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WAG Ratio
The ratio of water to gas in a WAG process.

Warranty Contract Reserves
Natural gas supplies committed to warranty natural gas contracts. Generally, the producer does not dedicate specific reserves underlying any specific acreage, lease or fields to a warranty agreement.

Warranty Gas Sales Contract
A natural gas sales contract in which the seller commits to deliver a stated quantity of natural gas over a stated period of time, without limitation to or commitment of specific reserves or sources of natural gas, and generally with no production-related reservations.

Waste Heat Recovery
A process for making use of available heat that would otherwise be wasted or lost to the atmosphere. Heat including steam is produced at various stages of natural gas production, processing and transmission and can be recovered in some situations.

Waste Heat Recovery Generation
A process for generating electricity from spare heat that would otherwise be wasted or lost to the atmosphere. Heat including steam is produced at various stages of natural gas production, processing and transmission and can be recovered in some situations to generate electricity.

Weighted Average Cost of Gas (WACOG)
The weighted average unit cost of a supply of natural gas. WACOG is calculated as the total cost of all natural gas purchased during a base period divided by either the total quantity purchased (unit of production) or the system throughput (unit of sales) during the same period.

Well, Wildcat
An exploratory well drilled in unproven territory, including a horizon from which there is currently no production in the general vicinity.

Wellhead Price
The price received by the producer for sales at the well.

Wet Bulb Temperature
The temperature a sample of air would have if cooled adiabatically to saturation at constant pressure by evaporation of water into it, all latent heat being supplied by the sample of air.

White Oil
Liquefied natural gas which is produced from refrigeration units at a well site.

Working Interest
An interest in a mineral property which entitles an owner to share the production from the mineral property.