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LACT: See Lease automatic custody transfer.
Lagoonal Deposits: Regionally extensive deposits along the shores of ancient
seas. Permeability varies with energy of deposition (amount of residual silt).
Lag Time: The time it takes for drill cuttings to be carried to the surface from
the bottom of the well.
Laid-Up Tonnage: Ships not in active service; a ship that is out of commis-
sion for tting out, awaiting better markets, needing work for classication,
etc. See Lay-up.
Lamellar Corrosion: Localized and subsurface corrosion in zones often par-
allel to the surface that result in leaving thin layers of uncorroded metal
resembling the pa ...