Oil and Natural Gas Price Data - GASearch Energy Intelligence

F-3FB Condensate Oil	Crude oil from Netherlands with API gravity of * and * % sulfur.

Fadhill Crude Oil	Crude oil from Saudi Arabia with an API gravity of * and a sulfur content of * %.

Fao Blend Crude Oil	Crude oil from Iraq with an API gravity of * with a sulfur content of * %

Farmout	Assignment or partial assignment of an oil and gas lease from one lessee to another lessee.

FCCU	Fluid catalytic cracking unit.

Federal Energy Regulatory Commission	A US federal agency created in 1977 to regulate, among other things, interstate wholesale gas and transportation of gas and electricity at "just and reasonable" rates. Located in Washington.

Federated Crude Oil	Crude oil from Canada with an API gravity of * with a sulfur content of * %

Fee Land	The most extensive interest that can be owned in land, including surface and mineral (including oil and gas) rights

Feedstock	Material used in a processing plant.

FERC	Federal Energy Regulatory Commission. A US federal agency created in 1977 to regulate, among other things, interstate wholesale gas and transportation of gas and electricity at "just and reasonable" rates. Located in Washington.

FERC Order 636	The 1992 order that unbundled US pipeline services, requiring pipelines to cease their merchant function and instead become solely a transporter of gas.

Field	Area of oil and gas production with at least one common reservoir for the entire area. The words 'pool' and 'field' mean the same thing when only one underground reservoir is involved, but 'field' unlike 'pool' may relate to two or more pools.

Field Rules	Spacing and production rules for the common reservoir in an area.

Fife Crude Oil	Crude oil from North Sea with an API gravity of * with a sulfur content of * %

Firm Gas	Gas sold on a continuous basis for a defined contract term. A type of contracted service where the distributor agrees to provide the buyer with an uninterrupted supply of gas. This type of contract is usually more expensive and is used primarily by those firms who cannot afford to risk loss of fuel for any period of time.

Firm Service	Service offered to customers under schedules or contracts that anticipate no interruptions. The highest quality of service offered to customers.

Fish	An object lost (or stuck) in the wellbore obstructing operations.

Flare or Vent	The burning or venting of gas in the field as a means of disposal when there is no market for the gas and the operator does not elect (or cannot) use the gas for a non-wasteful purpose. Flaring of gas is regulated.

Flash Point	The lowest temperature under very specific conditions at which a combustible liquid will give off sufficient vapor to form a flammable mixture with air in a standardized vessel. Assesses the volatility of the product.

Florida Gas Natural Gas Hub - Florida	Florida natural gas hub

Florida Gas Natural Gas Hub - Louisiana	Louisiana natural gas hub

Florida Gas Natural Gas Hub - Mobile Bay	Alabama natural gas hub

Florida Gas Natural Gas Hub - South Texas	South Texas natural gas hub

Flotta Crude Oil	North Sea crude oil. API gravity is * degrees, and the sulfur content is * %.

Flounder Crude Oil	Crude oil from Australia with an API gravity of ***

FOB	Free on board. fob prices exclude all, insurance and freight charge

Foinaven Crude Oil	Crude oil from United Kingdom with an API gravity of * with a sulfur content of * %

Forcados Crude Oil	West African crude oil. Nigeria crude oil with gravity of * . This crude has a larger distillate refining profile. Its API gravity is * degrees and has a sulfur content of *** %

Forcados Crude Oil	Crude oil from Nigeria with an API gravity of * with a sulfur content of * %

Force Majeure	An unexpected event or occurrence not within the control of the parties to a contract which alters the application of the terms of the contract; sometimes referred to as "an act of God." Examples include severe weather, war, strikes, pipeline failure, and other similiar events.

Formation	A separate layer of rock or group of intermingled beds.

Forozan	Crude oil from Iran with API gravity of * and * % sulfur.

Fortescue Crude Oil	Crude oil from Australia with an API gravity of ***

Forties Crude Oil	The first substantial oil field discovered in the British sector of the North Sea. Also used to refer to the crude oil produced from the field. API gravity is * degrees. The sulfur content is * %.

Forties Crude Oil	Crude oil from United Kingdom with an API gravity of * with a sulfur content of * %

Fosterton Crude Oil	Crude oil from Canada with an API gravity of * with a sulfur content of * %

Four Corners Crude Oil	Crude oil from United States Utah with an API gravity of * with a sulfur content of * %

Fourchon Grand Isle Crude Oil	Crude oil from United States Louisiana with an API gravity of * with a sulfur content of * %

FPSO	Floating Production, Storage and Offloading vessel

Frac	High pressure or explosive method of fracturing rock formations

Fracing	The process of pumping fluids into a productive formation at high rates of injection to hydraulically break the rock. The "fractures" which are created in the rock act as flow channels for the oil and gas to the well.

Front Month	The contract month that will be expiring next. Example - Using Crude Oil, in July 2005, the front month would be the August 2005 contract as it is the next contract to expire. Once the August 2005 contract month expires on July 26th, the next contract out would become the front month. In this example, on July 26th through August 25th, the front month would be the September 2005 contract.

Front Month, Roll On Expiration	Method of rolling data. When the current contract expires, the data rolls to the next contract out.

Front Month, Roll On Volume	Method of rolling data from one contract to the next contract. When the volume of trades in teh next contract out becomes larger than the volume of trades in the current month, the data rolls to the next contract out.

Fuel and Shrinkage	The difference between the amount of gas produced at the wellhead and the gas that enters a pipeline that can be associated with providing energy to on lease equipment or removal of solution gas. The losses include but are not limited to those from the separation process and field use, as well as fuel, flare gas and plant liquids extraction.

Fulmar Crude Oil	Crude oil from North Sea with an API gravity of * with a sulfur content of * %

Furrial Crude Oil	Crude oil from Venezuela with an API gravity of * with a sulfur content of * %

Futures Contract	An agreement to make or take delivery of a commodity at a fixed date or strip of dates in the future, at a price agreed upon at the time of dealing.

Fuyu Crude Oil	Crude oil from China