Glossary of Industry Terms

This library of terms is constantly growing. If you cannot find a term you need or would like to suggest a term to add to this glossary email us at memberservice@plsx.com

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Unitization

Method where owners of adjoining properties pool reserves from a single unit operated by one of the owners; production is divided among the owners according to the unitization agreement.

Upstream

Activities relating to the exploration, drilling, production and delivery to a sales point for crude oil or natural gas.