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IndustryGlossary Term

Recompletion

A recompletion involves re-entering an existing well to modify or replace the completion for a new producing zone. For subcontractors, it means shorter mobilisation windows and specialised wellbore intervention scopes. Crews should expect tight scheduling alongside active production operations.

Related Terms

Voluntary Cuts

Industry

Agreed reductions in oil production by member nations, typically OPEC (Organization of the Petroleum Exporting Countries) members, to stabilise prices. For subcontractors, these cuts often trigger project deferrals, reduced scope, and slower mobilisation schedules. Budget freezes from operators frequently follow, directly impacting field service award timelines.

Ngl (natural Gas Liquids) Value Chain

Industry

The full sequence of extracting, processing, transporting, and selling natural gas liquids such as propane, butane, and ethane. Subcontractors work across multiple stages, including plant turnarounds, pipeline installation, and fractionation facility maintenance. Activity levels and contract demand shift depending on which part of the chain is seeing investment.

Leasehold Acres

Industry

The total land area an operator has licensed to explore or produce hydrocarbons. Larger leasehold positions typically mean more sustained work for subcontractors across multiple well sites. It signals the operator's activity footprint and potential contract volume in a region.

Early-Works

Industry

Preliminary site preparation activities awarded before a project's main contract is finalised. For subcontractors, this means mobilising early—often under a letter of intent—to handle clearing, grading, or utility work. Scope and payment terms can be limited, so review your agreement carefully before committing resources.

BIM (Building Information Modelling)

Industry

A shared 3D digital model of a construction project that contains structural, mechanical, and site data. Subcontractors use it to coordinate work sequences, avoid clashes with other trades, and verify installation specs before mobilising. Access to the BIM model is often required before entering a worksite.

Refrigerated Storage

Industry

Temperature-controlled storage units used on job sites to preserve perishables, vaccines, or heat-sensitive materials. Subcontractors may need to supply or rent these units for remote or long-duration projects. Costs are typically itemised as a reimbursable expense in the contract.

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