The A-Z of the Energy Industry

As a global leader in energy software serving the industry for 25 years, we’ve created this energy industry terminology glossary drawing from our team’s extensive knowledge and combined experience of the oil and gas industry. This glossary is published as a reference guide to understand commonly used terms and phrases.

We’ve highlighted 3 we think you should know.

Business Planning

Business planning is all about making smart choices. It helps companies pick the right investments and plans that fit their goals. This is super important for every business, but it’s even more crucial when we talk about oil and gas. In this field, understanding what business planning really means can make a huge difference.

Read this article to learn “What Business Planning Is and Is Not” in oil and gas.

Execution Team

In simple terms, the execution team is responsible for the overall execution. The team is typically comprised of a multi-disciplinary group with workflows for AFEs, budgeting, scheduling, and delivery.

Watch this demo of our Execute application to see how we support execution teams for oil and gas companies. 

Portfolio Effect 

In finance, the Portfolio Effect is a term used to describe the fact that the risk in a portfolio of non-correlated investments is lower than the risk of a single investment. You can read on in the glossary to further understand methods or take a step back to learn about portfolio analysis for oil and gas.

Read this blog to learn what portfolio analysis is and how it works.

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