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Industry Glossary Term

Voluntary Cuts

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.

Related Terms

Mobilization/Demobilization

Industry

The process of moving equipment and personnel to a job site (mobilization) and returning them afterward (demobilization). Often billed as separate line items.

Compression

Industry

The mechanical process of increasing natural gas pressure for pipeline transport or storage. Subcontractors are frequently mobilised to install, maintain, or repair compressor units and associated equipment. Compression work is common in gas processing facilities, wellsites, and midstream pipeline operations.

Master Service Agreement (MSA)

Industry

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.

Frac Campaign

Industry

A scheduled series of hydraulic fracturing operations across multiple wells or stages within a defined period, representing a concentrated burst of work that subcontractors must plan for with adequate crew, equipment, and supply chain capacity. For field service companies, winning a spot in a frac campaign can mean weeks of steady, high-volume work but also demands tight mobilisation timelines and the ability to scale up quickly.

Completions

Industry

The phase of oil and gas well development after drilling is finished, encompassing the work required to prepare a well for production — including perforating, fracturing, and installing wellhead equipment. For subcontractors, completions represent a concentrated burst of high-demand field work where specialised crews, equipment, and services are mobilised under tight timelines.

Well Testing

Industry

A series of controlled flow and pressure measurements performed on a newly drilled or existing well to evaluate its production potential and reservoir characteristics; for subcontractors, this work often involves deploying and operating specialised equipment such as separators, flowback units, and data acquisition systems under tightly scheduled, high-priority conditions.

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