oil field

noun

Definition of oil field

: a region rich in petroleum deposits especially : one that has been brought into production

Examples of oil field in a Sentence

Recent Examples on the Web

BP Prudhoe Bay Royalty Trust, an obscure financial instrument that throws off cash from BP’s Alaskan oil fields, provides another reminder. — Lauren Silva Laughlin, WSJ, "A Slippery Slope for Yield Chasers," 9 Apr. 2019 Many are tied to 17 offshore platforms, most built over three years starting in 1964, before oil companies turned their attention north to the giant Prudhoe Bay oil field discovered in 1968. — Alex Demarban, Anchorage Daily News, "After leaks, Cook Inlet’s aging oil and gas pipelines get an unprecedented review," 2 May 2018 In exchange, the interior secretary awarded the two men no-bid oil leases encompassing several of the richest oil fields in the world. — Andrew Coan, WSJ, "Why Robert Mueller’s Predecessors Usually Didn’t Prevail," 25 Jan. 2019 The quake was 85 miles (137 kilometers) southeast of Deadhorse, where workers fly in for work at oil fields. — Dan Joling, The Seattle Times, "Alaska’s North Slope shaken by 2 largest recorded quakes," 14 Aug. 2018 The move comes as pipeline capacity from West Texas' Permian Basin oil field has tightened in recent months as producers pump record amounts of crude oil. — Rye Druzin, Houston Chronicle, "Noble Energy secures more Permian to Corpus crude oil pipeline capacity," 5 July 2018 Although output from all oil fields diminishes over time as the pressure in their reservoirs falls, Angola’s deep-water operations are especially costly to maintain. — Rupert Rowling, Bloomberg.com, "OPEC Cuts May Go Deeper as Another Member Sees Output Slump," 27 Apr. 2018 The crash occurred near Burgan oil field, in the southeastern desert. — Fox News, "Kuwait bus crash kills 15 Indians, Egyptians and Pakistanis," 2 Apr. 2018 Rampant corruption has emptied coffers leaving little for oil field investments while technicians have been quitting to flee punishing rates of crime, hunger and hyperinflation. — Kejal Vyas, WSJ, "U.S. Considers Harshest Venezuela Sanctions Yet, on Oil," 14 Jan. 2019

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'oil field.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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15 Apr 2019

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Time Traveler for oil field

The first known use of oil field was in 1863

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oil field

noun

Financial Definition of oil field

What It Is

An oil field is land that contains oil.

How It Works

Specifically, an oil field contains oil that is trapped by a layer of rock. Oil fields are notoriously difficult to locate and tap.

Why It Matters

There are thousands of oil fields on Earth, some of which are at the bottom of the sea. These oil fields are the source of much of the world's oil, and many companies spend millions of dollars locating and drilling in oil fields. The fuel obtained from these fields can become gasoline, plastic, jet fuel and a variety of other products.

Source: Investing Answers

oil field

noun