Oil and Gas Glossary: E Terms
7 oil and gas terms start with the letter E. Each one is defined below, in alphabetical order.
Easement
An easement is a created interest which allows usage for a stated purpose. In oil and gas, this is most commonly for installing and operating pipelines.
Electric Log
A subsurface recording that indicates a well’s rock formation characteristics by illustrating its responses to electric current.
Escheated
In today’s usage, this is the process whereby property to which there is no claimant is returned to the state, usually the state comptroller’s office.
Executive Rights to Minerals
Executive rights include the right to negotiate and execute oil & gas leases, lease bonuses, and delay rentals.
Exploratory Well
Any well drilled for the purpose of securing geological or geophysical information to be used in the exploration or development of oil, gas, geothermal, or other mineral resources.
Exponential Decline
A single decline rate that is used for the life of a well.
Extraction Loss
The reduction in volume and energy content of natural gas resulting from the removal of natural gas liquid constituents.