Mergers and Acquisitions. The phrase mergers and acquisitions refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling and combining of different companies that can aid, finance, or help a growing company in a given industry grow rapidly without having to create another business entity.

Marginal Cost

Marginal cost (or System Marginal Price – SMP) in electricity industry is the cost bore by utilities for supplying an additional unit of power demand to meet the physical requirements. Marginal cost data are used in electricity rate structures, generation planning and power purchase planning. The marginal cost of power is dependent on the hourly time-of-day profile of the power purchase (or sale, excluding exports and imports), the utility operating system and the term of power purchase (or sale).

Market Capitalization

Total number of equity shares actually outstanding multiplied by the current share price (previous day’s closing price).




It is a combination of two companies into one larger company. Such actions are commonly voluntary and involve stock swap or cash payment to the target. Stock swap is often used as it allows the shareholders of the two companies to share the risk involved in the deal. A merger can resemble a takeover but result in a new company name (often combining the names of the original companies) and in new branding; in some cases, terming the combination a "merger" rather than an acquisition is done purely for political or marketing reasons.


It is a chemical compound with the molecular formula CH4. It is the simplest alkane and the principal component of natural gas.

Metric ton or MT

Unit expressing mass, equal to 1.000 kilograms. 1 MT = 1 m3 * density. In absolute terms, the volume of a fuel is “higher” than its mass since its density is usually less than unity.


Message Identifier, the totem in a petrol station.

Middle Distillates

Middle side streams of the atmospheric distillation column, including diesel and jet fuel. A general classification of refined petroleum products that includes distillate fuel oil, jet fuel and kerosene.

Midstream Sector

It processes stores, markets and transports commodities such as crude oil, natural gas and natural gas liquids (NGLs) such as ethane, propane and butane.

Molecular Sieve

A process of separating hydrocarbon fractions etc. by passing the feedstock through successive absorbent substances which offer differing degrees of resistance to its passage.


A hole or a well in the hull of a ship (usually in the center) through which equipment pass to gain access to subsea.


Material Safety Data Sheets. A Material Safety Data Sheet is designed to provide both workers and emergency personnel with the proper procedures for handling or working with a particular substance. MSDS's include information such as physical data (melting point, boiling point, flash point etc.), toxicity, health effects, first aid, reactivity, storage, disposal, protective equipment, and spill/leak procedures. These are of particular use if a spill or other accident occurs. MSDS's vary in length depending on their format, content, and font size. We have seen them from 1 to 10 pages, with most being 2 to 4 pages.


Mud is the name given to drilling fluid which is mainly a mixture of water, or oil distillate, and ‘heavy’ minerals such as Bentonite or Barites. Mud is pumped into a well at densities calculated to provide a hydrostatic pressure sufficient to overcome down hole formation pressures. (See e.g. Gas Kick). In addition, the mud is continuously circulated down to the bit, and returns in the annular space outside the drill-string, bringing with it rock cuttings for inspection and keeping the well clean. It is also engineered to maintain a thin protective layer of filter-cake on the bore hole wall, without excessive weight which would decrease the weight on the bit and hence penetration (see Drill String), and also possibly lead to differential sticking and formation damage. Mud is pumped from the mud pit (or tank) via the standpipe, rotary hose and gooseneck to the swivel, and into the drill stem. On return from down hole it is recovered and rock cuttings removed by the shale shakers before re-circulation. To Mud Up is to increase mud weight and down hole pressure. To Mud Off is to seal off a formation with heavy filter cake. A Mud Log is the record of mud make-up and analysis of cuttings recovered. The composition of mud used in a well is normally supervised by a Mud Engineer.


Multiple boreholes drilled from an existing single bore well.


Measurement while Drilling.
Mean Water Depth.

Mystery motorist or mystery shopper

It is a tool used by market research companies to measure quality of retail service. Companies send mystery shoppers to ‘act’ as shoppers or to legitimately shop in return for some combination of cash, store credit, purchase discounts or the goods or services purchased. Instructions to mystery shoppers can include a script of behavior, questions to ask, complaints to give, purchases to make and measures to record, such as time it takes to receive attention from an employee or receive a service or the responses given to questions.