Petroleum Acronyms

OIL & GAS GLOSSARY

General Industry Term

RIF

Definition

Reduction in Force

RIF means Reduction in Force.

Layoffs or workforce reductions, often due to restructuring, mergers, or low oil prices.

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ROFO

Right of First Offer

IDR

Incentive Distribution Right

VTISF

Vertical True Inclination Sensor Frame

TLI

Tubing Log Interface

XRL

Extended-Reach Lateral