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Floorhand: Laborer responsible for the overall maintenance of the rig. Frac hit: A frac hit is a form of interwell communication in which hydraulic fracturing on a new well forces high pressure fluids through a shared subsurface reservoir with offset (nearby producing wells), creating a pressure spike that can damage offset wellbores and impact ...
The Petroleum Dictionary contains short definitions for around 6,000 terms used in the oil industry in America, with a particular focus on slang.It is intended as a record of the history of these colloquialisms, rather than a reference work for individuals in the petroleum industry.
RSPP – a publicly-traded oil and gas producer focused on horizontal drilling of multiple stacked pay zones in the oil-rich Permian basin [citation needed] [clarification needed] RSS – rig site survey; RSS – rotary steerable systems; RST – reservoir saturation tool (Schlumberger) log; RTMS – riser tension monitoring system
erosion of a boiler's plates from the internal water space, particularly where there is a step inside the shell. This was a problem for early boilers made from lapped plates rather than butted plates, and gave rise to many boiler explosions. In later years it was a problem for the non-circular water drums of Yarrow boilers. Handhole
When forming contracts, parties to the contract often use templates or forms with boilerplate clauses (boilerplate language, used as standard language). Such clauses refers to the standardized clauses in contracts, and they are to be found towards the end of the agreement. [1]
The oil and gas industry operates in countries throughout the world in accordance with a number of different types of agreements. These agreements generally fall into one of four categories (or a combination of the categories): risk agreements, concessions, production sharing agreements (PSAs, also known as production sharing contracts, PSCs) and service contracts.
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In contract law, the term "boilerplate language" or "boilerplate clause" describes the parts of a contract that are considered standard.A standard form contract or boilerplate contract is a contract between two parties, where the terms and conditions of the contract are set by one of the parties, and the other party has little or no ability to negotiate more favorable terms and is thus placed ...