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IndustryGlossary Term

Custody Transfer

The formal handover point where ownership or responsibility for a measured quantity of oil, gas, or other product moves from one party to another — typically triggering billing, invoicing, or contractual obligations for subcontractors involved in metering, transport, or handling operations. Field service crews working custody transfer points must ensure measurements are accurate and fully documented, as discrepancies can directly affect client invoices and liability.

Related Terms

Best-Value Selection

Industry

A contractor award method where clients evaluate price alongside factors like safety record, experience, and equipment quality. Subcontractors are not automatically disqualified for submitting the lowest bid. Demonstrating strong credentials and reliability can outweigh a competitor's cheaper rate.

Bakken Play

Industry

A major tight-oil producing region spanning North Dakota, Montana, and southern Saskatchewan and Manitoba. Subcontractors working here should expect high-volume horizontal drilling and multi-stage fracturing scopes. Seasonal road bans and remote logistics significantly impact crew mobilisation and equipment scheduling.

Stress-Corrosion Cracking

Industry

A failure mode where metal components crack under the combined effect of tensile stress and corrosive environments. Subcontractors must inspect susceptible equipment — like pipelines, pressure vessels, and lifting gear — for early signs. Missed SCC (Stress-Corrosion Cracking) damage can trigger costly shutdowns, liability claims, or failed inspections.

Screening Circuit

Industry

A series of vibrating screens used on-site to separate solids by size from drilling fluids or aggregates. Subcontractors operating or maintaining this equipment must track run-hours carefully for service billing. Screen cloth replacement is a common scope item in solids-control contracts.

Montney (shale Formation)

Industry

A major tight gas and liquids-rich formation spanning northeastern British Columbia and northwestern Alberta. It is one of Canada's most active drilling regions, generating sustained demand for well service, completions, and civil contractors. Subcontractors working here should expect multi-well pad programmes and remote site logistics.

Shaker Screens

Industry

Mesh filters mounted on shale shakers that separate drill cuttings from drilling fluid on the rig. Subcontractors handling fluid management or solids control must track screen condition and swap them regularly. Damaged or plugged screens slow operations and can trigger downtime charges against your crew.

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