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Glossary of Industry Terms

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Edmonton Par Price

A reference price for Canadian crude oil.

 

Electric Well Log

A record of the electrical characteristics, primarily resistence to conduct electricity, of formations that have been drilled. Crude oil and natural gas are more electrically resistive than water. As a result, rock with pores that are filled with oil and gas, registers a higher resistivity. Electric logs are used to identify formations, determine the nature and amount of fluids they contain, and estimate their depth.

 

Enhanced Oil Recovery ( EOR )

Any method that increases oil production by using techniques or materials outside of those used for normal pressure maintenance or water flooding operations. For example, natural gas or carbon dioxide is often injected into a reservoir to "enhance" or increase oil production.

Environmental Assessments

A planning and decision-making tool used by the industry and its regulators to identify the environmental impacts, mitigation required and the associated costs for proposed energy projects.

 

Established Reserves

Generally defined as proved reserves plus one half of probable reserves.

 

Ethane

A component of natural gas consisting of two carbon atoms and six hydrogen atoms which condenses into a liquid at a relatively low temperature and pressure.

Exploration

The act of looking for potential reservoirs of gas or oil. Methods include the use of gravity meters,  magnetometers, seismic survey, surface mapping, and exploratory drilling.

 

Exploratory Well

A well drilled to search for a new, undiscovered accumulation of oil and gas or to significantly extend the limits of a known source.

 

Extraction Loss

The reduction in volume of natural gas resulting from the removal of the natural gas liquid constituents at the processing plant.