Afe acronym oil and gas

As a result, they must be segregated in the cost estimate. Quick search. Wikipedia list article. Until we have completed such steps, we will not be deemed to have a lawyer-client relationship with you, and will have no duty to keep confidential the information we receive from you. It could be an important question that which Workflow design to refer to address What Requirement:.

This particular term is used in order to drilling and completion costs. An authorization for expenditure must be followed up by an actual cost accounting, because your project may come in under or over the authorized budget. Gold Sponsor. He founded Entrance in Network International Oilfield Glossary.

Acreage is used as a measure of the amount of land that is the subject of an agreement or proposed transaction. Assigned tags. Supplemental AFEs are often tied to initial authorizations for unplanned, but related work. Analytics cookies. The AAA is the most commonly designated governing arbitration organization used in US domestic arbitration agreements and provisions.

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Before almost any well-related cost is incurred, it must be accounted for in an AFE. So in short, AFE is used for approval of large Capital expedenture related to exploration, development and production. If you received an answer, delete the abbreviation from this section, and add it to its alphabetical section If it is not there yet. The oil and gas industry uses many acronyms and abbreviations. It could be an important question that which Workflow design to refer to address What Requirement:. Very often abbreviations have multiple common meanings depending on the context they are used. In your business, on the other hand, you might use an AFE to purchase new software to upgrade your computer systems.
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So in short, AFE is used for approval of large Capital expedenture related to exploration, development and production. Analytics cookies. Namespaces Read Discussion. The term "funds employed" is usually applied to the funds and assets you've used during a fiscal year. Excellent article.
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We would like to use Google Analytics to analyse how visitors interact with our site so that we can continue to develop and improve it. The costs should address dry holes and completed wells. He founded Entrance in Preparing cost estimates for a well and getting management approval in the form of an AFE is the final step in well planning. Before almost any well-related cost is incurred, it must be accounted for in an AFE. Like 0.
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A sample of a detailed summary is shown in Fig. More information. Navigation menu Personal tools Log in. Petroleum Primary energy. Nate is the past President of the Board of LifeHouse Houston, a Christ-centered maternity home ministry, and is past Executive committee member and Treasurer of Houston Achievement Place, a foster care and social skills training non-profit organization. He founded Entrance in
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Views Read Edit View history. AFE has two possible meanings in accounting, depending where it crops up. Work Entrance. Posted on June 8, 1 minute read. Former Member.
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Afe acronym oil and gas:

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