National Oilwell Varco 2010 Annual Report Download - page 27

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Sucker rod A special steel pumping rod. Several rods screwed together make up the link between the pumping unit on
the surface and the pump at the bottom of the well.
Tensioner A system of devices installed on a floating offshore drilling rig to maintain a constant tension on the riser
pipe, despite any vertical motion made by the rig. The guidelines must also be tensioned, so a separate
tensioner system is provided for them.
Thermal desorption The process of removing drilling mud from cuttings by applying heat directly to drill cuttings.
Tiebacks (Subsea) A series of flowlines and pipes that connect numerous subsea wellheads to a single collection point.
Top drive A device similar to a power swivel that is used in place of the rotary table to turn the drill stem. It also
includes power tongs. Modern top drives combine the elevator, the tongs, the swivel, and the hook. Even
though the rotary table assembly is not used to rotate the drill stem and bit, the top-drive system retains it to
provide a place to set the slips to suspend the drill stem when drilling stops.
Torque wrench Spinning wrench with a gauge for measuring the amount of torque being applied to the connection.
Trouble cost Costs incurred as a result of unanticipated complications while drilling a well. These costs are often referred
to as contingency costs during the planning phase of a well.
Well completion 1. The activities and methods of preparing a well for the production of oil and gas or for other purposes, such
as injection; the method by which one or more flow paths for hydrocarbons are established between the
reservoir and the surface. 2. The system of tubulars, packers, and other tools installed beneath the wellhead
in the production casing; that is, the tool assembly that provides the hydrocarbon flow path or paths.
Wellhead The termination point of a wellbore at surface level or subsea, often incorporating various valves and control
instruments.
Well stimulation Any of several operations used to increase the production of a well, such as acidizing or fracturing.
Well workover The performance of one or more of a variety of remedial operations on a producing oil well to try to increase
production. Examples of workover jobs are deepening, plugging back, pulling and resetting liners, and
squeeze cementing.
Wellbore A borehole; the hole drilled by the bit. A wellbore may have casing in it or it may be open (uncased); or part
of it may be cased, and part of it may be open. Also called a borehole or hole.
Wireline A slender, rodlike or threadlike piece of metal usually small in diameter, that is used for lowering special
tools (such as logging sondes, perforating guns, and so forth) into the well. Also called slick line.
ITEM 1B. UNRESOLVED STAFF COMMENTS
During 2010 the Company received written comments from the SEC regarding the Gulf of Mexico oil spill, the incidents potential impact on
the Companys business and results of operations, and the inclusion of additional disclosures in the Companys reports regarding the Company's
insurance policies. The Company has responded to the comments noting that its equipment was not involved in the incident and that its current
disclosures comply with the SEC's applicable rules and regulations. Therefore, the Company does not believe any new or additional disclosure in
its reports regarding the incident or insurance coverage is necessary or useful to investors.
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