Exploration Well

A budgeting document used in oil and gas projects that outlines expected costs and seeks approval before work begins. Subcontractors often work under AFEs issued by operators.

The collection of drilling tools and equipment at the bottom of the drill string, including the drill bit, drill collars, stabilizers, and downhole motors. For drilling subcontractors, BHA configuration directly impacts drilling performance, tool wear rates, and operational efficiency.

A contract between an operator and a service company that establishes the general terms and conditions for all future work. Individual jobs are then executed under work orders or AFEs referencing the MSA.

The segment of the oil and gas industry involved in processing, storing, and transporting oil, gas, and NGLs. Includes pipelines, gathering systems, and processing plants.

A project delivery model where one main contractor handles all phases from design to completion, typically creating multiple subcontracting opportunities for field service companies across different project phases. For subcontractors, EPC projects often mean working under a prime contractor who coordinates all trades and manages the overall timeline and specifications.

A contractually obligated set of activities and expenditures an operator must complete within a set timeframe, typically tied to a licence or lease agreement; for subcontractors, this creates predictable scopes of work and mobilisation opportunities as operators must execute these commitments or risk losing their rights to the asset.