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IndustryGlossary Term

Negative Gas Prices

Occurs when oversupply forces producers to pay buyers to take gas, signalling severe market stress. For subcontractors, this often triggers rapid project suspensions, deferred work orders, and delayed payments. Expect scope reductions and early contract terminations when prices turn negative.

Related Terms

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.

Sealed Bid

Industry

A confidential tender submission where subcontractors submit pricing without knowing competitors' rates. All bids are opened simultaneously by the hiring company. This process is common in public sector and large operator contracts across oil and gas and construction.

Booster Compressor

Industry

A secondary compressor used to increase gas pressure in pipelines or processing systems when inlet pressure is too low. Subcontractors are often hired to install, operate, or maintain these units on short-term field assignments. Rental and service contracts for booster compressors are common in late-life field operations.

PMC (Project Management Contractor)

Industry

A PMC is the company hired by an owner to oversee and manage an entire project on their behalf. As a subcontractor, the PMC is typically your primary point of contact for approvals, invoicing, and scope direction. They control schedule and budget, so understanding their reporting requirements is essential for getting paid on time.

Sources Sought

Industry

A notice issued by a client or prime contractor to identify qualified subcontractors before a formal tender is released. Responding helps get your company on the bidders list. It is not a contract offer, but skipping it can mean missing the actual bid.

Preventive Maintenance

Industry

Scheduled servicing of equipment before failures occur, reducing costly downtime on job sites. Subcontractors are often contracted specifically to perform PM work on client assets. Documented PM records also support compliance audits and contract renewals.

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