Glossary of Industry Terms
Gas Lease
Unlike oil, which is liquid, gas is physically processed from its natural gaseous state, compressed, and liquefied for transport. Gas is not always used in the region where it is produced and therefore a network of pipelines became the means of transport. There are no local refineries as there are with crude oil. It is transported from the well by transmission through a natural gas pipeline. The capital investment to move gas along the pipeline is substantial compared to transporting oil to loca
Gas Oil Ratio (GOR)
The volume of gas at atmospheric pressure produced per unit of oil produced.
