Glossary
Capital Expenditure (CAPEX)
Amount spent to acquire or improve the capacity or capabilities of a long-term asset such as equipment, buildings or land resource. For example: the amount of money a developer pays to purchase solar panels or lease a property would be considered a Capital Expenditure (Capex).
Due Diligence
Allows a buyer to undertake searches and research a property’s ownership chain of title to determine if the title is marketable and non-encumbered. Due Diligence periods have a set period of time and buyers have the opportunity to terminate the contract as a result of receiving any adverse results.
Landman
Professional landmen interact and negotiate directly with landowners to purchase or lease the surface or mineral rights on behalf of a development company. Generally Landmen work in the Solar, Wind and the Oil and Gas industries.
Lease
Contract by which one party conveys land or resource rights to another for a specified time, usually in return for a periodic payment. Different types of land and mineral resources can be leased for example one can lease solar, wind, water, mineral rights, etc.
Lease Bonus
The cash consideration that is paid by the lessee for the execution of an oil and gas lease by a landowner. It is usually based on a per acre payment.
Lease Option
Contract by which one party agrees to grant the exclusive option to execute a pre-negotiated lease agreement for a certain amount of time. The pre-negotiated lease agreement outlines the lease royalty, bonus and primary term a property would be subject to if the option is executed. The Lease Option expires worthless if not executed on time. Lease Options will commonly be offered to landowners with an upfront bonus cash payment.
Lessee
Person who holds the lease of a property; the lessee owns the right to operate on and develop a property or resource owned by the lessor
Lessor
Person who leases or grants operating rights of a property to another
Operations & Maintenance Expenditure (OPEX)
An Expense that an asset incurs during its normal operations. Often abbreviated as OPEX. Expenses that are required to maintain and operate an asset.
Purchase Sale Agreement (PSA)
An agreement between a buyer and a seller of property, company stock, or other assets.
Royalties
Interest retained from the output of a property when the owner enters into a lease agreement. Royalty interest entitles the property owner to receive a portion of the production or a portion of the gross revenue from sold production.
Working Interest
Represents the portion of capital expenditure an asset owner is responsible to pay to fund development or maintenance projects.
AWEA
The American Wind Energy Association
Cut-in speed
The minimum wind speed at which the turbine begins to rotate and produce power.
Cut-out speed
The maximum wind speed at which the turbine can sustain power production. Wind speeds in excess of the cut-out speed will result in a controlled or emergency shutdown
Power Curve
Shows how much power a wind turbine produces over a given set of wind speeds. When matched with a wind distribution (which describes how many hours the wind blows at each speed per year at that location), can be used to estimate how much energy will be produced by the turbine annually.
Rated output speed
The wind speed at which a wind turbine begins to generate electricity at the rated output or nameplate capacity.
Rotor Diameter
The diameter of the circle swept-out by the tips of the turbine's blades.
Shut Down Wind Speed
The maximum wind speed at which a particular turbine can generate electricity. With higher wind speeds the turbine must be shut-down to avoid damage.
Swept Area
The projected area perpendicular to the wind direction that a wind turbine rotor will describe during one complete rotation. The swept area limits the amount of wind intercepted by the turbine.
Wind
The movement of an air mass.
Wind Turbine
Generally refers to the structure that houses a wind energy converter, the device that converts the wind's kinetic energy into electrical energy. Converts the energy of moving air into electricity.
Wind Turbine Blade
Wind turbine blades are airfoil-shaped blades that harness wind energy and drive the rotor of a wind turbine. Turbine Blades can range in size from 50 - 100 meters in diameter.
Wind Turbine Rotor
The complete unit consisted of the blades and the hub of the wind turbine.
Wind farm
Collection of wind turbines with integrated operation that supply electricity, most often to the electrical grid, via at least one substation.
William Bach Collection
Webb Hall
Carbon Credit
A tradable commodity that represents one ton of carbon dioxide that has either been removed from the atmosphere, or has been avoided from being released into the atmosphere.
Carbon Registry
An organization that has created a series of standards and methodologies that govern the creation and use of carbon credits.
Reforestation
The practice of planting trees on land that was previously deforested.
Greenwashing
A deceptive marketing practice of conveying false information or misrepresentations about how a company’s products or services are environmentally friendly to attract environmentally conscious consumers.
Regenerative Agriculture
An approach to farming intended to restore the organic carbon of degraded soils to reduce climate impact and to improve the health of the soil.
Afforestation
The process of planting trees in an area where there were previously no trees.
Verified Carbon Credit
A verified carbon credit (also referred to as a verified carbon unit, or VCU) is a tradable certificate or permit that represents a reduction or removal of 1 metric ton of carbon dioxide from the atmosphere. They are ‘verified’ in the sense that they are independently assessed and certified by a third party. VCU’s provide a transparent and standardized way to incentive and finance carbon credit projects.
Harvest Deferral
A type of carbon credit agreement that involves postponing the timbering of trees in a forest to earn carbon credits.
Blue Carbon
Carbon captured by the world’s ocean and coastal ecosystems (ie; mangroves, marshes, seagrasses).
Biochar Carbon
A technique through which carbon from certain biomasses is transformed into stable carbon that can be captured in the soil, preventing the CO2 from entering the atmosphere.
AC Charger
Usually, people opt for Alternating Current (AC) charging to charge their electric vehicles during the night. AC charging operates at lower voltage levels, either at Level 1 (120 volts, which is standard household current) or Level 2 (240 volts, equivalent to the power used by an electric dryer). While the lower voltage results in a slower charging rate, AC charging is a convenient option for installation in most homes. It serves as an excellent solution for residential areas, workplaces, multi-unit housing complexes, and other locations where vehicles are parked for extended periods, such as hotels, municipal parking garages, or airport parking facilities.
Balanced Chargers
Balanced chargers are usually positioned adjacent to each other and share a power cabinet that can deliver a combined power capacity of up to 350 kW across both chargers.
In a Balanced configuration, a charger can offer Ultra-Fast charging speeds of up to 150 kW to vehicles equipped to handle such power. Moreover, when the neighboring charger remains unused, it can provide Hyper-Fast speeds of up to 350 kW to vehicles capable of accepting this higher power output.
EV Driver
An EV driver is an individual who operates an electric vehicle (EV) and utilizes charging facilities both at their residence, workplace, and at various public or private locations.
Charge Point Operator (CPO)
Charge point operators (CPOs) install, manage, and optimize charging stations, offering various services like diagnostics, maintenance, and pricing management to ensure a seamless network operation. They may either own the charging infrastructure or connect owners of EV charge points. CPOs can collaborate with roaming network hubs and provide eMSP services while enabling access to their charging stations by other eMSPs. Typically, CPOs partner with site owners to install chargers, collect operation fees, and potentially share revenue generated from EV charging.
Charge Point Installer (CPI)
Charge point installers typically sell, install, and maintain charging stations from various manufacturers for location owners, also known as charge point hosts. Their customer base encompasses residential, retail, business centers, real estate developers, hotel chains, car dealers, parking operators, energy, oil and gas companies, CPOs, government entities, and anyone who offers parking spaces. They handle hardware maintenance and support and are increasingly exploring the provision of EV charging software solutions for various applications, including home, workplace, and CPO services.
Distribution Network Operator (DNO)
A distribution network operator is a licensed company responsible for the distribution of electricity. These entities own and manage the network of cables and towers that transport electricity from the national transmission grid to households and commercial establishments.
DC Fast Charging
Direct current (DC) charging for electric vehicles offers faster charging speeds because DC can be delivered directly to the EV's battery at power levels typically higher than those of AC charging. The speed of charging depends on the level of DC power supplied, and a faster charge is possible if the EV is designed to handle such power. As you approach approximately 80% battery capacity during your charging session, the rate of charging will slow down to preserve the vehicle's battery life, although this exact point may vary depending on your EV model.
By 2019, it was anticipated that many vehicles would support 150kW+ DC fast charging.
To illustrate the difference in charging power between AC and DC fast charging, consider this: a Level 2, 7.2kW AC charger might take about one hour to provide roughly 27 miles of EV range, while a 50kW DC fast charger can deliver the same 27 miles of range in approximately 10 minutes.
Electro-mobility Service Provider (eMSP)
Electro-mobility Service Providers (eMSPs) offer EV charging services to electric vehicle drivers, granting access to a wide network of charging points in a specific region. They furnish crucial details such as charger locations, availability status, account management features, and payment options, prioritizing driver satisfaction and loyalty. eMSPs cater to both registered and unregistered customers, as per local regulations. Additionally, eMSPs offer Charge Point Operator (CPO) services, granting access to their own charging stations and third-party stations through direct or indirect roaming agreements.
Electric Vehicle Fleet Operator
The role of the EV Fleet Operator involves overseeing and directing the charging of an electric vehicle (EV) fleet. The primary challenge in electro-mobility is to maximize vehicle availability and usage, taking into account optimal charging times and cost efficiency. Prioritization of EV fleet charging is determined by the fleet's operational needs and the current state of each vehicle's battery.
Level 1 Charging
This involves using a standard household outlet, providing 120V output and a current between 8 and 20 amps. Level 1 charging can take as long as 24 hours to completely charge an empty electric vehicle (EV) battery.
Level 2 Charging
The majority of charging stations fall into the Level 2 category, offering 240V output with a capacity of up to 80 amps. It typically takes approximately 4 hours to fully charge an empty battery using Level 2 charging.
Level 3 Charging
Often referred to as Fast Charging, Level 3 chargers employ DC (Direct Current) to rapidly charge depleted batteries in as little as 30 minutes. Level 3 charging systems can deliver up to 900V and over 100 amps. All Tesla Superchargers are Level 3 chargers.
Incident Light
Light that shines directly onto the face of a solar cell or module.
Irradiance
The direct, diffuse, and reflected solar radiation that strikes a surface. Usually expressed in kilowatts per square meter. Irradiance multiplied by time equals insolation.
Panel Area
The surface area a solar panel occupies when laying flat on the ground.
Panel Efficiency
Represents how well a solar panel converts sunlight into electricity. Most solar panels have 14 to 16 percent efficiency; high-efficiency panels are rated just above 20 percent. Also known as Photovoltaic (PV) Efficiency.
Peak Sun Hours
The equivalent number of hours per day when solar irradiance averages 1,000 w/m2. For example, six peak sun hours means that the energy received during total daylight hours equals the energy that would have been received had the irradiance for six hours been 1,000 w/m2.
Peak Watt
Unit used to rate the performance of solar cells, modules, or arrays; the maximum nominal output of a photovoltaic device, in watts (Wp) under standardized test conditions.
Photovoltaic (PV) Array
Interconnected system of solar panels that function as a single electricity-producing unit. The panels are assembled as a discrete structure, with common support or mounting. In smaller systems, an array can consist of a single module.
Photovoltaic (PV) Cell
The smallest semiconductor element within a PV module to perform the immediate conversion of light into electrical energy (direct current voltage and current). Also known as Solar Cells. Different types of solar cells include: Monocrystalline Solar Panels, Polycrystalline Solar Panels and Thin-Film Solar Cells.
Photovoltaic (PV) System
The complete set of components for converting sunlight into electricity by the photovoltaic process, including the array and balance of system components.
Photovoltaic(s) (PV)
Pertains to the direct conversion of light into electricity. The technology is commonly referred to as Solar PV.
Racking
Mounting system used to affix solar panels to the roof, building surface, or ground. Racking systems can be made from a variety of materials graded for different structural needs and different technologies such as fixed & tracking systems.
SEIA
Solar Energy Industries Association
Solar Panel
The term solar panel is used interchangeably with photo-voltaic modules. A PV module is an assembly of photo-voltaic cells mounted in a framework for installation.
Solar Renewable Energy Credit (SREC)
Solar Renewable Energy Credits (SRECs) represent the environmental attributes of electricity generated through solar energy. One SREC is issued for every 1 megawatt-hour (MWh) of electricity produced by a qualifying solar generator. Renewable Portfolio Standards (RPS) in certain States include a special solar “carve-out” provision, which mandates utilities to achieve a certain amount of electric generation through solar energy.
Solar Resource
Generally refers to the amount of energy a land parcel receives or the amount of solar insolation a site receives, usually measured in kWh/m2/day, which is equivalent to the number of peak sun hours.
Standard Test Conditions (STC) Power Rating
Represents the published power rating of a solar panel. STC is an acronym for Factory Standard Test Conditions, which is 1,000 watts per square meter solar irradiance, 1.5 Air Mass and a 25 degrees C. cell temperature. Measured in terms of direct current (DC)
Tracking Array
Array that follows the path of the sun to maximize the solar radiation incident on the PV surface. Two-axis tracking arrays capture the maximum possible daily energy.
Dec 2023
Battery storage
Also referred to as battery energy storage systems (BESS), ‘battery storage’ refers to the use of rechargeable batteries to store electrical renewable energy for later use.
Capacity
The amount of energy a battery or ESS can store (expressed in units of kilowatt-hours).
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Cycle
One sequence of battery charge and discharge.
Depth of Discharge (DoD)
DoD refers to the percentage of a battery’s capacity that has been used. Some types of batteries can only be drained of a certain percentage of their stored energy safely - going beyond that point shortens the life of the battery. The DoD is the metric for this safe drainage percentage.
Discharge
The act of removing energy from a battery or storage system to provide electricity or other grid services as needed.
Energy Management System (EMS)
A computer control system that monitors the real-time performance of an electric system and to control the generation and transmission facilities.
Loads
Electrical devices that require electrical energy to operate (such as a lightbulb or an outlet).
Load Shifting
The practice of adjusting the timing of energy consumption to match periods of lower demand or lower prices, often using energy storage systems to help balance the electrical grid.
Relative Capacity
Also referred to as ‘useful capacity,’ this term refers to how much energy is available to be used when a battery is fully charged. For example, a 4 kWh battery with 75% DoD effectively only has 3 kWh of energy available for use when fully charged.
Surge
A load’s startup current of electricity. In some cases, more power is required to ‘start’ the load than to operate the load, which is described as surge power.
API County Code
An indicator developed by the American Petroleum Institute (API) to identify areas such as counties and other subdivision areas identified within state boundaries. Defined by API Bulletin D12A, as amended. This code becomes a part of the API Well Number.
API State Code
The indicator assigned to a state, as defined in API Bulletin D12A, as amended. This code is a part of the API Well Number (The API State Code for Colorado is 05).
API Well Number
A well identifier assigned as defined in API (American Petroleum Institute) Bulletin D12A, as amended. The API Well Numbers are assigned by the appropriate state or federal regulatory agency.
Abandon
(1) The proper plugging and abandoning of a well in compliance with all applicable regulations, and the cleaning up of the wellsite to the satisfaction of any governmental body having jurisdiction with respect thereto and to the reasonable satisfaction of the operator.(2) To cease efforts to find or produce from a well or field.(3) To plug a well completion and salvage material and equipment.
Abatement
(1) The act or process of reducing the intensity of pollution.(2) The use of some method of abating pollution.
American Petroleum Institute (API)
The American Petroleum Institute is the primary trade association representing the oil and natural gas industry in the United States.
Annulus
The space between: (1) The casing and the wall of the borehole.(2) Two strings of casing.(3) Tubing and casing.
Anticline
An arch of stratified rock layers that may form a trap for hydrocarbons.
Appraisal Well
A well drilled as part of an appraisal drilling program which is carried out to determine the physical extent, reserves and likely production rate of a field.
Aquifer
An underground layer of water-bearing permeable rock or unconsolidated materials (gravel, sand, silt or clay) from which groundwater can be extracted using a water well.
Associated Gas
A well drilled as part of an appraisal drilling program which is carried out to determine the physical extent, reserves and likely production rate of a field.
BBL
An oil barrel, abbreviated as BBL, is a volume unit used in reference to crude oil, bitumen, condensate, or natural gas liquids. In the United States and Canada, one BBL equals 42 US gallons.
BCF
One billion cubic feet of natural gas.
BOED
Barrels of oil equivalent per day.
BOP
See blow-out preventers
Barrel (Bbl)
A unit of volume measurement used for petroleum and its products (7.3 barrels = 1 ton: 6.29 barrels = 1 cubic meter).
Barrel of oil equivalent (BOE)
A measure used to aggregate oil and gas resources or production. One BOE equals approximately 6,000 cubic feet of natural gas, and the unit is used by oil and gas companies in their financial statements as a way of combining oil and natural gas reserves and production into a single measure
Basin
A large depression in the Earth’s surface in which sediments accumulate usually by way of some water course.
Bitumen
A highly viscous or semi-solid form of crude oil that must be heated or combined with lighter hydrocarbons to be produced.
Blow-down
Condensate and gas is produced simultaneously from the outset of production.
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Blow-out
When well pressure exceeds the ability of the wellhead valves to control it. Oil and gas 'blow wild' at the surface.
Blow-out preventers (BOPs)
Are high pressure wellhead valves, designed to shut off the uncontrolled flow of hydrocarbons.
Borehole
A hole drilled in the earth in furtherance of oil and gas exploration. The hole as drilled by the drill bit.
Bradenhead
A casinghead
Bradenhead Test
Casing Pipe cemented in the well to seal off formation fluids or keep the hole from caving in.
British thermal unit (BTU)
The heat required to raise the temperature of a one-pound mass of water by one degree Fahrenheit.
CAPEX
Capital expenditures.
COGCC
Colorado Oil and Gas Conservation Commission
COGIS
Colorado Oil and Gas Information Systems
Carbon capture and storage (CCS)
A process by which carbon dioxide emissions are captured and removed from the atmosphere and then stored, usually by way of an injection into a secure underground geological formation.
Carbon intensity
The quantity of greenhouse gas emissions associated with producing a substance. For purposes of oil and gas, carbon intensity is commonly expressed in units of Tonnes CO2e per product volume (e.g., Tonnes CO2e/bbl or Tonnes CO2e/MCF).
Casing
A thick-walled steel pipe run in wells to isolate formation fluids (such as fresh water) and to prevent borehole collapse.
Casing string
The steel tubing that lines a well after it has been drilled. It is formed from sections of steel tube screwed together.
Casinghead
An adapter (metal flange) installed onto the top of the first casing string and forms part of the wellhead system for the well. This is the primary interface for the surface pressure control equipment (e.g., blowout preventer) during drilling or the wellhead after completion.
Central estimate
A range of exploration drilling scenarios from which the following activity levels, based on recent historical experience, are adopted as the central estimates.
Christmas tree
The assembly of fittings and valves on the top of the casing which control the production rate of oil.
Coal bed methane (CBM)
A natural gas extracted from coal beds.
Commercial field
An oil and/or gas field judged to be capable of producing enough net income to make it worth developing.
Completion
The installation of permanent wellhead equipment for the production of oil and gas.
Compound annual growth rate (CAGR)
The average year-over-year growth rate of a metric over a specific period of time.
Condensate
Hydrocarbons which are in the gaseous state under reservoir conditions and which become liquid when temperature or pressure is reduced. A mixture of pentanes and higher hydrocarbons.
Conventional resources
Discrete accumulations of hydrocarbons contained in rocks with relatively high matrix permeability, which normally have relatively high recovery factors.
Coring
Taking rock samples from a well by means of a special tool a 'core barrel'.
Crude Oil
Liquid petroleum as it comes out of the ground as distinguished from refined oils manufactured out of it.
Cubic foot
A standard unit used to measure quantity of gas (at atmospheric pressure); 1 cubic foot = 0.0283 cubic meters.
Cuttings
Rock chips cut from the formation by the drill bit, and brought to the surface with the mud. Used by geologists to obtain formation data.
Deepen
To increase the distance below a specified reference datum.
Derrick
The tower-like structure that houses most of the drilling controls.
Development phase
The phase in which a proven oil or gas field is brought into production by drilling production (development) wells.
Directional drilling
The practice of drilling non-vertical wells. Directional drilling can allow access to otherwise inaccessible oil and gas fields (e.g., under a lake, under a town) or allow multiple wellheads to be grouped together at one surface location.
Drilling
The use of a rig and crew for the drilling, suspension, completion, production testing, capping, plugging and abandoning, deepening, plugging back, sidetracking, redrilling or reconditioning of a well (except routine cleanout and pump or rod pulling operations) or the converting of a well to a source, injection, observation, or producing well, and including stratigraphic tests. Also includes any related environmental studies. Associated costs include completion costs but do not include equipping costs.
Drilling rig
A drilling unit that is not permanently fixed to the seabed, e.g. a drillship, a semi-submersible or a jack-up unit. Also means the derrick and its associated machinery.
Dry gas
Natural gas with no liquid; almost pure methane.
Dry hole
A well incapable of economically producing oil or gas.
E&P
Exploration and Production.
Enhanced oil recovery
A process whereby oil is recovered other than by the natural pressure in a reservoir.
Exploration drilling
Drilling carried out to determine whether hydrocarbons are present in a particular area or structure.
Exploration phase
The phase of operations which covers the search for oil or gas by carrying out detailed geological and geophysical surveys followed up where appropriate by exploratory drilling
Exploration well
A well drilled in an unproven area. Also known as a 'wildcat well'.
Exploratory well
A well drilled to find a new field or a new reservoir in a field previously found to be productive of oil or gas in another reservoir
Farm in
When a company acquires an interest in a block by taking over all or part of the financial commitment for drilling an exploration well.
Field
A geographical area under which an oil or gas reservoir lies.
Fishing
Retrieving objects from the borehole, such as a broken drillstring, or tools.
Formation pressure
The pressure at the bottom of a well when it is shut in at the wellhead.
Formation water
Salt water underlying gas and oil in the formation.
Fracking
See “Hydraulic fracturing.”
Fracking fluid
A mixture of water, sand, and chemicals used in hydraulic fracturing.
Fracturing
A method of breaking down a formation by pumping fluid at very high pressures. The objective is to increase production rates from a reservoir.
Gas field
A field containing natural gas but no oil.
Gas injection
The process whereby separated associated gas is pumped back into a reservoir for conservation purposes or to maintain the reservoir pressure.
Gas/oil ratio
The volume of gas at atmospheric pressure produced per unit of oil produced.
Geographic Info Systems(GIS)
A computer system capable of assembling, storing, manipulating, and displaying geographically referenced information.
Horizontal drilling
The practice of drilling horizontal wells. A type of directional drilling.
Hydraulic fracturing
The fracturing of rock by a pressurized liquid. Typically, fracking fluid is injected at high pressure into a wellbore to create small fractures, which allow fluids like natural gas, petroleum, uranium-bearing solution, and brine water to migrate to the well. Grains of proppant (sand or aluminum oxide) hold these fractures open.
Hydrocarbon
A compound containing only the elements hydrogen and carbon. May exist as a solid, a liquid or a gas. The term is mainly used in a catch-all sense for oil, gas and condensate.
Injection well
A well used for pumping water or gas into the reservoir.
Joint operating agreement
An agreement among working interest owners about how a well is to be operated.
Kick
A well is said to 'kick' if the formation pressure exceeds the pressure exerted by the mud column.
Landman
An individual who negotiates oil and gas leases with mineral owners.
Liquefied natural gas (LNG)
Oilfield or naturally occurring gas, chiefly methane, liquefied for transportation.
Liquefied petroleum gas (LPG)
Light hydrocarbon material, gaseous at atmospheric temperature and pressure, held in the liquid state by pressure to facilitate storage, transport and handling. Commercial liquefied gas consists essentially of either propane or butane, or mixtures thereof.
MBD
One-thousand barrels per day.
MBOE
One-thousand barrels of oil equivalent.
MCF
One-thousand standard cubic feet of natural gas.
MIT
Mechanical Integrity Test
MMBBL
One-million barrels of crude oil, bitumen, condensate, or natural gas liquids.
MMBOE
One-million million barrels of oil equivalent.
MMBTU
One-million British thermal units.
MMCF
One-million standard cubic feet of natural gas.
MMCFD
Million of cubic feet per day (of gas).
MOU/MOA
MEMORANDUMS OF UNDERSTANDING/AGREEMENT
Mechanical Integrity Test
The act of setting a packer or retrievable bridge plug above the perforations in a wellbore and applying pressure to the annulus in order to ensure soundness of the casing.
Metric ton
Equivalent to 1000 kilos, 2204.61 lbs.; 7.5 barrels.
Mineral owner
The entity who owns the minerals under a tract of land, and the right to extract those minerals.
Mud
A mixture of base substance and additives used to lubricate the drill bit and to counteract the natural pressure of the formation.
NGLs
Natural gas liquids. Liquid hydrocarbons found in association with natural gas.
NGPA
SEE: Natural Gas Policy Act of 1978.
Natural Gas Policy Act Of 1978
Enacted on November 9, 1978 and became effective December 1, 1978. The Act has been amended, and it replaced or amended the Natural Gas Act. Refer to 15USC 3301-3432.
Natural gas
A hydrocarbon gas mixture consisting primarily of methane and found in porous rock formations. Gas, occurring naturally, and often found in association with crude petroleum.
Natural gas liquids (NGLs)
Hydrocarbons composed exclusively of carbon and hydrogen. NGLs are separated from natural gas in a gas-processing plant, and include ethane, propane, butane, isobutane, and pentane.
Non-operating interest
A working interest owner who is not the operator.
Oil in place
An estimated measure of the total amount of oil contained in a reservoir, and, as such, a higher figure than the estimated recoverable reserves of oil.
Oil sands
A geologic formation comprised of sand, clay, water, and bitumen, which is a highly viscous form of crude oil. Large oil sands are found in Canada, Kazakhstan, and Russia.
Operating interest
A working interest owner who is also the operator.
Operator
The entity responsible for managing a drilling project.
Payzone
Rock in which oil and gas are found in exploitable quantities.
Permeability
The measure of the ability of a material (such as rocks) to transmit fluids. High permeability means fluid passes through the rock easily.
Petroleum
A generic name for hydrocarbons, including crude oil, natural gas liquids, natural gas and their products.
Play
A group of oil or gas fields or prospects that have the same geologic elements.
Porosity
The measure of the ability of a material (such as rocks) to store fluids.
Possible reserves
Those reserves which at present cannot be regarded as ‘probable’ but are estimated to have a significant but less than 50% chance of being technically and economically producible.
Primary recovery
Recovery of oil or gas from a reservoir purely by using the natural pressure in the reservoir to force the oil or gas out.
Probable reserves
Those reserves which are not yet proven but which are estimated to have a better than 50% chance of being technically and economically producible.
Produced water
Water produced from oil or natural gas exploration or development activities.
Productive well
A well that is capable of producing oil or gas in sufficient quantities to justify commercial exploitation.
Proppant
A solid material, typically sand or aluminum oxide, added to fracking fluid in order to keep an induced hydraulic fracture open.
Proved developed reserves
Proved reserves that can be expected to be recovered using existing wells, equipment, and operating methods.
Proven field
An oil and/or gas field whose physical extent and estimated reserves have been determined.
Proven reserves
Those reserves which on the available evidence are virtually certain to be technically and economically producible (i.e. having a better than 90% chance of being produced).
Recomplete
An operation involving any of the following: (1) Deepening from one zone to another zone.(2) Completing well in an additional zone.(3) Plugging back from one zone to another zone.(4) Sidetracking to purposely change the location of the bottom of the well, but not including sidetracking for the sole purpose of bypassing obstructions in the borehole.(5) Conversion of a service well to an oil or gas well in a different zone.(6) Conversion of an oil or gas well to a service well in a different zone.
Recoverable reserves
That proportion of the oil and/gas in a reservoir that can be removed using currently available techniques.
Recovery factor
That proportion of the oil and/gas in a reservoir that can be removed using currently available techniques.
Reenter
To enter a previously abandoned well.
Reserves
An estimate of the amount of technologically and economically recoverable oil or gas.
Reservoir
A porous and permeable underground formation that contains producible oil or gas, is confined by impermeable rock or water barriers, and is separate from other reservoirs.
Roughneck
Drill crew members who work on the derrick floor, screwing together the sections of drill-pipe when running or pulling a drill-string.
Roustabout
Drill crew members who handle the loading and unloading of equipment and assist in general operations around the rig
Royalty payment
The cash or kind paid to the owner of mineral rights.
SI/TA
Shut In /Temporarily Abandoned
Secondary recovery
Recovery of oil or gas from a reservoir by artificially maintaining or enhancing the reservoir pressure by injecting gas, water or other substances into the reservoir rock.
Shale gas
Natural gas trapped in shale formations, and accessible by hydraulic fracturing and horizontal drilling.
Shut In Well
A well which is capable of producing but is not presently producing. Reasons for a well being shut in may be lack of equipment, market or other.
Shut-in royalty
A payment to royalty owners in lieu of actual production, under the terms of an oil and gas lease, when a well is shut-in due to lack of a market or a lack of facilities.
Shutdown
A production hiatus during which the platform ceases to produce while essential maintenance work is undertaken.
Sidetrack
A wellbore segment extending from a wellbore intersection along a wellbore path to a different wellbore bottomhole from any previously existing wellbore bottomholes.
Sidetracking
The well activity of drilling a new wellbore segment from a wellbore intersection to a new wellbore bottomhole or target.
Sour gas
Natural gas that contains significant amounts of hydrogen sulfide.
Spud-in
The operation of drilling the first part of a new well.
Surface Location
The location of a well or facility/measurement point.
Surface Reclamation
A restoration of the surface as for productivity or usefulness. A well that has been capped off temporarily.
Sweet gas
Natural gas that does not contain significant amounts of hydrogen sulfide.
TCF
One-trillion cubic feet of natural gas.
Temporarily Abandoned
The act of isolating the completed interval or intervals within a wellbore from the surface by means of a cement retainer, cast iron bridge plug, cement plug, tubing and packer with tubing plug, or any combination thereof.
Tight gas
Natural gas produced from reservoir rocks with such low permeability that massive hydraulic fracturing is necessary to produce the well at economic rates. Although shales have low permeability and low effective porosity, shale gas is usually considered separate from tight gas, which is contained most commonly in sandstone, but sometimes in limestone.
Toolpusher
Second-in-command of a drilling crew under the drilling superintendent. Responsible for the day-to-day running of the rig and for ensuring that all the necessary equipment is available.
Unconventional reservoirs
Hydrocarbon reservoirs that have low permeability and porosity and are difficult to produce. Examples include tight gas, coalbed methane (CBM), shale gas, shale oil, heavy oil/tar sands, and methane hydrates.
Underground Injection Control
A program required in each state by a provision of the Safe Drinking Water Act (SDWA) for the regulation of Injection Wells, including a permit system. An applicant must demonstrate that the well has no reasonable chance of adversely affecting the quality of an underground source of drinking water before a permit is issued.
Unleased mineral interest
A mineral interest not subject to a lease.
Well log
A record of geological formation penetrated during drilling, including technical details of the operation.
Wellbore
A hole that is drilled to aid in the exploration and recovery of natural resources. A wellbore is the actual hole that forms the well.
Wellhead
The component at the surface of an oil or gas well that provides the interface for the drilling and production equipment.
Wet gas
Natural gas with a small amount of liquid, such as ethane and butane. See “Natural gas liquids (NGLs).”
Wildcat well
A well drilled in an unproven area. Also known as an 'exploration well'. [The term comes from exploration wells in West Texas in the 1920s. Wildcats were abundant in the locality, and those unlucky enough to be shot were hung from oil derricks.]
Working interest
The right to explore for, produce, and own oil, gas, or other minerals.
Workover
Remedial work to the equipment within a well, the well pipework, or relating to attempts to increase the rate of flow.
Aquifer
A geologic formation(s) that is water bearing. A geological formation or structure that stores and/or transmits water, such as to wells and springs. Use of the term is usually restricted to those water-bearing formations capable of yielding water in sufficient quantity to constitute a usable supply for people's uses.
Base Flow
Sustained flow of a stream in the absence of direct runoff. It includes natural and human-induced stream flows. Natural base flow is sustained largely by groundwater discharges.
Basin
An area of land that drains all the streams and rainfall to a common outlet such as the outflow of a reservoir, mouth of a bay, or any point along a stream channel.
Creek
A natural stream of water normally smaller than and often tributary to a river.
Discharge
The volume of water that passes a given location within a given period of time. Usually expressed in cubic feet per second.
Flood
An overflow of water onto lands that are used or usable by man and not normally covered by water. Floods have two essential characteristics: The inundation of land is temporary; and the land is adjacent to and inundated by overflow from a river, stream, lake, or ocean.
Flood Plain
A strip of relatively flat and normally dry land alongside a stream, river, or lake that is covered by water during a flood.
Floodway
The channel of a river or stream and the parts of the floodplain adjoining the channel that are reasonably required to efficiently carry and discharge the flood water or flood flow of a river or stream.
Hardness
A water-quality indication of the concentration of alkaline salts in water, mainly calcium and magnesium. If the water you use is 'hard' then more soap, detergent or shampoo is necessary to raise a lather.
Injection Well
Refers to a well constructed for the purpose of injecting treated wastewater directly into the ground. Wastewater is generally forced (pumped) into the well for dispersal or storage into a designated aquifer. Injection wells are generally drilled into aquifers that don't deliver drinking water, unused aquifers, or below freshwater levels.
Precipitation
Rain, snow, hail, sleet, dew, and frost.
Rating Curve
A drawn curve showing the relation between gage height and discharge of a stream at a given gaging station.
Reservoir
A pond, lake, or basin, either natural or artificial, for the storage, regulation, and control of water.
Riparian Water Rights
The rights of an owner whose land abuts water. They differ from state to state and often depend on whether the water is a river, lake, or ocean. The doctrine of riparian rights is an old one, having its origins in English common law. Specifically, persons who own land adjacent to a stream have the right to make reasonable use of the stream. Riparian rights cannot be sold or transferred for use on non riparian land.
River
A natural stream of water of considerable volume, larger than a brook or creek.
Spring
A water body formed when the side of a hill, a valley bottom or other excavation intersects a flowing body of groundwater at or below the local water table, below which the subsurface material is saturated with water.
Alternating Current (AC)
Type of electrical current, the direction of which is reversed at regular intervals or cycles. In the United States, the standard is 120 reversals or 60 cycles per second. Electricity transmission networks use AC because voltage can be controlled with relative ease.
Ampere (amp)
Unit of electrical current or rate of flow of electrons. One volt across one ohm of resistance causes a current flow of one ampere.
Balance of System (BOS)
Represents all components and costs other than the photovoltaic modules/array. It includes design costs, land, site preparation, system installation, support structures, power conditioning, operation and maintenance costs, indirect storage, and related costs.
Build Area
Measures the total number of acres that are viable for construction of solar or Wind Generation projects. This represents the parcel's total surface area minus any wetlands, floodplains, forested area, and other areas unsuitable for solar project development.
Community Solar
Solar power system that generates electricity that is used by more than one household. Sometimes called a solar garden, it allows members of a community who cannot (or do not wish to) install solar on their property to enjoy the benefits of solar.
Conductor
The material through which electricity is transmitted, such as an electrical wire, or transmission or distribution line.
Converter
Device that converts a direct current (dc) voltage to another dc voltage.
Direct Current (DC)
Type of electricity transmission and distribution by which electricity flows in one direction through the conductor, usually relatively low voltage and high current. Transmitting DC power over a long distance is inefficient.
Distance to Interconnection
Represents the distance measured in miles from a parcel to the nearest point of interconnection. The Point of Interconnection is typically a physical substation, node or other LMP Pricing location that can safely deliver the generated electricity to the electric grid. Grid-tied systems can directly access wholesale electricity markets.
Distribution Line
The line or system for distributing power from a transmission system to a consumer that operates at less than 69,000 volts. When a voltage greater than 1 kilovolt and less than 40 kilovolt is used for a particular power line, the power line is typically referred to as a distribution line.
EIA
Energy Information Administration. Official Energy Statistics from the U.S. Government.
Engineering, Procurement and Construction (EPC)
Company that provides Engineering, Procurement, and Construction of a full solar system. The responsibilities of an EPC include: Leasing or acquiring property, Performing site surveys to check the viability of a solar system, Determine solar power generation capacity and equipment selection, Design and install the solar system.
FEMA
The Federal Emergency Management Agency is an agency of the United States Department of Homeland Security
Federal Energy Regulatory Commission (FERC)
Regulates the price, terms and conditions of power sold in interstate commerce and regulates the price, terms, and conditions of all transmission services. FERC is the federal counterpart to state utility regulatory commissions.
Federal Investment Tax credit (ITC)
Also known as the federal solar tax credit, currently allows you to deduct 26% of the cost of installing a solar energy system from your federal taxes and has no cap on its value. The ITC will change to 22% in 2021.
Feed-in Tariff (FiT)
A Feed-in Tariff is a financial incentive that provides a fixed price for the purchase of electricity generated (per kWh) from a qualifying renewable resource for a given period of time. All of the electricity generated is sold to the utility at a fixed price, which is usually set above the retail price of electricity. A FiT guarantees a fixed premium rate for a given period of time, which provides a reliable revenue stream for developers to finance investments in renewable energy.
Grid Connected
Energy generating systems that are connected to the electricity transmission or distribution Line
Independent System Operator (ISO)
The entity responsible for maintaining system balance, reliability, and electricity market operation. A neutral and independent organization with no financial interest in generating facilities that administers the operation and use of the transmission system. ISOs exercise final authority over the dispatch of electricity from generators to customers to preserve reliability and facilitate efficiency, ensure non-discriminatory access, administer transmission tariffs, ensure the availability of ancillary services, and provide information about the status of the transmission system and available transmission capacity.
Inverter
Device that converts direct current (DC) electricity to alternating current (AC).
Investor-owned utility (IOU)
Common term for a privately owned (shareholder-owned) gas or electric utility regulated by the Minnesota Public Utilities Commission (referred to in statutes as a “public utility”).
Kilowatt (kW)
Standard unit of electrical power equal to 1000 watts, or to the energy consumption at a rate of 1000 joules per second.
Kilowatt-hour (kWh)
1,000 thousand watts acting over a period of 1 hour. The kWh is a unit of energy. 1 kWh=3600 kJ.
Levelized Cost of Energy (LCOE)
The total cost of a project including all equipment, installation, over-head, permitting and maintenance over the life of the project's expected life divided by the total energy produced over its lifetime. LCOE is typically measured in $/MWh. The cost per unit energy generated over its lifetime.
Locational Marginal Pricing (LMP)
Method of calculating wholesale electric energy prices to reflect the value of electric energy at different locations, accounting for the patterns of load, generation, and the physical limits of the transmission system.
Megawatt (MW)
1,000 kilowatts, or 1 million watts; a standard measure of electric power plant generating capacity.
Megawatt-hour (MWh)
1,000 kilowatt-hours or 1 million watt-hours. Commonly used as the base unit for energy in wholesale electricity markets.
NREL
Specializes in renewable energy and energy efficiency research and development. NREL is a government-owned, contractor-operated facility, and is funded through the United States Department of Energy.
Nameplate Capacity (Peak Capacity)
Refers to the intended full-load sustained output of a generation system. Generally rated under Standard test Conditions and expressed in Watt-peak in either as a direct current (DC) or alternating current (AC) electrical power.
Net Metering
For electric customers who generate their own electricity, net metering allows for the flow of electricity both to and from the customer. When a customer’s generation exceeds the customer’s use, electricity from the customer flows back to the grid, offsetting electricity consumed by the customer at a different time during the same billing cycle.
Performance-Based Incentive (PBI)
Performance-based incentives (PBIs), also known as production incentives, provide cash payments based on the number of kilowatt-hours (kWh) or BTUs generated by a renewable energy system. A “feed-in tariff” is an example of a PBI. To ensure project quality, payments based on a system’s actual performance are generally more effective than payments based on a system’s rated capacity. (Note that tax incentives based on the amount of energy produced by an eligible facility are categorized as “Corporate Tax Incentives” or “Personal Tax Incentives” in DSIRE.)
Power Pool
Two or more interconnected electric systems planned and operated to supply power for their combined demand requirements.
Power Purchase Agreement (PPA)
Also known as an electricity power agreement, is a contract between two parties, one which generates electricity and one which is looking to purchase electricity.
Production Tax Credit (PTC)
The federal PTC is a per-kilowatt-hour tax credit for generating electricity, for a certain period of the solar system’s operation. Projects that claim the Investment Tax Credit (ITC) are ineligible for the PTC and vice versa.
Property Tax Incentives
Property tax incentives include exemptions, exclusions, abatements, and credits. Most property tax incentives provide that the added value of a renewable energy system is excluded from the valuation of the property for taxation purposes. For example, if a new heating system that uses renewable energy costs more than a conventional heating system, the additional cost of the renewable energy system is not included in the property assessment. In a few cases, property tax incentives apply to the additional cost of a green building. Because property taxes are collected locally, some states have granted local taxing authorities the option of allowing a property tax incentive for renewables.
Regional Transmission Organizations (RTO)
An electric power transmission system operator that coordinates, controls, and monitors a multi-state electric grid.
Renewable Energy
Energy that is produced from a renewable source, such as sunlight, flows of wind or water, or sustainably grown plants.
Renewable Energy Certificate (REC)
Renewable Energy Credits (RECs) represent the environmental attributes of electricity generated through a qualifying renewable energy resource. One REC is issued for every 1 megawatt-hour (MWh) of electricity produced by the qualifying source.
Renewable Portfolio Standards (RPSs)
Renewable portfolio standards require utilities to use or procure renewable energy or renewable energy credits (RECs) to account for a certain portion of their retail electricity sales according to a specified schedule. (Renewable portfolio goals are similar to RPS policies, but goals are not legally binding.)
Retail Electricity
The segment of the electricity market when electricity is sold from an energy provider to its final end consumer.
Sales Tax Incentives
Sales tax incentives typically provide an exemption from, or refund of, the state sales tax (or sales and use tax) for the purchase of a renewable energy system or energy-efficiency measures. Some states have established an annual “sales tax holiday” for energy efficiency measures by annually allowing a temporary exemption — usually for one or two days — from the state sales tax.
Soft Costs
Non-hardware costs related to PV systems, such as financing, permitting, installation, interconnection, and inspection.
Substation
Facility for switching electric elements, transforming voltage, regulating power, or metering.
System Availability
The percentage of time that the particular power station, wind farm, or wind turbine, is in an operational condition.
System Loss
Represents the inefficiencies and energy loss that occurs at a within the generating facility which reduces the total portion of generated energy delivered at the Point of Interconnection. (%)
Transformer
An electromagnetic device that changes the voltage of alternating current electricity.
Transmission Line
Used for the transmission of electrical power from generating substation to the various distribution units.. Direct current is used in the transmission line for transmitting high voltage, over long distance high voltage.
Transmission Loss
Represents the portion of energy lost during the time spent in Transmission to the Point of Interconnection (POI). Transmission Loss is approximated by Percent energy loss per mile (%/mile) between the generation site and the Point of Interconnection (POI) also known as the Distance to Interconnection.
USFS
The United States Forest Service is an agency of the U.S. Department of Agriculture that administers the nation's 154 national forests and 20 national grasslands.
Watt
The rate of energy transfer equivalent to one ampere under an electrical pressure of one volt. One watt equals one joule per second. It is the product of voltage and current (amperage).
Wholesale Electricity Market
The purchase and sale of electricity from generators to resellers (who sell to retail customers and/or other resellers) along with the ancillary services needed to maintain reliability and power quality at the transmission level.
