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Glossary of Industry Terms

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Unconventional Natural Gas

For natural gas from coal, natural gas from tight sands and shale gas, it is conventional gas found in unconventional reservoirs or reservoirs requiring special production methods or technologies. For gas hydrates, it is conventional methane in an unconventional form occurring in a conventional reservoir.

 

Underbalanced Drilling

Drilling where the hydrostatic pressure of the fluids in the wellbore is lower than the reservoir pressure; commonly used in tight reservoirs to avoid reservoir damage.

Unitization

Process whereby owners of adjoining properties pool their reserves into a single operations unit operated by one of the owners. The production is divided among the owners according to an unitization agreement.

 

Upgraded Crude Oil

A blend of hydrocarbons similar to light crude oil produced by processing bitumen or heavy oil at a facility called an upgrader. Also called synthetic crude oil.

Upgrading

The process of converting heavy oil or bitumen into synthetic crude oil.

 

Upstream

Relating to the exploration and production sector of the petroleum industry.

 

Upstream Oil and Gas Industry

Refers to companies that explore for, develop and produce petroleum resources ( in contrast, downstream refers to the refining and marketing components of the industry ).