A colorless liquid product of petroleum distillation that is used as a manufacturing solvent, a dry-cleaning fluid and a gasoline-blending stock.
National Petroleum Reserve-Alaska
A petroleum province west of the Prudhoe Bay Field and south of Point Barrow on the North Slope of Alaska, consisting of millions of acres set aside and held in reserve for the purpose of national defense. A portion of the reserve is open to drilling.
A mixture of light hydrocarbons found naturally in the Earth’s crust, often in association with oil (when it is known as associated gas). Methane is the most dominant component.
Natural Gas Liquids (NGL)
A mixed stream of ethane, propane, butane and pentanes that is split into individual components. These components are either sold or used as feedstocks for refineries and chemical plants.
A measure of the resistance of a fuel to pre-ignition (“knock”) when burned in an internal combustion engine. The higher the number, the more anti-knock quality.
A substance, such as a mercaptan, that is added to odorless natural gas and natural gas liquids; gives them a characteristic smell and thus enables them to be detected.
A mixture of liquid hydrocarbons of different molecular weights.
A geographical area under which an oil reservoir lies.
Basic chemicals made from oil or natural gas liquids feedstocks; commonly used to manufacture plastics and gasoline. Examples are ethylene and propylene.
The Organization of Petroleum Exporting Countries, which are Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates and Venezuela.
The legal right to produce oil or gas from a well, accompanied by the responsibilities to pay production costs and assume the risks.
Term used to describe a company appointed by venture stakeholders to take primary responsibility for day-to-day operations for a specific plant or activity.
An aromatic compound used in the manufacture of plasticizers and polyester.
Outer Continental Shelf (OCS)
That portion of a continental land mass that constitutes the slope down to the ocean floor. The outer continental shelves are heavily sedimented, and it is believed they contain a large portion of the earth’s undiscovered oil and gas.
An aromatic compound used to make polyester fibers and plastic soft drink bottles.
The stratum of rock in which oil and/or gas is found.
The capacity of a rock or stratum to allow water or other fluids, such as oil, to pass through it.
An intermediate chemical derived from petroleum, hydrocarbon liquids or natural gas: ethylene, propylene, benzene, toluene and xylene.
A generic name for hydrocarbons, including crude oil, natural gas liquids, natural gas and their products.
A cylindrical device that is inserted into a pipeline to clean the pipeline wall or monitor the internal condition of the pipeline. Also called a go-devil..
Long steel piles driven into the seabed to anchor fixed offshore structures solidly in place.
A pipe through which natural gas, crude oil or petroleum products are pumped between two points, either onshore or offshore.
A generic term for a range of high-molecular-weight polymers that can be used to produce a variety of items.
A class of petroleum-based materials that can be molded to form plastic items or used as the basis of adhesives.
The level of peak production reached by an oil or gas field; it is always followed by declining level of production.
An offshore structure from which development wells are drilled; see drilling installation, production installation..
Playa Lakes Joint Venture
Phillips was one of the founding partners of this cooperative partnership of government and private organizations to preserve the playas of Oklahoma, Texas, New Mexico, Colorado and Kansas. Playas, which are small, shallow basins, serve as critical habitat for some 4 million ducks, geese and sandhill cranes. An important part of the effort is providing teachers in the playa region with educational materials that stress the importance of playas. In 1991, the joint venture was awarded a Presidential Citation by President George H.W. Bush.
The process whereby a well is filled with concrete and abandoned. Often referred to as “p&a” — plugged and abandoned.
A complex compound formed by the polymerization of one or more monomers. Polyethylene
Plastic made from ethylene; used in manufacturing trash bags, milk jugs, shampoo bottles, water coolers and cable coating, among other things.
An engineering plastic with excellent resistance to most chemicals. See Ryton.
Basic plastic formed by joining propylene molecules together. Used in the manufacture of synthetic fibers, automotive parts, luggage, safety helmets and home construction.
The abbreviation for “parts per million,” the scale on which impurities and contaminants in oils, gases and petrochemicals are measured.
A facility designed to separate substances or make new substances through chemical reactions, procedures or physical actions.
Brines that flow or are lifted to the surface with oil.
The percentages of gasoline, jet fuel, kerosene, gas oil, distillates, residual fuel oil, lubricating oil and solid products that a refinery can produce from a single barrel of crude oil.
Drilling of wells in order to bring a field into production.
An installation from which development wells are drilled and that carries all the associated processing plants and other equipment needed to maintain a field in production.
A document issued by the governing state granting an oil company authority to produce oil and natural gas in a designated geographic area.
The productive life of an oil or gas field.
A platform from which development wells are drilled and that carries all the associated processing plants and other equipment needed to maintain a field in production.
The tubing or piping in a production well through which oil or gas flows from the reservoir to the wellhead.
A well used to remove oil or gas from a reservoir.
A heavy gaseous hydrocarbon found in crude oil and natural gas; used as fuel and in the making of petrochemicals.
A raw material in the chemical, plastics and fibers industries. Major component of the plastic polypropylene..
An oil and/or gas field whose physical extent and estimated reserves have been determined.
Estimated quantities of hydrocarbons that geological and engineering data demonstrate will be recoverable from known oil and natural gas reservoirs under existing economic and operating conditions.
Facilities placed along the route of a pipeline to keep oil or gas moving along with pressure or suction.