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underlift/overlift

Spanish translation: extracción por exceso/extracción por defecto

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:underlift/overlift
Spanish translation:extracción por exceso/extracción por defecto
Entered by: Constanza Toro
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21:23 Jul 10, 2008
English to Spanish translations [PRO]
Tech/Engineering - Petroleum Eng/Sci
English term or phrase: underlift/overlift
Production "overlift or underlift "can occur in oil production
records
Mile13
Local time: 23:11
extracción por exceso/extracción por defecto
Explanation:
La “extracción por defecto” (underlift) constituye un derecho a recibir petróleo adicional de la producción futura o bien a recibir beneficios económicos equivalentes a un produccion futura.

La “extracción por exceso” (overlift) es la obligación de entregar petróleo con cargo a la participación de la entidad en la producción futura la obligación de transferir beneficios económicos equivalentes a un produccion futura.
Selected response from:

Constanza Toro
Argentina
Local time: 01:11
Grading comment
Gracias Constanza. Es exactamente lo que necesitaba!
4 KudoZ points were awarded for this answer

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Summary of answers provided
5extracción por exceso/extracción por defecto
Constanza Toro
3diferencia en mas/en menos con respecto a la parte que corresponde (en una transacción)
Rafael Martilotti


Discussion entries: 1





  

Answers


2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
diferencia en mas/en menos con respecto a la parte que corresponde (en una transacción)


Explanation:
Entity A and entity B jointly control a producing property. A has a 70% interest and B a 30% interest.
At the start of the year there is no overlift or underlift.
During the first half of the year, production costs of 7,500 are jointly incurred and 500 barrels of oil are produced. The cost of producing each barrel is therefore 15. There is no production in the second half of the year.
During the first half of the year A has taken 300 barrels and B has taken 200 barrels. Each sold the oil they took at 32 per barrel, the market price at the time. Entity A has underlifted by 50 barrels at year end and B has overlifted by 50 barrels.
http://www.pwc.com/gx/eng/about/svcs/corporatereporting/05So...

Rafael Martilotti
Argentina
Local time: 01:11
Native speaker of: Native in SpanishSpanish
Notes to answerer
Asker: Gracias Rafael.

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14 hrs   confidence: Answerer confidence 5/5
extracción por exceso/extracción por defecto


Explanation:
La “extracción por defecto” (underlift) constituye un derecho a recibir petróleo adicional de la producción futura o bien a recibir beneficios económicos equivalentes a un produccion futura.

La “extracción por exceso” (overlift) es la obligación de entregar petróleo con cargo a la participación de la entidad en la producción futura la obligación de transferir beneficios económicos equivalentes a un produccion futura.

Constanza Toro
Argentina
Local time: 01:11
Specializes in field
Native speaker of: Native in SpanishSpanish
PRO pts in category: 1133
Grading comment
Gracias Constanza. Es exactamente lo que necesitaba!
Login to enter a peer comment (or grade)




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Changes made by editors
Jul 11, 2008 - Changes made by Constanza Toro:
Created KOG entryKudoZ term » KOG term


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