FieldNews
Subscribe

Daily oil & gas and construction news for subcontractors

IndustryGlossary Term

Energy Storage

Systems that capture and hold power (batteries, flywheels, capacitors) for later use on remote or off-grid job sites. Subcontractors use them to reduce generator runtime and fuel costs. They are increasingly specified by clients in ESG-driven scopes.

Related Terms

Energy Security

Industry

A nation's ability to maintain reliable, uninterrupted energy supplies. For subcontractors, it drives long-term project demand in oil, gas, and infrastructure. Governments prioritising energy security often accelerate capital spending, creating sustained work opportunities.

Alternative Delivery Models

Industry

Contracting arrangements beyond traditional lump-sum or day-rate structures, such as alliance, integrated project delivery, or performance-based contracts. These models shift how subcontractors are engaged, paid, and held accountable for outcomes. Understanding them helps field service firms assess risk, pricing strategy, and scope responsibilities before signing.

EIA (Energy Information Administration)

Industry

A U.S. federal agency that publishes energy data, forecasts, and market reports. Subcontractors use EIA reports to track oil and gas price trends and anticipate shifts in project demand. Monitoring EIA data helps field service companies time bids and resource planning.

Completions

Industry

The phase of oil and gas well development after drilling is finished, encompassing the work required to prepare a well for production — including perforating, fracturing, and installing wellhead equipment. For subcontractors, completions represent a concentrated burst of high-demand field work where specialised crews, equipment, and services are mobilised under tight timelines.

Bonus Bid

Industry

A lump-sum payment made by an operator to secure rights to a lease block, separate from royalties. For subcontractors, a large bonus bid signals operator commitment and can indicate upcoming project activity in that area.

WCB (Workers' Compensation Board)

Industry

Provincial agencies in Canada that provide workplace injury insurance. Contractors must maintain WCB coverage and good standing to work on most sites.

Stay sharp on field operations

Industry news and insights, delivered to your inbox.

Subscribe to FieldNews
A community project byAimsio