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IndustryGlossary Term

Design-Bid-Build

A project delivery method where design is completed before subcontractors are invited to bid. Scope is fully defined upfront, reducing ambiguity in your quote. Common in construction; less flexible once awarded, so price your bid carefully.

Related Terms

Offtake Agreement

Industry

A long-term contract where a buyer commits to purchasing a set volume of product from a producer. For subcontractors, these agreements signal stable, ongoing site activity and sustained demand for field services. They often underpin project financing, making worksites more financially secure for service providers.

Shale Basin

Industry

A large geographic region containing shale rock formations targeted for oil and gas extraction through horizontal drilling and hydraulic fracturing. For subcontractors, shale basins like the Montney or Duvernay represent high-volume, multi-year work corridors. Expect cyclical demand, remote mobilisation, and repeat frac and completions contracts.

VRU (Vapour Recovery Unit)

Industry

A compression system that captures hydrocarbon vapours from storage tanks or production equipment instead of venting them. Subcontractors are often hired to install, maintain, or service VRUs to meet emissions regulations. Familiarity with VRU work is increasingly required on oil and gas production sites.

Spud Date

Industry

The date when drilling begins on a new well. Marks the start of drilling operations.

Horizontal Well

Industry

A well that is drilled vertically to a certain depth then curved to run horizontally through a target formation, requiring subcontractors to mobilise specialised equipment and crews for extended-reach drilling, completions, and stimulation work that typically involves more complex logistics and longer on-site durations than conventional vertical wells.

Combined Cycle

Industry

A power generation setup where waste heat from a gas turbine is reused to produce additional electricity via a steam turbine. Subcontractors working these facilities must be prepared for more complex systems and stricter safety protocols. Maintenance scopes are typically broader, covering both turbine types.

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