FieldNews
Subscribe

Daily oil & gas and construction news for subcontractors

IndustryGlossary Term

Storage Cushion

A reserve volume of gas kept in an underground storage facility to maintain pressure and operability. For subcontractors, it affects seasonal work demand and mobilisation schedules near storage sites. Operators draw on or inject gas depending on market conditions, driving fluctuating service needs.

Related Terms

SCOOP (South Central Oklahoma Oil Province)

Industry

A major oil and gas play in south-central Oklahoma targeting Woodford and Springer shale formations. Subcontractors working this basin should expect high-volume drilling and completions activity. It is a key area for securing long-term field service contracts.

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.

Straddle Plant

Industry

A midstream processing facility installed along an existing pipeline to extract natural gas liquids like propane and butane. Subcontractors are frequently mobilised for construction, maintenance, and turnaround work at these sites. Work scopes often include compression, refrigeration, and fractionation system servicing.

Permanent Magnets

Industry

Fixed magnets that retain their magnetic field without external power, used in motors, sensors, and lifting equipment on job sites. Subcontractors handling this equipment must follow strict handling and storage protocols to prevent injury or tool damage. They are common in downhole tools, generators, and magnetic lifting devices.

Heads of Agreement (hoa)

Industry

A preliminary document outlining the key commercial terms agreed between parties before a formal contract is finalised. For subcontractors, it signals serious intent but is not always legally binding. Avoid mobilising crews or purchasing materials based solely on an HoA.

Takeaway Infrastructure

Industry

Pipelines, rail lines, and processing facilities that move product away from a well site or project area. Limited takeaway capacity can delay or shut down operations, directly affecting subcontractor schedules and utilisation. Always confirm takeaway status before committing crews and equipment to a project.

Stay sharp on field operations

Industry news and insights, delivered to your inbox.

Subscribe to FieldNews
A community project byAimsio