Initial and terminal objectsIn , a branch of mathematics, an initial object of a C is an object I in C such that for every object X in C, there exists precisely one morphism I → X. The notion is that of a terminal object (also called terminal element): T is terminal if for every object X in C there exists exactly one morphism X → T. Initial objects are also called coterminal or universal, and terminal objects are also called final. If an object is both initial and terminal, it is called a zero object or null object.
Risk aversionIn economics and finance, risk aversion is the tendency of people to prefer outcomes with low uncertainty to those outcomes with high uncertainty, even if the average outcome of the latter is equal to or higher in monetary value than the more certain outcome. Risk aversion explains the inclination to agree to a situation with a more predictable, but possibly lower payoff, rather than another situation with a highly unpredictable, but possibly higher payoff.
Completion (oil and gas wells)Well completion is the process of making a well ready for production (or injection) after drilling operations. This principally involves preparing the bottom of the hole to the required specifications, running in the production tubing and its associated down hole tools as well as perforating and stimulating as required. Sometimes, the process of running in and cementing the casing is also included. After a well has been drilled, should the drilling fluids be removed, the well would eventually close in upon itself.
Casing (borehole)Casing is a large diameter pipe that is assembled and inserted into a recently drilled section of a borehole. Similar to the bones of a spine protecting the spinal cord, casing is set inside the drilled borehole to protect and support the wellstream. The lower portion (and sometimes the entirety) is typically held in place with cement. Deeper strings usually are not cemented all the way to the surface, so the weight of the pipe must be partially supported by a casing hanger in the wellhead.
Buckingham π theoremIn engineering, applied mathematics, and physics, the Buckingham pi theorem is a key theorem in dimensional analysis. It is a formalization of Rayleigh's method of dimensional analysis. Loosely, the theorem states that if there is a physically meaningful equation involving a certain number n of physical variables, then the original equation can be rewritten in terms of a set of p = n − k dimensionless parameters pi1, pi2, ..., pip constructed from the original variables, where k is the number of physical dimensions involved; it is obtained as the rank of a particular matrix.
