Oil and Natural Gas Price Data - GASearch Energy Intelligence

Labuan Crude Oil	Crude oil from Labuan Island, off Sabah, Malaysia with API gravity of * and sulfur content of * %

Lalang Crude Oil	Crude oil from Lalang, Indonesia with API gravity of * and sulfur content of * %

Landed Cost (of oil)	The cost of oil off-loaded at a port. Similar to CIF, but would also include any duties fees or taxes.

Landman	The individual in an oil and gas company or agent who negotiates oil and gas leases with mineral owners, cures title defects, and negotiates with other companies on agreements concerning the lease.

Landowner's Royalty	The interest retained under an oil and gas lease by the person who has the authority to grant an oil and gas lease and which bears no part of the cost of drilling or producing the oil and natural gas.

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

Lease	A legal document executed between landowner or lessor that grants the right to exploit the premises for minerals or other products.

Lease Name	Name that describes specific total lease/pooled unit/unitized acreage established for regulatory purposes such as obtaining drilling permits and filing completion reports.

Leidy Natural Gas Hub	Pennsylvania natural gas hub

Lessee	Means an individual or individuals, a corporation, or, collectively, two or more corporations or individuals, that hold a working interest in a lease.

Lifting	Tankers and barges loading petroleum at a terminal or transfer point.

Light Crude Oil	Has an API gravity higher than 33 degrees. The higher the API gravity, the lighter the crude oil.

Light products, light ends	The group of petroleum products with lower boiling temperatures including gasolines and distillate fuels.

Lignite	The lowest rank of coal, often referred to as brown coal, used almost exclusively as fuel for steam-electric power generation. It is brownish-black and has a high inherent moisture content, sometimes as high as 45 percent The heat content of lignite ranges from 9 to 17 million Btu per ton on a moist, mineral-matter-free basis. The heat content of lignite consumed in the United States averages 13 million Btu per ton, on the as-received basis (i.e., containing both inherent moisture and mineral matter).

Line 63 Crude Oil	A blend of crude oil with an API gravity of * degrees and a sulfur content of * %, delivered at Hynes station, California on Four Corners Pipeline Line 63.

Linepack	The quanitity of gas in a pipeline or in a gas distribution system at any point in time. Typically, pressures are increased during winter months to allow the pipeline system to hold greater volumes of natural gas.

Liquefaction	Any process in which gas is converted from the gaseous to the liquid state. For natural gas, the process is accomplished through lowering the temperature of the gas.

Liquefied Natural Gas ("LNG")	Natural gas that has been liquefied by reducing its temperature to minus 260-degrees Fahrenheit at atmospheric pressure.

Lloyd Blend Crude Oil	Crude oil injected at Hardisty, Alberta, Canada with API gravity of * and sulfur content of * %.

Lloydminster Crude Oil	Canada crude oil with gravity of ***

LLS Crude Oil	Light Louisiana Sweet. A US crude oil.

LNG	Liquefied natural gas. Natural gas converted to a liquid state by pressure and severe cooling, then returned to a gaseous state to be used as fuel. Acceptable first reference abbreviation. LNG is moved in tankers, not via pipelines. LNG, which is predominantly methane, artificially liquefied, is not to be confused with NGLs, natural gas liquids, heavier fractions which occur naturally as liquids.

Load Factor	The average load of a customer, a group of customers, or an entire system, divided by the maximum load. Can be calculated over any time period.

Local Distribution Company ("LDC")	any person, other than any interstate pipeline or any intrastate pipeline, engaged in the transportation, or local distribution, of natural gas and the sale of natural gas for ultimate consumption.

Local Distribution Company (LDC�)	A retail gas distribution company that delivers natural gas to end users.

Location Plat	Plat which shows the location of all leases involved in the commingling application. The plat should show the approximate location of LA.C.T. units, meters, tank batteries, and any other separation, metering, or storage facilities involved in the application.

Log	To conduct a survey inside a borehole to gather information about the subsurface formations; the results of such a survey. Logs typically consist of several curves on a long grid that describe properties within the wellbore or surrounding formations that can be interpreted to provide information about the location of oil, gas, and water. Also called well logs, borehole logs, wireline logs.

Lokele Crude Oil	Crude oil from Cameroon with API gravity of * and * % sulfur.

Lone Star Natural Gas Hub - Carthage	East Texas natural gas hub

Long String	Last string of casing set in the well, covering the productive zone.

Looping	The construction of a second pipeline parallel to an existing pipeline over the whole or any part of its length; thus, increasing the capacity of that section of the system.

Loreto Crude Oil	Crude oil from Puerto Bayovar, Peru with API gravity of * and * % sulfur.

Louisiana Heavy Sweet (HLS) Crude Oil	For barrels delivered to Empire, Louisiana with an API gravity of * and sulfur content of * %.

Louisiana Light Sweet (LLS) Crude Oil	For barrels delivered to St. James, Louisiana with an API gravity of * and sulfur content of * %.

Lower Zakum Crude Oil	United Arab Emirates crude oil with gravity of ***

LPG	Liquefied petroleum gas, typically ethane, propane butane and isobutane. Usually produced at refineries or natural gas processing plants, including plants that fractionate raw natural gas plant liquids. LPG can also occur naturally as a condensate.

LS	Low sulfur

LSFO	Low sulfur fuel oil

LSWR	Low sulfur waxy residual fuel oil

Lucina Crude Oil	Crude oil from Gabon with API gravity of * and * % sulfur.

LVN	Light virgin naptha