Exploration phase

The phase of operations which covers the search for oil or gas by carrying out detailed geological and geophysical surveys followed up where appropriate by exploratory drilling. Exploratory Well Any oil or gas well drilled for the purpose of securing geological or geophysical information to be used in the exploration or development of oil, natural gas, gas, geothermal, or other mineral resources, except coal and uranium, and includes what is commonly referred to in the industry as “slim hole tests,” “core hole tests,” or “seismic holes”.
Extraction Loss The reduction in volume and energy content of natural gas resulting from the removal of natural gas liquid constituents

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