| Days Receivable |
| Average accounts receivable multiplied by 365 days and divided by total sales. This indicates the average number of days that receivables are outstanding, and shows how effectively the company is collecting amounts due to it. |
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| Dealer Tankwagon (DTW) Price |
| The price paid by a branded dealer for petroleum products supplied by a major oil company. |
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| Debt/Equity Ratio |
| Short and long-term interest-bearing debt (including capital lease obligations), divided by shareholders' equity. Indicates the extent to which a company is financing its assets with debt, which is a riskier source of capital than equity. |
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| Decontrol |
| The removal of government controls on prices and other factors of market activity. |
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| Deepwater Port |
| A marine terminal constructed offshore to accommodate large vessels, in particular large tankers. The terminal is connected to shore by sumberged pipelines. |
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| Deferred Reserves |
| Those quantities of established reserves which for a specific reason, usually because of involvement in a recycling or pressure maintenance project, are not available for market. |
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| Deliverability |
| A general term used to refer to an actual or expected rate of natural gas production. |
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| Delivered |
| Often regarded as synonymous with CIF in the international cargo trade, its terms differ from the latter in a number of ways. Generally, the seller's risks are greater in a delivered transaction, since the buyer pays on the basis of landed quantity and quality. Risk and title are borne by the seller until such time as the fuel passes from shipboard through the connecting flange of the buyer's shore installation. Also, the seller is responsible for clearance through Customs, and payment of all duties. Any in-transit contamination or loss of cargo are the liability of the seller. In delivered transactions, the buyer pays only for the quantity of oil actually delivered into storage, not the amount of the Bill of Lading. |
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| Demand |
| In the electrical utility industry, the rate at which energy is delivered to or by a system, a part of the system, or a piece of equipment, expressed in kilowatts, or averaged over a disignated period of time. The primary source of "demand" is the power-consuming equipment of the customers. In general terms, the quantity of goods or services that an individual or group wants to buy at a given time. |
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| Density |
| The gravity of crude oil, indicating the proportion of large, carbon-rich molecules. |
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| Deposit |
| An accumulation of oil, gas, or other minerals capable of production. |
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| Depreciation |
| As applied to a depreciable electric plant, this term means the loss in service value, not restored by current maintenance, incurred in connection with the consumption or prosective retirement of the elctric plant in the course of service, from causes which are known to be in current operation, and against which utility is not protected by insurance. | |
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| Derrick |
| The tower-like structure that houses most of the drilling controls. |
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| Deuterium |
| An isotope of hydrogen containing one proton and one neutron in the nucleus. It is chemically similar to hydrogen, but it has different physical and nuclear properties. Its natural occurrence is about one part in 7,000 of hydrogen. In the form of heavy water (D2O), it is the most effective neutron moderator available for nuclear reactors. |
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| Development Well |
| A well drilled with the expectation of producing oil or gas from a known formation. Development wells are located in accordance with spacing regulations and filed development requirements. |
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| Diesel Index |
| A measure of the ignition quality of a given diesel fuel, equal to the product of its aniline point (in Fahrenheit degrees) and its API gravity, divided by 100. Diesel index is sometimes used as an alternative to cetane number. |
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| Directional Drilling |
| Drilling from a surface laction on a slant, rather than straight down. |
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| Dirty Cargo |
| A petroleum cargo, such as crude oil or heavy fuel oil, that leaves a significant quantity of residue in the holds of a tanker. |
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| Discovery Well |
| An exploratory well that encounters a previously untapped
oil or gas deposit. |
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| Discount Rate |
| A rate of interest representing the time-related value of resources. It is used to convert costs incurred at a given time to equivalent values at a specified time, usually in the future, for comparison purposes. |
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| Distillate |
| Petroleum products produced by the distillation of crude oil or similar feedstock. The term distillate (or "middle distillate") is often used loosely to refer to middle-range petroleum fractions, such as diesel fuel and furnace oil. Certain distillates may be referred to as "clean products" if they lack residue, or as "light products" if they are relatively low in specific gravity. |
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| Distributor |
| A wholesaler of gasoline and other petroleum products. Also known as a jobber. |
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| Domestic Production |
| Energy products produced within a country, in contrast with imported supplies. |
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| Downstream |
| An oil industry term referring to commercial petroleum operations beyond the crude production phase, in particular, refining (one step downstram from the wellhead) and marketing. |
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| Drill Stem Test |
| Conventional method of testing a formation to determine its potential productivity before installing production casing in a well. A testing tool is attached to the bottom of the drill pipe and placed opposite the formation to be tested which has been isolated by placing packers above and below the formation. Fluids in the formation are allowed to flow up through the drill pipe, by establishing an open connection between the formation and the surface. |
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| Drill String |
| The string of individual joints of pipe that extends from the bit to the kelly and carries the mud or any other lubricant down to the bit, and rotates the bit. |
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| Drilling |
| The act of boring a hole through which oil and/or gas may be produced if encountered in commercial quantities. |
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| Drilling Head |
| Rotation of the drilling bit for penetration. |
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| Drilling Rig |
| The surface equipment used to drill for oil or gas, consisting chiefly of a derrick, a winch for lifting and lowering drill pipe, a rotary table to turn the drill pipe, and engines to drive the winch and rotary table. |
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| Dry Gas |
| Natural gas composed mainly of methane with only minor
amounts of ethane, propane and butane and little or no heavier hydrocarbons
in the gasoline range. |
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| Dry Hole |
| A well that either finds no oil or gas, or finds too little to make it financially worthwhile to produce. |
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| Dry Natural Gas |
| Natural gas containing few or no natural gas liquids (ethane, propane or butane) or condensate. |
