Wildcatters · Education & research

Wildcatters Learn

Wildcatters Learn is a public oil and gas knowledge library pairing practical guides with concise definitions of ownership, operations, well identity, production, compliance, and lifecycle terms. Learn what the terminology means, why it matters, and how to connect it to property and regulatory research.

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11 guides across the library

Featured · reviewed September 11, 2026

Updated guides for your next question

Definitions → context → next steps

Well lifecycle

5 min read

What does it mean to spud a well?

Understand spud dates, the stages from drilling to production, and how to check the well records behind a reported drilling start.

Why it matters

Separate the start of drilling from completion and first production.

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Mineral rights

7 min read

How to sell mineral rights

Prepare a mineral rights sale with a document checklist, offer comparison, title diligence, partial-sale questions, and closing considerations.

Why it matters

Prepare ownership records and compare what each offer actually transfers.

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Ownership and interests

6 min read

What is a working interest in oil and gas?

Compare working interest, royalty interest, and net revenue interest, with a hypothetical cost-and-revenue example and agreement-review questions.

Why it matters

Understand why a share of costs can differ from a share of revenue.

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Leasing and selling

6 min read

Leasing versus selling mineral rights

Compare the rights, payments, duration, and obligations involved in leasing or selling mineral rights, including partial-sale considerations.

Why it matters

Compare retained rights, payments, and the terms of the actual agreement.

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Mineral rights

8 min read

How are mineral rights valued?

Learn how ownership records, lease terms, production reporting, development evidence, and transaction terms frame a mineral-rights valuation question without relying on a universal multiple.

Why it matters

Frame a valuation question with title, lease, operating, and transaction evidence.

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Production and completions

5 min read

What is a drilled but uncompleted well?

Learn what DUC status means, why completion can be delayed, and how to research completion and production records for an individual well.

Why it matters

Recognize what an uncompleted well can—and cannot—tell you about timing.

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Concepts · the language behind the records

Oil and gas concept library

20 concepts · 6 categories

Quick definitions and research context from the Intelligence Learn library. Regulator-specific terms retain their source meaning; a filing, a status, and a reported event are different kinds of evidence.

Search concepts and abbreviations

20 of 20 concepts

Ownership

Net Mineral Acres (NMA)

Quick definition: The net mineral acreage attributable to an owner after applying the owner’s fractional mineral interest.
Why it matters: It expresses the quantity of mineral ownership being valued or conveyed.

Go deeper: Net Mineral Acres (NMA) →

Ownership

Net Revenue Interest (NRI)

Quick definition: The share of production revenue attributable to an interest after burdens such as royalty are applied.
Why it matters: It helps determine the revenue share associated with production.

Go deeper: Net Revenue Interest (NRI) →

Ownership

Working Interest (WI)

Quick definition: An interest in an oil and gas leasehold carrying the right to explore and produce and the obligation to bear a share of costs.
Why it matters: Working-interest owners participate in revenue but also drilling, completion, operating, and liability exposure.

Go deeper: Working Interest (WI) →

Ownership

Royalty Interest

Quick definition: A right to receive a share of production revenue without bearing production costs.
Why it matters: Royalty interests differ materially from working interests in cost responsibility and control.

Go deeper: Royalty Interest →

Operations

Operator

Quick definition: The party responsible for physical oil and gas operations, including permits, crews, safety, and production administration.
Why it matters: The operator executes the work and coordinates non-operating partners.

Go deeper: Operator →

Operations

Drilled but Uncompleted (DUC)

Quick definition: A well that has been drilled but has not yet completed the work required to begin production.
Why it matters: DUCs represent drilled inventory that may require additional capital before production.

Go deeper: Drilled but Uncompleted (DUC) →

Operations

Drilling Permit

Quick definition: Regulatory authorization to drill or alter a well under the approved filing; it is not evidence that drilling or production occurred.
Why it matters: Permit activity can indicate planned operations, but must remain distinct from completed wells and reported production.

Go deeper: Drilling Permit →

Operations

Application for Permit to Drill (APD)

Quick definition: An application submitted to a regulator for authorization to drill. It is not evidence that drilling occurred.
Why it matters: Applications describe planned work and must remain distinct from approved permits and SPUD activity.

Go deeper: Application for Permit to Drill (APD) →

Operations

Intent to Drill

Quick definition: Oklahoma Corporation Commission terminology for a regulator filing describing proposed well work.
Why it matters: Wildcatters preserves the regulator’s term instead of relabeling every filing as a permit.

Go deeper: Intent to Drill →

Operations

Drilling Commencement (SPUD)

Quick definition: The reported date drilling commenced for a well.
Why it matters: A SPUD record is evidence of reported drilling activity, unlike a permit alone.

Go deeper: Drilling Commencement (SPUD) →

Operations

Well Completion

Quick definition: Regulator-reported work preparing a drilled well for its intended service or production.
Why it matters: Completion is a separate lifecycle stage from permitting, drilling, and production reporting.

Go deeper: Well Completion →

Identity

API Number / Well Identifier

Quick definition: A regulator-issued identifier for an oil or gas well. Formatting and identifier schemes vary by jurisdiction.
Why it matters: It is safer than a well-name match when connecting filings, production, and map records.

Go deeper: API (American Petroleum Institute) Number / Well Identifier →

Production

Production Reporting Entity

Quick definition: The well, lease, unit, or other entity to which a regulator assigns reported volumes.
Why it matters: Lease-level volumes cannot be allocated to individual wells without an authoritative relationship and allocation method.

Go deeper: Production Reporting Entity →

Production

Reporting Cadence / Conventional vs. Unconventional Reporting

Quick definition: Pennsylvania production cadence differs by source and well type: conventional records may be annual while unconventional records are monthly.
Why it matters: Annual observations must never be expanded into invented monthly values.

Go deeper: Production Reporting Cadence →

Compliance

Regulatory Inspection

Quick definition: A regulator record documenting an inspection of a well, facility, or regulated activity.
Why it matters: An inspection is not itself a violation; findings must come from the source record.

Go deeper: Regulatory Inspection →

Compliance

Regulatory Violation

Quick definition: A violation recorded by the regulator under its own program, status, and terminology.
Why it matters: Wildcatters does not infer violations or assign an unsupported severity score.

Go deeper: Regulatory Violation →

Compliance

Enforcement Action

Quick definition: A regulator action tied to a compliance matter through the source’s identifiers.
Why it matters: Penalties and relationships are shown only when the regulator supplies them.

Go deeper: Enforcement Action →

Compliance

Regulatory Incident

Quick definition: An incident record published by a regulator, such as an OCD C-141 or OCC incident record.
Why it matters: An incident must not be automatically treated as a violation, enforcement action, or severity ranking.

Go deeper: Regulatory Incident →

Lifecycle

Plugged Well

Quick definition: A well with regulator-reported plugging status or a plugging date in the connected source.
Why it matters: Plugged status is distinct from inactive, shut-in, or merely non-producing status.

Go deeper: Plugged Well →

Lifecycle

Inactive Well

Quick definition: A well identified as inactive under the terminology and status rules of its regulator.
Why it matters: Inactive does not automatically mean plugged, abandoned, or available for sale.

Go deeper: Inactive Well →

Continue learning

Explore the topic library

Well lifecycle

Horizontal drilling and laterals →

Explore well geometry and the role of a lateral in horizontal drilling.

Mineral rights

Inherited mineral rights →

Start with the ownership questions and documents that come with inherited interests.

Mineral rights valuation →

Explore the property information used when discussing mineral value.

Production and completions

New producing wells →

Read about the transition into production and the activity researchers follow.

Regulatory research

Drilling permits →

Understand the permitting stage and the records that precede drilling.

From explanation to evidence

Follow a research path

Follow a well through development

Start with permits, distinguish a spud from a completion, then review the source records.

Spud dates →DUC wells →Research well records →

Understand an interest before a transaction

Identify the ownership interest, compare lease and sale terms, and prepare the documents.

Working interests →Lease versus sell →Explore opportunities →

Education with source context

The five featured guides link to relevant primary sources, including EIA, the Railroad Commission of Texas, and IRS guidance. Check the source date, jurisdiction, and underlying documents when applying an explanation to a property. Educational guidance does not replace title review or advice for a specific legal or tax situation.

Continue with well and operator research →