One barrel of crude oil, condensate or other liquid hydrocarbons equal to 42 United States gallons.

One billion cubic feet of natural gas.

Barrel of oil equivalent, determined using the ratio of six Mcf of natural gas to one Bbl of crude oil, condensate or natural gas liquids.

An oil and natural gas well that produces oil and gas in sufficient quantities such that proceeds from the sale of such production exceed related costs directly associated with such production and tax [..]

The installation of permanent equipment for the production of oil and gas, or in the case of a dry hole, the reporting of abandonment to the appropriate agency.

A well drilled within the presently proven productive area of an oil and natural gas reservoir as indicated by reasonable interpretation of available data, with the objective of completing in that res [..]

The development of a petroleum reservoir. See "Development Well".

A well drilled to find and produce oil or natural gas reserves not classified as proved, to find a new reservoir in a field previously found to be productive of oil or natural gas in another reservoir [..]

An arrangement whereby one oil operator buys in or acquires an interest in a lease or concession owned by another operator on which oil or natural gas has been discovered or is being produced. Often f [..]

An area consisting of a single reservoir or multiple reservoirs all grouped on or related to the same individual geological structural feature and/or stratigraphic condition.