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Natural Gas

Gaseous forms of petroleum consisting of mixtures of hydrocarbon gases and vapours, the more important of which are methane, ethane, propane, butane, pentane and hexane; gas produced from a gas well. Natural Gas is usually classified as ‘wet’ or ‘dry’ depending on whether the proportions of gasoline constituents which it contains are large or small.

Net Present Value

Value of Net Cash Flows discounted at the Weighted Average cost of capital.

Net Pay

That portion of a formation considered to have enough permeability and oil and gas saturation to produce in sufficient paying quantities.

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