From my class, Abstracting the Model with a live model and set, this is a painting with a particular model and set. Timings of the model is usually 1-5 minutes. This makes you get to the essence of the scene. You do not have time to do detail drawing or painting. This is a larger painting from one done in the class.
This is done with cold wax and oil. Working with this medium feel very sculptural in application. I tend to use the palette knife instead of brushes. This creates a different texture in a 2D painting.