Definition - What does Oilwell mean?
Oilwell is a boring in the earth which is used to extract petroleum from the earth to the surface. It is a complex process thus various types of tools and devices are used to drill deeper. These tools include drill bits, drilling fluids, drill strings and shakers, etc. A well can be can either be onshore and offshore. Advanced infrastructure is required for offshore drilling, thus it is more expensive than onshore drilling.
Petropedia explains Oilwell
Oil is an essential commodity of the oil and gas industry. Many industries like transport, chemicals, and power rely on oil to fulfill most of their needs. The massive oil dependency has led to the generation of Oilwells at different locations. Permeability and Porosity are two important concerns when digging an Oilwell. Porosity can be calculated from the percentage of the rock taken by oil versus the solid stone. Permeability refers to the ability of liquid flowing through the solid stone. Once the well is drilled, a path is provided for the oil to flow into the production zone and the path is called a perforation.