View terms and abbreviations used throughout this website
Proved plus probable reserves
Proved plus probable plus possible reserves
Australian Bureau of Agricultural and Resource Economics
To gather gas on a surface.
Australian Institute of Petroleum
Rotary drilling using air pumped down the drill string instead of circulating drilling fluid.
Australian Mines & Metals Association
An annulus is the space between two concentric cylinders, for example, the two steel casings used in core hole drilling.
Above mean sea level
Australian Pipeline Industry Association
Asia-Pacific Oil and Gas Conference and Exhibition (Society of Petroleum Engineers)
Australian Petroleum Production and Exploration Association
The drilling of a well or wells after the discovery of oil or gas to establish the limits of the reservoir, the productivity of wells in it and the properties of the oil or gas. See exploration, development, production.
A well or wells drilled to follow up a discovery and evaluate its commercial potential.
Structure through which water cannot pass.
Australian Society of Exploration Geophysicists
Australian School of Petroleum
Australian Stock Exchange
Unproductive rock underlying sedimentary rock.
A basin is a large area holding a thick accumulation of sedimentary rock.
The standard unit of measurement for all production and sales. One barrel = 159 litres or 35 imperial gallons.
Billion cubic feet, a billion defined as 1,000,000,000. On average 1 bcf of sales gas = 1.055 petajoules.
Barrels of oil equivalent. The factor used by Santos to convert volumes of different hydrocarbon production to barrels of oil equivalent.
Barrels of oil per day.
A measure of greenhouse gases (e.g. carbon dioxide, methane, nitrous oxide) with the equivalent global warming potential as carbon dioxide when measured over a specific time.
A natural gas liquid that occurs in association with natural gas and is mainly composed of pentane and heavier hydrocarbon fractions.
Those quantities of hydrocarbons which are estimated, on a given date, to be potentially recoverable from known accumulations, but which are not currently considered to be commercially recoverable. Contingent resources may be of a significant size, but still have constraints to development. These constraints, preventing the booking of reserves, may relate to lack of gas marketing arrangements or to technical, environmental or political barriers.\
A general term for unrefined liquid petroleum or hydrocarbons.
Santos Ltd and its subsidiaries.
Predominantly methane gas stored within coal deposits or seams.
Depreciation, depletion and amortisation of building, plant and equipment, exploration and development expenditure.
Comprises two categories: near-field exploration wells and appraisal wells. Near-field exploration wells are wells located near existing fields/discoveries and have a higher expectation of success than wildcat exploration wells. These wells test independent structures or traps and have a higher risk of failure than appraisal or development wells. An appraisal well is a well drilled for the purpose of identifying extensions to known fields or discoveries.
Wells designed to produce hydrocarbons from a gas or oil field within a proven productive reservoir defined by exploration or appraisal drilling.
Earnings before interest and tax.
Earnings before interest and tax, depreciation, depletion and amortisation of building, plant and equipment, exploration and development expenditure and amortisation of goodwill.
Exploration and delineation expenditure per annum divided by reserve additions net of acquisitions and divestments.
Compounds containing only the elements hydrogen and carbon, which may exist as solids, liquids or gases.
Joules are the metric measurement unit for energy.
A gigajoule (GJ) is equal to 1 joule × 109
A terajoule (TJ) is equal to 1 joule × 1012
A petajoule (PJ) is equal to 1 joule × 1015
A sales product in liquid form; for example condensate and LPG.
Natural gas that has been liquefied by refrigeration to store or transport it. Generally, LNG comprises mainly methane.
A statistical measure of health and safety performance, calculated a the number of hours worked. A lost-time injury is a work-related injury or illness that results in a persons disability, or time lost from work of one day shift or more.
A mixture of light hydrocarbons derived from oilbearing strata which is gaseous at normal temperatures but which has been liquefied by refrigeration or pressure to store or transport it. Generally, LPG comprises mainly propane and butane.
The average of the range of recoverable resources.
Million barrels of oil equivalent.
Million standard cubic feet per day.
A mixture of liquid hydrocarbons of difference molecular weights.
Crude oil, condensate, or its derivative naphtha, and the liquefied petroleum gases propane and butane.
Petajoules. Joules are the metric measurement unit for energy. A petajoule equals 1,000,000,000,000,000 joules. The equivalent imperial measure to joules is British Thermal Units (BTU). One
kilojoule = 0.9478 BTU.
Proven reserves (1P) are those reserves that, to a high degree of certainty (90% confidence), are recoverable. There is relatively little risk associated with these reserves. Proven developed reserves are reserves that can be recovered from existing wells with existing infrastructure and operating methods. Proven undeveloped reserves require development.
Proven plus Probable reserves (2P) are those reserves that analysis of geological and engineering data suggests are more likely than not to be recoverable. There is at least a 50% probability that reserves recovered will exceed Proven plus Probable reserves.
Proven, Probable plus Possible reserves (3P) are those reserves that, to a low degree of certainty (10% confidence), are recoverable. There is relatively high risk associated with these reserves.
Those quantities of hydrocarbons which are estimated, on a given date, to be potentially recoverable from known accumulations, but which are not currently considered to be commercially recoverable. Contingent resources may be of a significant size, but still have constraints to development. These constraints, preventing the booking of reserves, may relate to lack of gas marketing arrangements or to technical, environmental or political barriers.
Production sharing contract.
Exploration, delineation and development expenditure per annum divided by reserve additions net of acquisitions and divestments. Development includes all development and fixed asset expenditure net of stay-in-business and corporate capital expenditure.
Resource potential refers to those quantities of petroleum yet to be discovered. It may refer to single opportunities or a group of opportunities.
Return on average equity.
Return on average capital employed.
Santos Ltd and its subsidiaries.
A survey used to gain an understanding of rock formations beneath the earth’s surface.
Trillion cubic feet.
Terajoules. Joules are the metric measurement unit for energy. A terajoule equals 1,000,000,000,000 joules.
A statistical measure of safety performance. Total recordable case frequency rate is calculated as the total number of recordable cases (medical treatment injuries and lost time injuries) per million hours worked. A lost time injury is a work-related injury or illness that results, or would result, in a permanent disability or time lost of one complete shift or day or more any time after the injury or illness. A medical treatment injury is a work-related injury or illness, other than a lost time injury, where the injury is serious enough to require more than minor first aid treatment. Santos classifies injuries that result in modified duties as medical treatment injuries.
Exploration wells testing new play concepts or structures distanced from current fields.
crude oil 1 barrel = 1 boe
sales gas 1 petajoule = 171,937 boe
condensate/naphtha 1 barrel = 0.935 boe
LPG 1 tonne = 8.458 boe
Santos’ online Conversion Calculator instantly computes equivalent values of the most common units of measurement in the oil and gas industry.