When a company acquires an interest in a block by taking over all or part of the financial commitment for drilling an exploration well. 

An accumulation, pool, or group of pools of hydrocarbons or other mineral resources in the subsurface. A hydrocarbon field consists of a reservoir in a shape that will trap hydrocarbons and that is covered by an impermeable, sealing rock.

The application of tools, equipment and techniques for the removal of junk, debris or fish from a wellbore.

Term used to describe a vapour or gas that is burned through a pipe or burners.

The depth, or distance from surface, that the fluid in a well incapable of natural flow will reach under static conditions.

The reduction in permeability in reservoir rock due to the infiltration of drilling or treating fluids into the area adjacent to the wellbore.

The pressure of fluids within the pores of a reservoir, usually hydrostatic pressure, or the pressure exerted by a column of water from the formation's depth to sea level.

Water in the undisturbed zone around a borehole. The resistivity and other properties of this water are used in the interpretation of measurements made in the borehole or from the surface. Although formation water normally is the same as the geological formation water, or interstitial water, it may be different because of the influx of injection water.

Fracking refers to the procedure of creating fractures in rocks and rock formations by injecting fluid into cracks to force them further open. The larger fissures allow more oil and gas to flow out of the formation and into the wellbore, from where it can be extracted. Fracking has resulted in many oil and gas wells attaining a state of economic viability, due to the level of extraction that can be reached.

The gaseous phase present in a reservoir or other contained area. Gas may be found either dissolved in reservoir fluids or as free gas that tends to form a gas cap beneath the top seal on the reservoir trap.