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Oil & Gas Glossary

Deep Learning

Confused by multitude of oil & gas data and analytics terms? Get easy-to-understand definitions in our glossary.

What is Deep Learning?

A subset of machine learning that uses artificial neural networks to simulate human decision-making.

Back to glossary

Additional Terms by Category

Reservoir Engineering

API Gravity
Capillary Pressure
Compressibility
Darcy's Law
Field Development Plan
Formation Pressure
Gas Formation Volume Factor
Gas Solubility
Gas Specific Gravity
Oil Formation Volume Factor
Oil Reservoirs
Permeability
Porosity
Relative Permeability
Reserves
Reserves Estimation
Reservoir Flow Regimes
Resistivity
Saturation
Surface Tension
Viscosity
Oil reserves
BHCT (Bottomhole Circulating Temperature)
BHST (Bottomhole Static Temperature)
Big Data in Reservoir Engineering
Borehole Pressure
Compartmentalization
Data Analytics in Reservoir Management
Data-Driven Reservoir Characterization
Depositional system
Dip
Dynamic Reservoir Modeling
Economic Limit
Facies modeling
Formation
Formation evaluation
Frac tree
Gas in solution
Gas-oil contact
Gas-prone
Geological Modeling
Gas-water contact
Geostatistics
Geosteer
GIIP (Gas Initially In Place)
HBP (Held by Production)
Hydrostatic pressure
Integrated Reservoir Modeling
Material Balance Equation
Monte Carlo Simulation
Oil-Water Contact (OWC)
Overburden
P10, P50, P90 Reserves
Pore Volume
Probabilistic Reserves
Production Forecasting
Production Optimization
Rate-Transient Analysis
Recovery Factor
Reserves Replacement Ratio (RRR)
Reservoir Appraisal
Reservoir Characterization Analytics
Reservoir Data Integration
Reservoir Engineering Economics
Reservoir Monitoring
Reservoir Optimization
Reservoir Parameter Estimation
Reservoir Performance Analysis
Reservoir Performance Prediction
Reservoir Production Forecast
Reservoir Rate Forecasting
Reservoir Simulation History Matching
Reservoir Simulation Modeling
Reservoir Simulation Uncertainty
Reservoir Surveillance
Shut-In Pressure
Sidetrack
Statistical Reservoir Modeling
Sweet spot
Tight Oil
Topographic Map
Uncertainty Quantification
Artificial Lift Techniques
Reservoir Connectivity & Flow Assurance
Reservoir Fluid Properties (PVT Analysis)
Reservoir Infill Drilling
Reservoir Heterogeneity & Anisotropy
Reservoir Volumetrics
Wellbore Productivity Optimization
Well Testing & Interpretation
Well Placement
Artificial Lift Techniques
Big Data in Reservoir Engineering
Carbon Capture, Utilization, and Storage (CCUS)
Data Analytics in Reservoir Management
Data Assimilation in Reservoir Modeling
Data-Driven Reservoir Characterization
Dynamic Reservoir Modeling
Economic Limit
Geostatistics

Oil & Gas Industry

Abandonment
API (American Petroleum Institute)
API Gravity
Appraisal well
Asset Development
Asset Operations
Barrel
BBL
BCF
BCM
Bitumen
Block
Blow-out
BOPD (Barrels of Oil Per Day)
CAPEX
Casing
Christmas Tree
Clastic
Condensate
Contingent resources
Conventional Oil
Crude Oil
Derrick
Development Well
Downstream
Drilling
Dry Gas
Dry hole
E&P
Elephant
Enhanced oil recovery (EOR)
Exploration
Facility Decommissioning
Flaring
Flowlines
Fracking (Hydraulic Fracturing)
Fracturing Fluid
Gas Injection
G&P (Gathering and processing)
Gas Oil Ratio (GOR)
Hitch
Horizontal Drilling
HPU (Hydraulic Power Unit)
Hydrocarbon
Lease
LNG (Liquefied Natural Gas)
LPG (Liquefied Petroleum Gas)
Midstream
Mud
Natural Gas
Natural Gas Liquids (NGLs)
Offshore/Onshore
Oil Field
Operator
Opex
Permeability
Petroleum
Pig
Play
Porosity
Pressure Containment
Proven Reserves
Recovery Factor
Refinery
Reserves
Reservoir
Royalty
Seismic Data
Site Restoration
Sour Crude
Sour gas
Strings
Sweet Crude
Tight Gas
Ultra-Heavy Oil
Upstream
Water flooding
Well
Well logging
Well Plugging
Wellbore
Wellbore Isolation
Wellhead
Wet Gas
Wireline
ZLD (Zero Liquid Discharge)
Dead oil
Elasticity
Extended-reach drilling (ERD)
intelligent well
Lessor Royalty
Licensing Round
Net Revenue Interest
Net Profits Interest
Nonparticipating Royalty
P&A (Plug and Abandon)
Profit Oil
Pad
Refracturing
Unconventional Resource

Oil & Gas Analytics

Decline Curve Analysis
Drilling analytics
Drilling optimization
Energy industry analytics
Energy market forecasting
EUR (Estimated Ultimate Recovery)
Flow Regimes
Formation evaluation
Oil and gas data analysis
Production forecasting
Recovery Factors
Reserves estimation and analytics
Reservoir Characterization
Reservoir engineering analytics
Reservoir modeling
Type Curves
Well cost estimation
Well design
Well Integrity
Well intervention
Well planning
Well testing
Wellbore trajectory
Box Plots
Wireline Log
Big Data Management
Business Intelligence (BI)
Cloud Computing for O&G
Data Democratization
Data-Driven Workflows
Data Governance
Data Ingestion & Integration
Data Visualization (Dashboards)
Decision Support Systems
Economic Modeling
Exploratory Data Analysis (EDA)
Petrophysics
Reserves Estimation
Shale Analytics
Statistical Modeling
Flow Rates
Pressure Data
Production Curves
Predictive Algorithms
Predictive Models
Data Normalization
Time-to-First-Production (TTFP)
Data Fusion
Capital Efficiency
Asset Reconciliation
Flow Rates
Predictive Algorithms
Predictive Models
Pressure Data
Production Curves
Data Normalization
Time-to-First-Production (TTFP)
Normalized Production Data
Capital Efficiency
Asset Reconciliation
Data Fusion
Normalized Production Data
ESG Data
State Agency Energy Data
EIA State Data
Texas RRC Data
Oklahoma Corporation Commission
California Energy Commission
NYSERDA Datasets
PUC Reports (Public Utilities Commission)
Water Usage and Disposal
Production Data Analytics
Drilling Data Analytics
Reservoir Data Analytics
Predictive Analytics Energy
Machine Learning Oil Gas
Artificial Intelligence Energy
Big Data Oil Gas
Data Visualization Energy
Real-Time Analytics
Performance Analytics
Internet of Things (IoT) Oil Gas
Sensor Technology Energy
Wireless Sensor Networks
Condition Monitoring
Vibration Monitoring
Temperature Monitoring
Pressure Monitoring
Flow Monitoring
Leak Detection Systems
Pipeline Monitoring
Digital Oilfield Technology
Smart Wells
Intelligent Completions
Real-Time Monitoring
Remote Operations
Automated Production
Digital Twin Technology
Edge Computing Oil Gas
Satellite Monitoring

Machine Learning

Artificial Intelligence (AI)
Artificial Neural Networks (ANN)
Classification
Clustering
Decision Trees
Deep Learning
Ensemble Learning
Feature Engineering
Hyperparameters
Machine Learning
Predictive Modeling
Regression
Reinforcement Learning
Time Series Analysis
Distribution
Cloud-Based ML Platforms
Data Preprocessing & Cleaning
Explainable AI (XAI)
Feature Scaling & Normalization
ML-powered Decision Support Systems
Model Evaluation & Validation
Explainable AI (XAI)
Gradient Boosting
Model Drift Detection
Synthetic Data Generation
Label Imbalance
AutoML
Reinforcement Learning
Time-Series Cross Validation
Bayesian Optimization
Recursive Feature Elimination (RFE)
Multicollinearity in ML
Model Calibration
Transfer Learning in Oil & Gas
Dimensionality Reduction
Outlier Detection Models
Hyperparameter Tuning
Cross-Validation Strategies
Ensemble Model Stacking
Support Vector Regression (SVR)
Recurrent Neural Networks (RNN)
Model Drift Detection
Semi-Supervised Learning
Synthetic Data Generation
Feature Drift Monitoring
Data Labeling Strategies
Self-Supervised Learning
Graph Neural Networks (GNNs)
Model Explainability Frameworks

Reservoir Engineering Formulas

API Gravity Formula
Arps Decline Curve Equation
Capillary Pressure
Darcy's Law Equation
Diffusivity Equation
Dimensionless Pressure (Kamal and Brigham)
Gas Deviation Factor
Gas Formation Volume Factor
Gas-Oil Ratio (GOR)
Kozeny-Carman Relationship
Material Balance Equation
Oil Formation Volume Factor (Standing's Correlation)
Original Oil in Place (OOIP)
Total Compressibility
Transmissivity Formula
Vogel's IPR for Solution Gas Drive Reservoirs
Water Cut Formula
Productivity Index (PI) Equation
Recovery Factor Formula
Original Gas in Place (OGIP)
Gas Expansion Factor (Bg)
Solution Gas-Oil Ratio (Rs)
Oil Compressibility (co)
Water Compressibility (cw)
Rock Compressibility (cr)
Pseudo-Pressure Function
Skin Factor Calculation
Wellbore Storage Constant
Hydraulic Fracturing Pressure
Fracture Half-Length Equation
Proppant Transport Model
Conductivity Impairment Index
Non-Darcy Flow Coefficient (D)
Multiphase Flow Correlation
Fetkovich Decline Type Curve
Duong Decline Model Parameters
Power Law Exponential Decline
Stretched Exponential Decline
Terminal Decline Rate Analysis
Minimum Decline Rate Threshold
Hyperbolic Decline Parameter (b)
Exponential Decline Equation
Harmonic Decline Curve
Seismic Velocity Analysis
Acoustic Impedance Formula
AVO Intercept-Gradient
Fluid Substitution Equation
Gassmann Equation
Biot-Gassmann Theory
Shear Modulus Calculation
Bulk Modulus Reservoir Rock
Poisson's Ratio Rock
Lame Constants Formation
Thomsen Anisotropy Parameters
Vp/Vs Ratio Analysis
Density Log Porosity
Neutron-Density Crossplot
Sonic Porosity Calculation
Shale Volume (Vshale) Gamma Ray
Effective Porosity Correction
Net Pay Thickness
Water Saturation Archie Equation
Simandoux Shaly Sand Saturation
Indonesia Shaly Sand Model
Waxman-Smits Cation Exchange
Dual Water Saturation Model
Movable Oil Calculation
Residual Oil Saturation
Critical Water Saturation
End Point Water Saturation
Corey Relative Permeability
Brooks-Corey Capillary Pressure
Leverett J-Function
Drainage-Imbibition Hysteresis
Buckley-Leverett Front Tracking
Fractional Flow Water Cut
Welge Tangent Method
Johnson-Bossler-Naumann Method
Hurst Exponent Fractal Analysis
Detrended Fluctuation Analysis
Lyapunov Exponent Chaos
Hurst-Kolmogorov Scaling
Power Spectral Density Analysis
Pseudo-Steady State Equation
Steady State Radial Flow
Transient Radial Flow Solution
Infinite Acting Radial Flow
Bounded Reservoir Solution
Partial Penetration Skin
Horizontal Well Skin Factor
Multilateral Well Productivity
Interference Testing Equation
Pulse Testing Response
Falloff Test Analysis
Buildup Test Derivative
Horner Time Approximation
MBH Middle Time Region
Tiab Direct Synthesis
Pressure Derivative Log-Log Plot
Bourdet Type Curve Matching

Petroleum Economics & Finance

Finding & Development (F&D) Cost
Exploration Risk Factor
Break-Even Production Rate
Cash Flow Per BOE (Barrel of Oil Equivalent)
Backwardation vs. Contango
OPEC Basket Price
Hydrocarbon Maturity Model
Depletion Expense
Upstream Fiscal Regimes
Cost Recovery Mechanism
Windfall Profit Tax
Lease Operating Expenses (LOE)
Asset Retirement Obligation (ARO)
Host Government Take
Payout Ratio
Return on Capital Employed (ROCE)
Decline Rate
Project Finance
Debt-to-Equity Ratio
Production Efficiency Ratio (PER)
Operating Margin
Lifting Costs
Field Abandonment Costs
Excess Profit Tax
Profit-to-Investment Ratio (PIR)
Hydrocarbon Netback Value
Marginal Cost of Production
Economic Limit Factor (ELF)
Production Tax Credit (PTC)
Exploration Success Ratio (ESR)
Petroleum Fiscal Stability Analysis
Host Government Participation (HGP)
Geopolitical Risk Premium
Depletion Allowance in Taxation
Blending Economics
Non-Productive Time (NPT)
Energy Private Equity
Energy Infrastructure Funds
Royalty Trusts (PTP)
Master Limited Partnerships (MLP)
Energy REITs
Commodity ETFs
Energy Hedge Funds
Direct Participation Programs (DPP)
Oil and Gas Syndications
Energy Infrastructure Investment
Pipeline Investment
Midstream Investment
Payout Period
Return on Investment (ROI)
Return on Assets (ROA)
Return on Equity (ROE)
Energy Investment Metrics
Reserve-Based Lending (RBL)
Borrowing Base
Proved Developed Producing (PDP) Value
Oil Price Volatility
Natural Gas Pricing
WTI vs Brent Crude
Henry Hub Natural Gas
Crack Spread Analysis
Spark Spread Analysis
Contango vs Backwardation
Futures Curve Analysis
Options Trading Energy
Energy Derivatives
ESG Investing Energy
Energy Transition Investing
Carbon Credit Investment
Renewable Energy Investment
Clean Energy Investment
Green Bonds Energy
Sustainable Energy Finance
Climate Risk Assessment
Stranded Asset Risk
Energy Portfolio Decarbonization

Mineral Asset Valuation Terms

Net Present Value (NPV)
Discount Rate
Internal Rate of Return (IRR)
Cash Flow Analysis
Tax Regime
Measured Mineral Resource
Indicated Mineral Resource
Inferred Mineral Resource
Probable Reserve
Commodity Price Forecasting
Spot Price vs. Contract Price
Hedging Strategies
Cut-Off Grade
Strip Ratio
Geopolitical Risk Assessment
Mine Life Estimation
Ore Grade
Mineralization Cutoff
Tonnes to Ounces Conversion
JORC Code (Joint Ore Reserves Committee Code)
NI 43-101 Report
Exploration Expenditure (EXP CAPEX)
Sustaining Capital
Net Smelter Return (NSR)
Metallurgical Recovery Rate
Concentrate vs. Dore Bar
Market Approach in Mineral Valuation
Cost Approach in Mining Valuation
Income Approach in Mineral Valuation
Multiples of Exploration Expenditure (MEE)
Real Options Valuation (ROV) in Mining
Net Asset Value (NAV) in Mining
All-in Sustaining Cost (AISC)
Smelter & Refining Charges (TC/RC)
Geotechnical Stability Risks
Preliminary Economic Assessment (PEA)
Pre-Feasibility Study (PFS)
Feasibility Study (FS)
Bankable Feasibility Study (BFS)
Payback Period
Sensitivity Analysis
Weighted Average Cost of Capital (WACC)
Dilution
Mining Method (Open Pit vs. Underground)
Environmental Impact Assessment (EIA)
Oil & Gas Royalties
Reclamation & Closure Costs
Offtake Agreements
Risk-Adjusted Discount Rate
Social License to Operate (SLO)
Resource Reconciliation
Mineral Owners
Mineral Rights vs Surface Rights
Fee Simple Ownership
Severed Mineral Rights
Mineral Deed
Mineral Rights Valuation
Net Mineral Acres (NMA)
Gross Mineral Acres
Fractional Mineral Interest
Executive Rights
Non-Executive Mineral Interest (NEMI)
Mineral Rights Due Diligence
Mineral Rights Title Search
Chain of Title
Title Opinion
Mineral Rights Inheritance
Mineral Rights Probate
Heirship Determination
Royalty Interest (RI)
Non-Participating Royalty Interest (NPRI)
Overriding Royalty Interest (ORRI)
Term Royalty Interest
Perpetual Royalty Interest
Royalty Deed
Royalty Payment Calculation
Royalty Check Stub Analysis
Royalty Decimal Interest
Gross Royalty vs Net Royalty
Royalty Audit
Royalty Suspension
Shut-in Royalty
Minimum Royalty
Sliding Scale Royalty
Oil and Gas Lease
Lease Bonus Payment
Primary Term vs Secondary Term
Delay Rental Payment
Lease Extension
Top Lease
Lease Expiration
Continuous Operations Clause
Force Majeure Clause
Pugh Clause
Depth Severance Clause
Horizontal Pugh Clause
Lease Assignment
Farmout Agreement
Farmin Agreement
Mineral Rights Appraisal

Midstream Terms

Midstream Sector
Pipeline
Gathering System
Transmission Pipeline
Compressor Station
Pump Station
Right-of-Way (ROW)
Pipeline Tariff
Common Carrier Pipeline
Contract Carriage
FERC (Federal Energy Regulatory Commission)
PHMSA (Pipeline and Hazardous Materials Safety Administration)
Pipeline Integrity
Pigging
SCADA (Supervisory Control and Data Acquisition)
Liquefied Natural Gas (LNG)
Liquefaction & Regasification
LNG Terminal
Floating LNG (FLNG)
Natural Gas Liquids (NGLs)
Fractionation
Gas Processing Plant
Sour Gas & Sweetening
Storage Facility
Salt Cavern Storage
Underground Gas Storage
Terminal
Custody Transfer
Measurement & Metering
Drag Reducing Agent (DRA)
Throughput
Vapor Recovery Unit (VRU)
Decommissioning
Smelter & Refining Charges (TC/RC)
Geotechnical Stability Risks
Preliminary Economic Assessment (PEA)
Pre-Feasibility Study (PFS)
Feasibility Study (FS)
Bankable Feasibility Study (BFS)
Payback Period
Sensitivity Analysis
Weighted Average Cost of Capital (WACC)
Dilution
Mining Method (Open Pit vs. Underground)
Environmental Impact Assessment (EIA)
Oil & Gas Royalties
Reclamation & Closure Costs
Offtake Agreements
Risk-Adjusted Discount Rate
Social License to Operate (SLO)
Resource Reconciliation
Pipeline Infrastructure
Gathering Systems
Transmission Pipelines
Distribution Pipelines
Pipeline Capacity
Pipeline Utilization
Pipeline Maintenance
Pipeline Construction
Pipeline Economics
Gas Processing
Oil Refining
NGL Fractionation
Tank Farms
Underground Storage
LNG Facilities
Export Terminals
Import Terminals
Crude Oil Transportation
Natural Gas Transportation
Pipeline Transportation
Truck Transportation
Rail Transportation
Marine Transportation
Logistics Optimization
Transportation Economics
Modal Selection
Supply Chain Management
Midstream Sector Overview
Gathering System Design
Transmission Line Monitoring
Compressor Station Operations
Pump Station Reliability
Right-of-Way Acquisition
Pipeline Tariff Structures
Common Carrier Regulations
Contract Carriage Agreements
FERC Compliance
PHMSA Safety Standards
Pipeline Integrity Management
Pipeline Pigging Techniques
SCADA Systems Integration
LNG Liquefaction Process
Regasification Terminal Operations
Floating LNG (FLNG) Technology
NGL Extraction Methods
Fractionation Plants
Sour Gas Processing
Storage Facility Operations
Salt Cavern Storage Utilization

Energy Markets & Trading Terms

Spot Market
Forward Market
Futures Contract
Energy Arbitrage
Liquidity in Energy Markets
Bid-Ask Spread
Price Discovery
Day-Ahead Market
Real-Time Market
Balancing Market
Load Forecasting
Congestion Pricing
Interconnection Capacity
Hedging in Energy Trading
Swaps in Energy Trading
Options Contract in Energy Markets
Margin Calls in Energy Trading
Capacity Market
Renewable Energy Certificates (RECs)
Carbon Trading & Emissions Markets
Independent System Operator (ISO)
Regional Transmission Organization (RTO)
Energy Trading Hubs
Market Clearing Price (MCP)
Merchant Power Plant
Take-or-Pay Contract
Virtual Power Purchase Agreement (VPPA)
Contract for Differences (CfD)
Financial Transmission Rights (FTRs)
Locational Marginal Pricing (LMP)
Load-Serving Entity (LSE)
Heat Rate in Power Markets
Time-of-Use (TOU) Pricing
Negative Pricing in Electricity Markets
Balancing Costs in Energy Markets
Block Trading in Energy Markets
Renewable Portfolio Standard (RPS)
Ancillary Services Market
Bankable Feasibility Study (BFS)
Payback Period
Sensitivity Analysis
Weighted Average Cost of Capital (WACC)
Dilution
Mining Method (Open Pit vs. Underground)
Environmental Impact Assessment (EIA)
Oil & Gas Royalties
Reclamation & Closure Costs
Offtake Agreements
Risk-Adjusted Discount Rate
Social License to Operate (SLO)
Resource Reconciliation
Upstream / Downstream
Over-the-Counter (OTC)
Mark-to-Market (MTM)
Swing Contract
Tolling Agreement
Force Majeure
Imbalance Penalty
Citygate
Capacity Release
Crack Spread
Spark Spread
Bunker Fuel
Scheduling
Basis Trading
Calendar Spread
Butterfly Spread
Energy Basis Differential
WTI Pricing
Brent Crude Benchmark
Henry Hub Index
NYMEX Trading
ICE Futures Exchange
Commodity Curve
Prompt Month Contract
Back Month Futures
Storage Arbitrage
Weather Derivatives
Demand Response Market
Energy Imbalance Market
Frequency Regulation
Spinning Reserves
Non-Spinning Reserves
Ramp Rate Constraints
Must-Run Generation
Virtual Bidding
Convergence Bidding
Intraday Trading
Basis Risk
Curve Shape Analysis
Volatility Smile
Greeks in Energy Options
Delta Hedging
Gamma Scalping
Structured Products Energy
Collateral Management
Credit Support Annex
ISDA Agreements
Master Trading Agreement
Physical Delivery

Mineral Asset Valuation Formulas

Net Present Value (NPV) Equation
Internal Rate of Return (IRR)
Payback Period
Discounted Cash Flow (DCF)
Price Elasticity of Supply
Cutoff Grade Calculation
Stripping Ratio (SR)
Ore Grade (G)
Mine Life Estimation
Metal Recovery Rate
Resource Tonnage Calculation
Net Smelter Return (NSR)
Gross Revenue
Break-even Price
Revenue per Ton of Ore
Operating Cost per Ton
Cost-to-Revenue Ratio
Sensitivity Analysis Formula
Mine Closure Cost Estimation
Royalty Interest Calculation
Net Revenue Interest (NRI)
Gross Revenue Interest
Mineral Acre Value
Lease Bonus Per Acre
Override Royalty
Non-Participating Royalty (NPR)
Working Interest Valuation
Carried Interest Formula
Reversionary Interest
Royalty Valuation Model
Production Royalty Rate
Sliding Scale Royalty
Gross Proceeds Royalty
Net Proceeds Royalty
Market Value Royalty
Royalty Suspension
Payout Royalty Adjustment
Mineral Rights Appraisal
Severed Mineral Estate
Surface Rights Valuation
Pooling Unit Royalties
Unitization Royalties
Horizontal Well Royalties
Spacing Unit Allocation
Take-Pay Royalty Clause
Gas Royalty Valuation
Condensate Royalty Calculation
NGL Royalty Allocation
Shrinkage Factor Royalty
BTU Content Adjustment
Gravity Bank Adjustment
Processing Deduction Royalty
Transportation Deduction
Gathering Deduction Calculation
Post-Production Costs
Lease Operating Expense (LOE) Allocation
Netback Royalty Value
Realized Price Royalty
Hedged Price Impact Royalty
Escalation Clause Royalty
Inflation Adjusted Royalty
Fair Market Value Clause
Most Favored Nations Royalty
Audit Clause Royalties
Suspense Period Royalty
Payout Threshold Calculation
Carry Forward Losses Royalty
Depletion Allowance Claim
Intangible Drilling Costs (IDC)
Tangible Drilling Costs Allocation
Dry Hole Contribution
Completion Cost Sharing
AFE Approval Royalties
Joint Operating Agreement (JOA)
Net Profits Interest (NPI)
Carve-Out Interest
Promoted Interest
Back-In After Payout
Tail-End Working Interest
Farmout Agreement Value
Farm-In Participation
Area of Mutual Interest (AMI)
Depth Severance Clause
Term Assignment Royalty
Permanent Non-Participating
Convertible Override
Overriding Royalty Conversion
Production Payment Valuation
Volumetric Production Payment
Risk Service Contract Royalty
Technical Service Fee
Signature Bonus Allocation
Production Sharing Royalty
Cost Oil Recovery
Profit Oil Split
R-Factor Sliding Scale
Internal Rate of Return Hurdle
Government Take Calculation
Ring-Fence Taxation Royalty
Petroleum Revenue Tax