An Operating Agreement (OA) in the oil and gas industry is a contract between co-owners of a project or lease that outlines operational responsibilities, cost...
Category - Oil and Gas Glossary
Offshore drilling involves extracting oil and gas from beneath the ocean floor using platforms or rigs. In the oil and gas industry, this method accesses...
Net Revenue Interest (NRI) is the percentage of production income an oil and gas leaseholder receives after deducting royalty payments and other obligations...
Net Present Value (NPV) is a financial metric used to evaluate the profitability of an investment. In the oil and gas industry, NPV calculates the present...
The net pay zone is the portion of a reservoir containing economically recoverable hydrocarbons. In the oil and gas industry, it is calculated by evaluating...
Net Asset Value (NAV) represents the total value of an entity’s assets minus its liabilities. In the oil and gas industry, NAV is used to evaluate the...
Natural Gas Liquids (NGLs) are hydrocarbon components of natural gas extracted during processing. Common NGLs include ethane, propane, butane, and natural...
A minimum investment is the smallest amount of capital required to participate in an investment opportunity. In the oil and gas industry, this can apply to...
Mineral rights are the legal ownership of underground resources, such as oil, gas, and minerals, separate from surface property rights. In the oil and gas...
Migration in the oil and gas industry refers to the movement of hydrocarbons from their source rock to reservoir rock due to pressure, buoyancy, and...