The Oil and Gas sector uses lots of industry-specific jargon and new terminology to those who are new to the arena. To help get you clued up, we’ve put together our “Oil and Gas terminology series”.
Here, we look at the letter "Q", and a few words found within the Oil and Gas sector.
QA: Planned monitoring, testing and documenting of practices to show that a product or procedure meets established standards. Companies that deal in drilling fluid materials i.e. those that manufacture, process, sell, handle, ship or buy them, typically establish QA programmes, with some oil company labs also performing QA testing. API (American Petroleum Institute) and ISO (International Organization for Standardization) jointly issue specifications for mud materials. Generally, a mud supplier must meet certain specifications and adhere to quality testing practices in order to place an API logo on their product – suppliers are also required to pay to be eligible to use the logo.
Quad: A unit of measurement – a quadrillion of BTU's- used in connection with energy consumption. A barrel of crude oil contains 5.8 million BTU's, whereas natural gas contains about one million BTU's per MCF.
Quench Oil: Oil that is used to harden steel by controlling the heat transfer during the quenching process, enabling consistent metallurgical properties. Apart from hardenability, the oil can tolerate some other factors like thickness, degree of distortion and geometry.
Quicklime: A chemical with the formula CaO, sometimes called hot lime. When hydrated with one mole of water, it forms slaked lime, Ca(OH)2. Quick lime is generally used in preference to slaked lime at oil mud mixing plants because it generates heat when it becomes slaked with water, speeding up emulsification to form calcium fatty-acid soap.
Quitclaim Deed:a legal document pertaining to the transfer of any mineral rights, royalty interests and overriding royalty interest owned by any royalty interest owner, to oil and gas mineral acquisition organisations or any drilling organisation with no warranty of title. The entity who owns the mineral rights is called the “grantor” - when the grantor transfers royalty interests to another entity, this entity is called the “grantee”. This document does not contain any title covenant and therefore offers no warranty of title to the grantee.
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