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Only oil producers use the term netback. Netback is the sum of all costs associated with bringing one unit of a product to market. The netback price can be used to compare one oil producer with another. A manufacturer can evaluate profitability by analyzing the netback over time. 1979 Energy Crisis
September 25, 2022 The 1979 energy crisis was one of two oil price shocks in the 1970s - the other was in 1973. 3P Oil Reserves
September 25, 2022 Category 3P oil reserves represent the total amount of estimated reserves, including all proved and unproved reserves to which the company has access. Barrel Of Oil Equivalent (BOE)
September 25, 2022 A barrel of oil equivalent (BOE) is a way of standardizing natural gas and other energy resources against a barrel of oil energy. Crude Oil
September 25, 2022 Crude oil is a raw natural resource that is extracted from the earth and processed into products such as gasoline, jet fuel and other petroleum products. Downstream Operations
September 25, 2022 Refining operations are processes associated with the transformation of oil and gas into final products. Estimated Ultimate Recovery (EUR)
September 25, 2022 Estimated ultimate recovery (EUR) refers to the potential production expected from an oil well or field. Held by Production Clause
September 25, 2022 Mining regulations allow oil, gas and minerals miners to renew land leases after they expire while mines are still productive. Horizontal Well
January 1, 1 Horizontal well is a method of directional drilling. Hubbert Curve
September 25, 2022 The Hubbert Curve is a method for predicting the performance of any finite resource. Hydrocarbon
September 25, 2022 Hydrocarbons are chemical compounds that are used as the basis for the vast majority of the world’s energy production. Keystone XL Pipeline
September 25, 2022 The Keystone pipeline was proposed by TC Energy (formerly TransCanadian Corp.) in 2005 to transport new hard-to-recover heavy oil deposits from the oil sands in Canada to US refineries. Kyoto Protocol
September 25, 2022 The Kyoto Protocol is an international agreement calling on industrialized countries to significantly reduce greenhouse gas emissions. Midstream Oil Operations
September 25, 2022 Midstream refers to the points in the oil production process that lie between the upstream and downstream. North Sea Brent Crude
September 25, 2022 North Sea Brent Crude is a blended light sweet oil produced from the North Sea in the early 1960s. OPEC Basket
September 25, 2022 The OPEC basket is a weighted average of the oil prices of various OPEC members around the world. Oil ETF
September 25, 2022 An oil ETF is an exchange-traded fund (ETF) that invests in companies in the oil and gas industry. Oil Field
September 25, 2022 An oil field is a piece of land under which fossil fuels can be extracted for economic value. Oil Pollution Act of 1990
September 25, 2022 The Oil Pollution Act of 1990 expanded the powers of federal agencies to prevent and punish massive oil spills. Oil Refinery
September 25, 2022 An oil refinery is a facility that refines crude oil into various useful petroleum products such as gasoline, kerosene, or jet fuel. Oil Reserves
September 25, 2022 Oil reserves are the amount of crude oil that can be produced in a country or region. Oil Sands
September 25, 2022 Oil sands or tar sands are sandy and rocky materials containing crude bitumen, a thick and viscous liquid. Petrodollars
September 25, 2022 Petrodollars are US dollars paid to an oil exporting country. Unconventional Oil
September 25, 2022 Unconventional oil is crude oil produced by relatively new and/or complex methods. Upstream
September 25, 2022 Upstream refers to points in production that occur early in the processes. Upstream Capital Costs Index (UCCI)
September 25, 2022 The Upstream Capital Cost Index (UCCI) tracks the total capital cost of materials, facilities, equipment and personnel for oil and natural gas projects.