Glossary of Terms

This section provides definitions for common acronyms and technical terms used throughout the Dash platform.

ALS (Artificial Lift System): The method used to bring fluids to the surface when natural reservoir pressure is insufficient (e.g., Gas Lift, ESP, Rod Pump).
b-factor: The Arps decline exponent that describes the curvature of the decline trend, ranging from 0 (exponential) to >1 (hyperbolic).
Base Production: The forecasted production of existing, actively producing wells in a field, serving as the foundational forecast for Field Development Plans.
Bbl (Barrel): The standard unit of volume for crude oil, equal to 42 US gallons.
BHP (Bottom Hole Pressure): The pressure measured or calculated at the depth of the producing formation.
BOE (Barrel of Oil Equivalent): A unit of energy based on the approximate energy released by burning one barrel of crude oil, used to aggregate gas and oil production (commonly using 5,615 scf/BOE).
CAPEX (Capital Expenditure): The major upfront costs associated with drilling, completing, and equipping a well.
CGR (Condensate-Gas Ratio): The ratio of produced condensate to produced gas.
Conventional Reservoir: A reservoir in which buoyant forces drive hydrocarbons into a trap, allowing fluids to flow naturally to the wellbore without extensive stimulation.
DCA (Decline Curve Analysis): A method of forecasting future oil and gas production based on historical production trends.
DEET (Deterministic Economic Evaluation Tool): An economic modeling module that uses single, fixed values for all inputs to calculate a single set of economic outcomes.
Di (Initial Decline Rate): The nominal initial decline rate of production at the start of a forecast.
Dlim (Limiting Decline Rate): The minimum decline rate allowed in a hyperbolic forecast before it switches to exponential decline, preventing unrealistic late-life production.
ETL (Extract, Transform, Load): The automated process of extracting data from source systems, transforming it into a structured format, and loading it into Dash.
EUR (Estimated Ultimate Recovery): The total volume of hydrocarbons expected to be economically recovered from a well.
FDP (Field Development Plan): A comprehensive plan detailing the scheduling, drilling, and completion sequence for a group of wells or pads.
FH (Frac Hit): The physical communication and interference between an actively fracturing well and a nearby producing well, often leading to a temporary or permanent loss of production in the producing well.
GOR (Gas-Oil Ratio): The ratio of produced gas volume to produced oil volume.
Heel: The point in a horizontal wellbore where it transitions from the vertical or curve section into the lateral section.
IP (Initial Production): The peak or initial flow rate of a well, often recorded over the first 24 hours, 30 days, or 90 days.
IRR (Internal Rate of Return): The discount rate that makes the net present value (NPV) of all cash flows from a particular project equal to zero.
Lateral Segment: The horizontal portion of the wellbore from the Heel to the Toe, placed within the target formation.
Mcf: One thousand cubic feet, the standard measure of natural gas volume.
MD (Measured Depth): The total length of the wellbore measured along the actual path of the well from the surface to the bottom.
Monte Carlo Simulation: A mathematical technique that generates random values for uncertain variables to model the probability of different outcomes, heavily utilized in PEET.
NPV (Net Present Value): The current value of future cash flows, discounted at a specific rate (e.g., NPV10 uses a 10% discount rate).
OPEX (Operating Expenditure): The ongoing costs required to operate and maintain a producing well (e.g., water disposal, lease operating expenses).
P10 / P50 / P90: Statistical confidence intervals representing the probability of exceeding a certain volume or value (e.g., P90 indicates a 90% probability that production will equal or exceed the estimate; P10 indicates a 10% probability).
Pad: A consolidated surface location from which multiple horizontal wells are drilled and completed to minimize surface footprint and operational costs.
PC (Parent-Child Interference): The effect of pressure depletion caused by an older producing well (Parent) on a newly drilled nearby well (Child).
PEET (Probabilistic Economic Evaluation Tool): An economic modeling module that uses statistical distributions and Monte Carlo simulations to generate a range of probable economic outcomes.
Proppant: A solid material, typically sand or man-made ceramic, used to keep an induced hydraulic fracture open during and after completion.
PVT (Pressure Volume Temperature): Laboratory or correlated data describing the thermodynamic behavior of reservoir fluids under varying conditions.
RNP (Rate Normalized Pressure): A diagnostic calculation where pressure drop is divided by production rate, used to identify reservoir flow regimes.
Ro (Vitrinite Reflectance): A measure of the thermal maturity of organic matter in source rocks, indicating whether a formation is oil or gas prone.
SPEE (Society of Petroleum Evaluation Engineers): A professional organization that provides guidelines and standards for the evaluation of hydrocarbon reserves.
Spud Date: The date when drilling operations begin at the well site.
TOC (Total Organic Carbon): The amount of carbon found in an organic compound, used as an indicator of the petroleum generation potential of a source rock.
Toe: The deepest or furthest point of the lateral section in a horizontal well.
TVD (True Vertical Depth): The absolute vertical distance from the wellhead to the bottom of the well.
Type Well (Type Curve): A representative production profile generated by aggregating historical data from multiple analogous wells to forecast new well performance.
Unconventional Reservoir: A reservoir (like shale) with very low permeability requiring extensive hydraulic fracturing to produce at economic rates.
WHP (Wellhead Pressure): The pressure measured at the surface of the well.
WOR (Water-Oil Ratio): The ratio of produced water volume to produced oil volume.
Zipper Frac: A completion technique where two or more parallel horizontal wells are fractured alternately to improve fracture complexity and efficiency.