When an Oil Geologist refers to "wet gas" : that is good : it means there are larger hydrocarbon molecules than methane (C1 = methane = CH4) mixed up in the gas mixture, and it may even be indicative of oil.
Oil is a liquid phase in the reservoir, and generally comprises larger alkane (Google 'Alkanes') molecules, with the most prized being around C8 (octane) .. basically petrol to anyone who drives a car.
Condensate is in a gaseous phase in the reservoir, but "condenses" into liquid form when either pressure or temperature or both drop.. usually at the surface.
However, when an oil geologist says a reservoir is "water wet", "dry" or sometimes "wet", it generally means there are no hydrocarbons.... Good signs are big numbers referring to "Oil Saturation" or "Gas Saturation" or "Hydrocarbon Saturation".
Confusion reigns!
ARQ Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)