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IndustryGlossary Term

Master Service Agreement (MSA)

Related Terms

Frac Water Logistics

Industry

The planning and execution of sourcing, transporting, and disposing of water used in hydraulic fracturing operations. Subcontractors may be engaged for trucking, pipeline installation, pumping, or water treatment services. Accurate job scoping is critical, as water volumes and haul distances directly affect equipment needs and bid pricing.

Pressure Pumping

Industry

A well stimulation service involving the high-pressure injection of fluids — such as fracturing fluid, cement, or acid — into a wellbore to improve production or complete the well; for subcontractors, it represents a specialised, equipment-intensive scope of work that typically requires certified operators, dedicated pump trucks, and close coordination with the primary operator on site.

Ip120 (initial Production 120-Day Rate)

Industry

The average daily production output of a new well over its first 120 days. Operators use this benchmark to schedule and extend field service contracts. Strong IP120 results often trigger follow-on work for completions and production crews.

Long-Haul Pipeline

Industry

A large-diameter transmission pipeline moving oil, gas, or NGLs over hundreds or thousands of kilometres between facilities. For subcontractors, these projects involve extended mobilisation, multi-phase scopes, and strict regulatory oversight. Work typically includes welding, coating, hydrotesting, and right-of-way clearing across varied terrain.

BOEPD (Barrels of Oil Equivalent Per Day)

Industry

A standardised measure combining oil, gas, and NGL output into a single daily production figure. Operators use it to size contracts and scope field service requirements. Higher BOEPD targets typically mean more crews, equipment, and sustained subcontractor workload.

Turnkey

Industry

A contract where the subcontractor delivers a fully completed scope for a fixed price, assuming all cost and schedule risk. The client pays only upon project completion, not for time or materials spent. This model demands tight cost control, as overruns come directly out of your margin.

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