Definition of Production, natural gas, wet after lease separation

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TeachMeFinance.com - explain Production, natural gas, wet after lease separation



Production, natural gas, wet after lease separation -- The volume of natural gas withdrawn from reservoirs less (1) the volume returned to such reservoirs in cycling, repressuring of oil reservoirs, and conservation operations; less (2) shrinkage resulting from the removal of lease condensate; and less (3) nonhydrocarbon gases where they occur in sufficient quantity to render the gas unmarketable. Note - Volumes of gas withdrawn from gas storage reservoirs and native gas that has been transferred to the storage category are not considered part of production. This production concept is not the same as marketed production, which excludes vented and flared gas.




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Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".


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