An employee of an operator who is responsible for gauging the oil and gas sold off the leases he has been assigned and who is also responsible for maintaining and reporting the daily production. A trust or association that invests in a variety of real estate. REITs are managed by one or more trustees, like a mutual fund, and trade like a stock. Individual investors can be taxed. Any major operation performed on a well after its completion in an attempt to restore or improve its ability to produce.
Many wells produce salt water while producing oil.
The disposal of this water is a problem to an operator because of pollution. The best solution to the problem is to pump the waste back into a formation that is deep enough not to pollute shallow water sands. Many stripper wells which are no longer commercial are converted for this purpose. A broad term encompassing any method of extracting oil from a reservoir after a well or field has exhausted its primary production. The second phase of production in the producing life of a well.