oil field

noun

|Updated on: 8 Jul 2018

Definition of oil field

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

See oil field defined for English-language learners

Recent Examples of oil field from the Web

Unrelenting exploitation of the oil field had reduced its output dramatically by the 1970s, and in response the city began an intensive, largely successful, effort to diversify its economy.

— scott garner, latimes.com, "Neighborhood Spotlight: Signal Hill keeps progress in view without blocking out its oil town past," 22 June 2018
When a new oil field was discovered in Venezuela, my father was assigned to open up the company’s office as its sole employee.

— phil blair, sandiegouniontribune.com, "The more people I talked to, the richer I became," 18 June 2018
Of that total, 478 are operating in West Texas’ Permian Basin oil field, while South Texas’ Eagle Ford Shale has 78 rigs.

— rye druzin, San Antonio Express-News, "San Antonio oil CEO says business is getting tough for smaller drillers," 29 May 2018
After losing some oil fields, the Kurdish government has also faced civil unrest.

— isabel coles and, WSJ, "In Sign of Thaw, Iraq Lifts Flight Ban on Kurdish Region," 13 Mar. 2018
Despite expectations that lower investment would accelerate the depletion of maturing non-OPEC oil fields, the opposite is happening.

— Bloomberg.com, "IEA Sees American Energy Dominance Squeezing OPEC Into 2020s," 5 Mar. 2018
Despite expectations that lower investment would accelerate the depletion of maturing non-OPEC oil fields, the opposite is happening.

— grant smith, Houston Chronicle, "U.S. to dominate oil markets in years ahead," 5 Mar. 2018
The project, Alaska LNG, would include a natural gas pipeline running 800 miles from the North Slope oil fields to the Kenai Peninsula.

— nathaniel herz, Anchorage Daily News, "Legislature hires consultant to scrutinize China gas pipeline deal," 22 Feb. 2018
That economy, more than Hollywood or the oil fields, built the region’s postwar middle class.

— joe mozingo, latimes.com, "Visionaries and scoundrels made the Los Angeles Times, which returns to local ownership after 18 years," 17 June 2018

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.

First Known Use of oil field

1863

in the meaning defined above

See Words from the same year

NEW! Time Traveler

Financial Definition of OIL FIELD

oil field

noun

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