate a two-dimensional (height and length) image of the Earth's subsurface directly below it.

A seismic survey where a three-dimensional image of the subsurface can be developed by combining numerous energy sources and multiple lines of geophones; the image consists of height, length, and side to side information that gives better resolution to the subsurface.

An upfold or arch of stratified rock in which the beds or layers bend downward in opposite directions from the crest or axis of the fold.

That part of the planning area which has the primary geologic characteristics favorable for the generation and the accumulations of hydrocarbons.

An offer for an OCS lease submitted by a potential lessee in the form of a cash bonus dollar amount or other commitments, as specified in the final notice of sale.

A combination of terms and conditions under which a bid is submitted. The economic terms include, but are not necessarily limited to: (1) the minimum bid per acre, (2) the yearly rental, (3) the minimum royalty; and (4) the royalty or profit share rates imposed on future production from those tracts leased. See "royalty."

All unleased Federal portions of two or more blocks, whose combined acreage is 5,760 acres or less, which is offered in a specific lease sale as a single leasable entity. See "tract."

A geographical area of approximately 9 square miles (5,760 acres), which is used in official BOEM protraction diagrams or leasing maps. See "tract."