Oil and Natural Gas Price Data - GASearch Energy Intelligence

Aasgard Crude Oil	Crude oil from North Sea with API gravity of * and * % sulfur.

Abandoned Well	A well no longer in use, whether dry, inoperable or no longer productive, and the previous operator has intentionally relinquished its interest in the well.

Abandonment - Natural Gas	Under Section 7(b) of the NGA, natural gas companies must obtain FERC permission before abandoning all or part of an interstate transportation service or facilities used to render those services. Abandonment may be pregranted.

Abo Crude Oil	Crude oil from Nigeria with an API gravity of * and sulfur of * %

Abqaiq Crude Oil	Crude oil from Saudi Arabia with an API of 37.6 and sulfur of 1.3%.

Absolute Open Flow (AOF)	The number of cubic feet of gas per 24 hours that would be produced by a well if the only pressure against the face of the producing sand in the well bore were atmospheric pressure.

Absolute Pressure	Gauge pressure plus barometric pressure. Absolute pressure can be zero only in a perfect vacuum.

Absolute Viscosity	The measure of a fluid's tendency to resist flow, without regard to its density. By definition, the product of a fluid's kinematic viscosity times its density.

Absolute Zero	The zero point on the absolute temperature scale. It is equal to -273.16 degrees C, or 0 degrees K (Kelvin), or -459.69 degrees F, or 0 degrees R (Rankine).

Absorbent	A material which, due to an affinity for certain substances, extracts one or more such substances from a liquid or gaseous medium with which it contacts, and which changes physically, or both, during the process.

Absorption	The extraction of one or more components from a mixture of gases when gases and liquids are brought into contact. The assimilation or extraction process causes (or is accompanied by) a physical or chemical change, or both, in the sorbent material.

Absorption Plant	A device that removes hydrocarbon compounds from natural gas, especially casinghead gas. The gas is run through oil of proper character, which absorbs the liquid constituents, which are then recovered by distillation.

Abstract Number	Abstract number assigned to the survey where the proposed surface location lays. The Texas General Land Office assigned the number to the surveyed parcel at the time of patenting (Example: A-1234). The term “abstract” refers to an original land survey describing an area transferred from the public domain by either the Republic of Texas or the State of Texas.

Abu Al Bu Koosh Crude Oil	Crude oil from United Arab Emeritis (UAE) with an API of * and sulfur of * %.

Abu Al Khoosh Crude Oil	Crude oil from United Arab Emeritis (UAE) with an API gravity of * and sulfur of * %.

Abu Bukhoosh Crude Oil	Crude oil from Abu Dhabi (UAE) with an API gravity of * and sulfur content of * %.

Abu Gabra Crude Oil	Crude oil from Sudan with an API gravity of * and sulfur content of * %.

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

Accelerated Cost Recovery System ("ACRS")	A depreciation system enacted as part of the Economic Recovery Tax Act of 1981 that allows rapid depreciation of assets for tax purposes. It was repealed in the Tax Reform Act of 1986.

Accrual	The recording on the books of account, in a given period, of expenses or charges incurred and/or of income earned for the period, to reflect the matching of income and expenses to the fullest extent possible, independent of the dates on which settlements of such items are made.

Accumulated Deferred Income Taxes	Account(s) shown on a corporation's balance sheet, typically a net liability, that represents a future (deferred) claim by the government against the corporation's assets. Deferred income taxes arise from the use of accelerated or liberalized depreciation for tax purposes instead of straight-line or other non-liberalized depreciation methods used for book purposes, and from other temporary differences in the recognition of revenue and expense items for income tax purposes and for financial reporting purposes.

Accumulated Provision for Depletion	The net accumulated credit resulting from offsetting charges to income for the pro-rata cost of extracted depletable natural resources such as coal, gas, oil, etc.

Accumulated Provision for Depreciation and Amortiz	The net accumulated credit balance arising from provisions for depreciation and/or amortization (both defined herein) of assets, usually utility plant and non-utility property. The net balance reflects current and prior credits less charges but is not a measure of actual depreciation.

Achievable Potential	In DSM, an estimate of energy savings based on the assumption that all energy-efficient options will be adopted to the extent that they are cost-effective and possible through utility DSM programs.

Acid Fracture	To part or open fractures in limestone formations by using fluid under hydraulic pressure.

Acid Gases	Gases that produce an acidic solution when dissolved in water. Examples of such compounds, often found in natural gas, are hydrogen sulfide and carbon dioxide.

Acid Rain	Abnormally acidic rainfall, most often containing dilute concentrations of sulfuric acid or nitric acid.

Acidizing	The practice of applying acids to the walls of oil and gas wells to remove any material which obstructs the entrance of fluids. Also used in carbonate formations, such as limestone, to increase porosity. A procedure in which acid (hydrochloric acid usually) is pumped into a reservoir to dissolve calcite so that increased flow from the reservoir will occur.

Acre-Feet	Unit of volume; one acre of producing formation one foot thick. One acre-foot equals 7,758 barrels, 325,829 gallons or 43,560 cubic feet.

Acre-Feet of Water	The volume of water that would cover one acre to a depth of one foot, or 43,560 cubic feet of water, or 325,841.1 gallons of water.

Ad Valorem Tax	A property tax imposed by various states on recoverable reserves and well equipment.

Ada Allen Crude Oil	Crude oil from United States Oklahoma with an API gravity of * and sulfur content of * %.

Adar Crude Oil	Crude oil from Sudan with an API gravity of * and sulfur content of * %.

Adiabatic	A term indicating that no heat is lost or gained by a material being subjected to a thermodynamic process. An adiabatic process is one in which there is no exchange of heat with the surroundings.

ADP	Alternative Delivery Procedure. A contractual provision where buyers and sellers make and take delivery under terms differing from those identified in the contract. Once long and short positions are matched, an ADP may occur at any time.

Adsorption	The extraction from a mixture of gases or liquids of one or more components, by surface adhesion to that material with which the gases or liquids come in contact. The adsorption or extraction process does not cause and is not accompanied by either a physical or chemical change in the sorbent material.

AECO-C Natural Gas Hub	Alberta, Canada natural gas hub

Affiliated Marketer	A marketer that is owned either by a distribution or transmission company, or by a corporation that also owns a distribution or transmission company.

AG	Arabian Gulf

AGA	American Gas Association. Natural gas trade association that conducts technical research and develops standards for products and equipment used in all areas of the natural gas industry. The Association also gathers statistics used to establish industry standards.

Agent	A legal representative of buyers, sellers or shippers of natural gas in negotiation or operations of contractual agreements.

AGO	Atmospheric gasoil

Agua Dulce Natural Gas Hub	Southeast Texas natural gas hub.

Agua Dulce Natural Gas Hub	South Texas natural gas hub - 9 pipeline interconnects

Air Change	A method of expressing the amount of air infiltration and/or ventilation of a building or room in terms of the number of building volumes or room volumes exchanged per unit of time.

Air Conditioning	The process of heating, cooling, humidifying, filtering, drying, deodorizing, or otherwise treating air in a room or building to maintain a specified temperature and/or relative humidity and to remove impurities.

Air-Gas Ratio	The ratio of the air volume to the gas volume. A specified ratio is necessary to achieve a desired character of combustion.

Airlie Blend	Crude oil from Australia with an API gravity of * and sulfur content of * %.

Aksai Crude Oil	Crude oil from Kazakhstan with an API gravity of * and sulfur content of * %.

Aktyubinsk Crude Oil	Crude oil from Kazakstan with an API gravity of * and sulfur content of * %.

Al Jurf Crude Oil	Crude oil from Libya with API gravity of * and * % sulfur.

Al Rayyan Crude Oil	Crude oil from Qatar with an API gravity of * and sulfur content of * %.

Al Shaheen Crude Oil Kuwait	Crude oil from Kuwait with an API gravity of * and sulfur content of * %.

Al Shaheen Crude Oil Qatar	Crude oil from Qatar with an API gravity of * and sulfur content of * %.

Alaskan Natural Gas Transportation System (ANGTS)	A proposed pipeline system to transport gas from the Prudhoe Bay field in Alaska to the vicinity of Chicago and San Francisco through Canada. Portions from Canada towards San Francisco (the Western Leg) and from Canada towards Chicago (Northern Border Pipeline) were "prebuilt" to import gas from Canada prior to the flow of Alaskan gas. The project was authorized by the ANGTA of 1976 and the President's Decision and Report to Congress in September 1977.

Alaskan North Slope (ANS) Crude Oil	Crude oil from United States Alaska with an API gravity of ***

Alba Crude Oil	Crude oil from United Kingdom with API gravity of * and * % sulfur.

Albacore Leste Crude Oil	Crude oil from Brazil with an API gravity of * and sulfur content of * %.

Alberta Centre Natural Gas Hub	Alberta, Canada natural gas hub - 3 pipeline interconnects

Alberta Natural Gas Hub	Alberta, Canada natural gas hub

Alberta SynCrude Crude Oil	Crude oil from Canada with an API gravity of * and sulfur content of * %.

Albian Heavy Synthetic	Crude oil from Canada with an API gravity of * and sulfur content of *%.

Alexandria Lsar Crude Oil	Crude oil from Egypt with an API gravity of * and sulfur content of * %.

ALG	Algerian

Algerian Condensate Oil	Crude oil from Algeria with an API gravity of * and sulfur content of * %.

Algonquin Natural Gas Hub	New Jersey natural gas hub

Alif Crude Oil	Crude oil from Yemen with an API gravity of * and sulfur content of * %.

Alkylate	A gasoline blending component composed of isobutane and propylene or butylene.

Alliance Natural Gas Hub	Illinois natural gas hub.

Allocated Pool	A pool in which the total oil or natural gas production is restricted and allocated to various wells therein in accordance with proration schedules.

Allocation	The process of determining ownership rights to the gas delivered to a meter.

Allocation Method	A method of allocating volumes to affected parties when an imbalance occurs.

Allocation-Capacity	A process by which capacity available in a pipeline is distributed to parties in the event requests for volume (i.e., nominations) are in excess of the available space. Typically the allocation is based on service type, contract type and a company's tariff provisions.

Allowable	Amount of oil or gas which a well, leasehold or field may produce per well

Allowables	The permitted rate of production from a well or group of wells that is allowed by a particular state or governing body. The rate is set by rules which vary among the various states or governing bodies.

Allowed Rate of Return	The rate of return that a regulatory commission allows on a rate base in establishing just and reasonable rates for a utility. It is usually based on the composite cost of financing rate base from debt, preferred stock, and common equity.

Altamont Crude Oil	Crude oil from United States Utah with an API gravity of * and sulfur content of * %.

Altimira Crude Oil	Crude oil from Mexico with an API gravity of * and sulfur content of * %.

Amenam Blend	Crude oil from Nigeria with API gravity of * and * % sulfur.

Amenam Crude Oil	Crude oil from Nigeria with an API gravity of * and sulfur content of * %.

American Gas Association (AGA)	Trade group representing natural gas distributors and pipelines.

American Option	An option contract that can be exercised at any time before expiration.

Amna Crude Oil	Crude oil from Libya with an API gravity of * and sulfur content of * %.

Anaco Wax Crude Oil	Crude oil from Venezuela with an API gravity of * and sulfur content of * %.

Anadyr Crude Oil	Crude oil from Russia with an API gravity of * and sulfur content of * %.

Anasuria Crude Oil	Crude oil from United Kingdom with an API gravity of * and sulfur content of * %.

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

Angostura Crude Oil	Crude oil from Trinidad with an API gravity of * and sulfur content of * %.

Angsi Crude Oil	Crude oil from Malaysia with an API gravity of * and sulfur content of * %.

Angus Crude Oil	Crude oil from North Sea with an API gravity of * and sulfur content of * %.

Aniline Point	Reports the aromatics content of a mixture

Anoa Crude Oil	Crude oil from Indonesia with an API gravity of * and sulfur content of * %.

ANR Joliet Natural Gas Hub	Illinois natural gas hub - 10 pipeline interconnects

ANR Natural Gas Hub - Chicago	Illinois natural gas hub

ANR Natural Gas Hub - Joliet	Illinois natural gas hub.

ANR Natural Gas Hub - Louisiana	Southeast Louisiana natural gas hub

ANR Natural Gas Hub - Oklahoma	Oklahoma natural gas hub

ANS Crude Oil	Alaska North Slope crude oil with API gravity is * and sulfur content of * %.

Antan Crude Oil	Crude oil from Nigeria with API gravity of * and * % sulfur.

Anthracite Coal	The highest rank of coal; used primarily for residential and commercial space heating. It is a hard, brittle, and black lustrous coal, often referred to as hard coal, containing a high percentage of fixed carbon and a low percentage of volatile matter. The moisture content of fresh-mined anthracite generally is less than 15 percent. The heat content of anthracite ranges from 22 to 28 million Btu per short ton on a moist, mineral-matter-free basis. The heat content of anthracite coal consumed in the United States averages 25 million Btu per short ton, on the as-received basis (i.e., containing both inherent moisture and mineral matter). Note: Since the 1980's, anthracite refuse or mine waste has been used for steam electric power generation. This fuel typically has a heat content of 15 million Btu per short ton or less.

Anthracite Coal	A hard, black, lustrous coal that burns efficiently, containing a higher percentage of fixed carbon and a low percentage of volatile matter differing from bituminous, and generally having a heating value of 11,000-12,000 Btu/lb. Commonly referred to as hard coal; it is mined in the U.S., mainly in eastern Pennsylvania, although in small quantities in other states. Most of the anthracite is used as a fuel in household heating systems. When anthracite burns, it produces almost no smoke.

Anticline	An upfold or arch in rock strata in which the beds or layers dip in opposite directions from the crest, permitting possible entrapment of oil and gas.

Anton Irish Crude Oil	Crude oil from United States Texas with an API gravity of * and sulfur content of * %.

API	Means the American Petroleum Institute. A trade association and standards organization that represents the interests of the oil and gas industry. It offers publications regarding standards, recommended practices, and other industry related information

API County Code	An indicator developed by the American Petroleum Institute (API) to identify areas such as counties and other subdivision areas identified within state boundaries. Defined by API Bulletin D12A, as amended. This code becomes a part of the API Well Number.

API Gravity	An arbitrary scale expressing the gravity or density of liquid petroleum products devised jointly by the American Petroleum Institute and the National Bureau of Standards. The measuring scale is calibrated in terms of degrees API. Oil with the least specific gravity has the highest API gravity. The formula for determining API Gravity is: API gravity = (141.5/specific gravity at 60 degrees F) – 131.5.

API Number	This is a unique, permanent, numeric identifier assigned for identification purposes to a wellbore. It consists of 10 digits, the first 2 digits are the state code, the next 3 digits are the county code, and the last 5 digits are the unique number assigned to identify the wellbore.

API State Code	The indicator assigned to a state, as defined in API Bulletin D12A, as amended. This code is a part of the API Well Number

Apiay Crude Oil	Crude oil from Colombia with an API gravity of * and sulfur content of * %.

Appalachian Basin (Pennsylvania Grade Crude Oil�)	Contains a lot of wax and paraffin.

ARA	Amsterdam - Rotterdam - Antwerp

Arab Extra Light Crude Oil	Crude oil from Saudi Arabia with an API gravity of * and sulfur content of * %.

Arab Gulf ("AG"�)	This phrase and its abbreviation AG are current in some sectors of the oil industry, especially the tanker world, as a designator for the Persian Gulf, which is the correct name in international law for the body of water bordered by the UAE, Saudi Arabia, Qatar, Kuwait, Iraq and Iran.

Arab Super Light Crude Oil	Crude oil from Saudi Arabia with an API gravity of * and sulfur content of * %.

Arabian Heavy Crude Oil	Saudi Arabia crude oil with an API gravity of * and sulfur of * %

Arabian Light Crude Oil	Saudi Arabia crude oil with an API gravity of * and sulfur content of * %

Arabian Medium Crude Oil	Saudi Arabia crude oil with an API gravity of * and a sulfur content of * %

Arbitrage	Simultaneous purchase of one commodity against another, creating a profit opportunity from fluctuations in the usual price relationships.

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

Ardmore Crude Oil	Crude oil from North Sea with an API gravity of * and sulfur content of * %.

Argyll Crude Oil	Crude oil from North Sea with an API gravity of * and sulfur content of * %.

Arimbi Crude Oil	Crude oil from Indonesia with an API gravity of * and sulfur content of * %.

Arms-Length Bargaining or Negotiation	Bargaining between two or more unaffiliated parties carried out in a truly competitive manner.

Aromatics	Group of petrochemicals characterized by a ring structure, they are produced in refinery reformers and petrochemical plants.

Arun Condensate Oil	Crude oil from Indonesia with an API gravity of * and sulfur content of * %.

Asab Crude Oil	Crude oil from United Arab Emeritis (UAE) with an API gravity of * and sulfur content of * %.

Asgard Condensate Oil	Crude oil from Norway with API gravity of * and * sulfur.

Asgard Crude Oil	Crude oil from Norway with API gravity of * and * % sulfur.

Ashtart Crude Oil	Crude oil from Tunisia with API gravity of * and * % sulfur.

ASPH	Asphaltene

Asphalt	1. Mixture of bitumen and mineral aggregate as prepared for the construction of roads or in other paving areas. 2. In the USA, it refers to the product that is known as bitmen in the rest of the world.

Asphaltic Crude Oil	Crude oil from United States Wyoming with an API gravity of * and sulfur content of * %.

Asphalto Crude Oil	Crude oil from United States California with an API gravity of * and sulfur content of * %.

Assay	To test oil for purity or quality.

Assignee	In law generally a transferee; a recipient of an interest in property or a contract.

Assignment	Where the seller of an option is notified of a buyer's option to exercise the rights from that option.

Associated Gas	Natural gas produced with crude oil from the same reservoir.

Associated Liquids	Condensates (liquid hydrocarbons without free water) produced in conjunction with the production of gas to be transported or liquefiable hydrocarbons contained in such gas, but not including oil.

Atmosphere	The outdoor air in general. Also a mixture of gases within any specified chamber, such as heat-treating furnace.

Attaka Crude Oil	Crude oil from Santan, off Balikpapan, Indonesia with API gravity of * and sulfur content of * %

Avalon Crude Oil	Crude oil from Canada with an API gravity of * and sulfur content of * %.

Avgas	High octane avaiation gasoline used in piston type aircraft engines.

Awali Crude Oil	Crude oil from Bahrain with an API gravity of * and sulfur content of * %.

Azeri Light (CIF Augusta)	Azerbaijan Azeri Light for cargoes of Azeri Light sold from the Black Sea port of Supsa into the Mediterranean on a CIF Augusta basis. The API for Azeri Light is * degrees and the sulfur content is * %.