In Order to Get Oil and Gas in Sufficient Quantities

question 57

Multiple Choice

In order to get oil and gas in sufficient quantities to make a profit,an oil trap must exist with ________.

• A)no fractures or structure
• B)permeability and porosity
• C)lateral continuity that allows fluids to migrate
• D)shale with little or no sulfur.

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Definitions:

Sales Volume

The total quantity of goods or services sold within a specific period, often used as an indicator of business performance.

Price Inelastic

A characteristic of goods or services whose demand does not significantly change with changes in price, indicating that consumers are relatively unresponsive to price adjustments.

Price Elastic

Describes a condition where the demand for a product or service changes significantly in response to a change in its price.

Price Volatile

describes a market condition where prices fluctuate unpredictably and often, which can affect buying and selling decisions.