Effective 1 March 2016, Drillsearch Energy Limited is a wholly owned subsidiary of Beach Energy Limited. For latest information regarding the combined operations, please visit Beach’s web site at www.beachenergy.com.au. Please note the existing Drillsearch web site will close in due course.
Effective 1 March 2016, Drillsearch Energy Limited is a wholly owned subsidiary of Beach Energy Limited. For latest information regarding the combined operations, please visit Beach’s web site at www.beachenergy.com.au. Please note the existing Drillsearch web site will close in due course.

Glossary

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There are 24 names in this directory beginning with the letter C.
C&A
Cased and Suspended
C0<sup>2</sup>
Carbon Dioxide
CAPEX
Capital Expenditure
Carried Interest
A carried interest is an agreement under which one party (the carrying party) agrees to pay for a portion or all of the pre-production costs of another party (the carried party) on a license in which both own a portion of the working interest. This arises when the carried party is either unwilling to bear the risk of exploration or is unable to fund the cost of exploration or development directly. Owners may enter into carried interest arrangements with existing or incoming joint venture partners at the exploration stage, the development stage, or both.
CNG
Compressed Natural Gas (see Natural Gas)
Coal Seam Gas (CSG)
See Coalbed Methane
Coalbed Methane (CBM)
Natural gas contained in coal deposits, whether or not stored in gaseous phase. Coalbed methane, though usually mostly methane, may be produced with variable amounts of inert or even non-inert gases.
Commercial
A project is commercial if the degree of commitment is such that the accumulation is expected to be developed and placed on production within a reasonable time frame. A reasonable time frame for the initiation of development depends on the specific circumstances but, in general, should be limited to around 5 years.
Completion
Completion of a well. The process by which a well is brought to its final classification - basically dry hole, producer, or injector. A dry hole is completed by plugging and abandonment. A well deemed to be producible of petroleum, or used as an injector, is completed by establishing a connection between the reservoir(s) and the surface so that fluids can be produced from, or injected into the reservoir. Various methods are utilized to establish this connection, but they commonly involve the installation of some combination of borehole equipment, casing and tubing, and surface injection or production facilities.
Completion Interval
The specific reservoir interval(s) that is (are) open to the borehole and connected to the surface facilities for production or injection.
Concession
A grant of access for a defined area and time period that transfers certain rights to hydrocarbons that may be discovered from the host country to an enterprise. The enterprise is generally responsible for exploration, development, production and sale of hydrocarbons that may be discovered. Typically granted under a legislated fiscal system where the host country collects taxes, fees and sometimes royalty on profits earned.
Condensates
Condensates are a portion of natural gas of such composition that are in the gaseous phase at temperature and pressure of the reservoirs, but that, when produced, are in the liquid phase at surface pressure and temperature.
Contingent Project
Development and production of recoverable quantities has not been justified, due to conditions that may or may not be fulfilled.
Contingent Resources
Those quantities of petroleum which are estimated, on a given date, to be potentially recoverable from known accumulations but which are not currently considered to be commercially recoverable.
Continuous-Type Deposit
A petroleum accumulation that is pervasive throughout a large area and which is not significantly affected by hydrodynamic influences. Examples of such deposits include "basin-centre" gas and gas hydrate accumulations.
Conventional Crude Oil
Petroleum found in liquid form, flowing naturally or capable of being pumped without further processing or dilution (see Crude Oil).
Conventional Deposit
A discrete accumulation related to a localized geological structural feature and/or stratigraphic condition, typically with each accumulation bounded by a down-dip contact with an aquifer, and which is significantly affected by hydrodynamic influences, such as the buoyancy of petroleum in water.
Conventional Gas
Conventional Gas is a natural gas occurring in a normal porous and per- meable reservoir rock, either in the gaseous phase or dissolved in crude oil, and which technically can be produced by normal production practices.
Conveyance
Certain transactions that are in substance borrowings repayable in cash or its equivalent and shall be accounted for as borrowings and may not qualify for the recognition and reporting of oil and gas reserves. These include: 1) a) Cash advances to operators to finance exploration in return for the right to purchase oil or gas discovered. b) Funds advanced for exploration that is repayable by offset against purchases of oil or gas discovered, or in cash if insufficient oil or gas is produced by a specified date. 2) Funds advanced to an operator that are repayable in cash out of the proceeds from a specified share of future production of a producing property, until the amount advanced plus interest at a specified or determinable rate is paid in full, shall be accounted for as a borrowing and do not qualify for the recognition of reserves. The advance is a payable for the recipient of the cash and receivable for the party making the advance. Such transactions fall into a category commonly referred to as production payments.
Cost Recovery
Under a typical production-sharing agreement, the contractor is responsible for the field development and all exploration and development expenses. In return, the contractor recovers costs (investments and operating expenses) out of the gross production stream. The contractor normally receives payment in oil production and is exposed to both technical and market risks.
Crude Oil
Crude Oil is the portion of petroleum that exists in the liquid phase in natural underground reservoirs and remains liquid at atmospheric conditions of pressure and temperature. Crude Oil may include small amounts of non-hydrocarbons produced with the liquids. Crude Oil has a viscosity of less than or equal to 10,000 centipoises at original reservoir temperature and atmospheric pressure, on a gas free basis.
Crude Oil Equivalent
Converting gas volumes to the oil equivalent is customarily done on the basis of the heating content or calorific value of the fuel. There are a number of methodologies in common use. Before aggregating, the gas volumes first must be converted to the same temperature and pressure. Common industry gas conversion factors usually range between 1.0 barrel of oil equivalent (boe) = 5.6 thousand standard cubic feet of gas (mscf) to 1.0 boe = 6.0 mscf.
Cumulative Production
Production of oil and gas to date.
Current Economic Conditions
Establishment of current economic conditions should include relevant historical petroleum prices and associated costs and may involve an averaging period that is consistent with the purpose of the reserve estimate, appropriate contract obligations, corporate procedures, and government regulations involved in reporting these reserves.