PETE Fundamentals: Exam 1 Overview
1)Consumption
2)Production
3)Inventories
4)Spare Production Capacity
5)Geopolitical Risks
6)Market Variables - correct answer ✔✔List the variables that move oil prices in order
Reservoir Engineer - correct answer ✔✔Work to optimize production of oil and gas via proper well
placement, production rates, and enhanced oil recovery techniques (asset managers)
Drill Engineers - correct answer ✔✔Manage technical aspects of drilling exploratory, production and
injection wells (poking hole in ground)
Production Engineers - correct answer ✔✔Include subsurface engineers, manage interface between
reservoir and well, including perforations, sand control, downhole flow control, downhole monitoring
equipment; evaluate artificial lift methods; and also select surface equipment that separates the
produced fluids (oil, natural gas, water)
Well Log Analysts - correct answer ✔✔Evaluates the well to determine the ability of the borehole to
produce petroleum (petrophysicists)
Effective Porosity - correct answer ✔✔The interconnected pore volume or void space in a rock that
contributes to fluid flow or permeability in a reservoir. This excludes isolated pores and pore volume
occupied by water adsorbed on clay minerals or other grains.
Total Porosity - correct answer ✔✔The total void space in the rock whether or not it contributes to fluid
flow.
Organic Theory - correct answer ✔✔Petroleum was formed from the remains of plants and animals
, Inorganic Theory - correct answer ✔✔Petroleum is either left over from the formation of the solar
system or was formed later deep within the earth when hydrogen and carbon came together as a result
of heat and pressure on minerals
Gas Cap - correct answer ✔✔This will be present in a reservoir if the reservoir oil is below it's bubble
point at the time of discovery
Porosity - correct answer ✔✔Percentage of void space in a rock
Pore Space Volume/ Total Volume - correct answer ✔✔Equation for Porosity
Permeability - correct answer ✔✔The ability of a reservoir to permit the flow of fluids
Permeability and OOIP - correct answer ✔✔What does wetting water affect?
Structural Trap - correct answer ✔✔Occur when the reservoir formation deforms in some way
Stratigraphic Trap - correct answer ✔✔Porosity and or permeability has changed within a formation or
where a nonporous layer seals off the top of a reservoir
Petroleum Trap - correct answer ✔✔An underground rock formation that blocks the movement of
petroleum and causes it to accumulate in a reservoir that can be exploited.
Anticline Trap - correct answer ✔✔Rock layers that were originally laid down horizontally became folded
upward into an arch
Fault Trap - correct answer ✔✔Caused by earth movement, a fracture or break in rock layers caused
earth movement. This is a type of structural trap
1)Consumption
2)Production
3)Inventories
4)Spare Production Capacity
5)Geopolitical Risks
6)Market Variables - correct answer ✔✔List the variables that move oil prices in order
Reservoir Engineer - correct answer ✔✔Work to optimize production of oil and gas via proper well
placement, production rates, and enhanced oil recovery techniques (asset managers)
Drill Engineers - correct answer ✔✔Manage technical aspects of drilling exploratory, production and
injection wells (poking hole in ground)
Production Engineers - correct answer ✔✔Include subsurface engineers, manage interface between
reservoir and well, including perforations, sand control, downhole flow control, downhole monitoring
equipment; evaluate artificial lift methods; and also select surface equipment that separates the
produced fluids (oil, natural gas, water)
Well Log Analysts - correct answer ✔✔Evaluates the well to determine the ability of the borehole to
produce petroleum (petrophysicists)
Effective Porosity - correct answer ✔✔The interconnected pore volume or void space in a rock that
contributes to fluid flow or permeability in a reservoir. This excludes isolated pores and pore volume
occupied by water adsorbed on clay minerals or other grains.
Total Porosity - correct answer ✔✔The total void space in the rock whether or not it contributes to fluid
flow.
Organic Theory - correct answer ✔✔Petroleum was formed from the remains of plants and animals
, Inorganic Theory - correct answer ✔✔Petroleum is either left over from the formation of the solar
system or was formed later deep within the earth when hydrogen and carbon came together as a result
of heat and pressure on minerals
Gas Cap - correct answer ✔✔This will be present in a reservoir if the reservoir oil is below it's bubble
point at the time of discovery
Porosity - correct answer ✔✔Percentage of void space in a rock
Pore Space Volume/ Total Volume - correct answer ✔✔Equation for Porosity
Permeability - correct answer ✔✔The ability of a reservoir to permit the flow of fluids
Permeability and OOIP - correct answer ✔✔What does wetting water affect?
Structural Trap - correct answer ✔✔Occur when the reservoir formation deforms in some way
Stratigraphic Trap - correct answer ✔✔Porosity and or permeability has changed within a formation or
where a nonporous layer seals off the top of a reservoir
Petroleum Trap - correct answer ✔✔An underground rock formation that blocks the movement of
petroleum and causes it to accumulate in a reservoir that can be exploited.
Anticline Trap - correct answer ✔✔Rock layers that were originally laid down horizontally became folded
upward into an arch
Fault Trap - correct answer ✔✔Caused by earth movement, a fracture or break in rock layers caused
earth movement. This is a type of structural trap
