Date: Thu, 18 Dec 1997 21:36:54 GMT Server: Stronghold/1.3.2 Ben-SSL/1.3 Apache/1.1.1 Content-type: text/html Content-length: 5879 Last-modified: Thu, 25 Sep 1997 13:22:08 GMT
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Bcf - Billion cubic feet
Bundled Service - Providing a unit of gas to the customer at a price that includes the cost of gas and all associated transportation, balancing and storage costs to deliver it.
Condensate - A liquid hydrocarbon, normally oil, recovered at the surface as natural gas is produced.
Decatherm - A heating value of 1,000,000 British thermal units, approximately equal to 1 Mcf.
Degree Day - A measure of the coldness of the weather experienced, based on the extent to which the daily average temperature falls below a reference temperature, usually 65 degrees Fahrenheit.
Discovery Well - A successful well drilled in a new field.
Hedging - A method of minimizing the impact of price changes.
Horizontal Drilling - A drilling technique in which the well bore runs horizontal or parallel to the earth's surface. This exposes a greater portion of the underground producing rock formation to the well bore than conventional vertical d rilling, improving overall productivity by permitting maximum recovery from a reservoir.
Hub - Location where pipelines intersect enabling the trading, transportation, storage, exchange and lending of natural gas.
Market-Based Rates - Rates set, by class or individually, against the price of the next available competitive alternative.
Mbbl - Thousand barrels.
Mcf - Thousand cubic feet
MMcf - Million cubic feet
MMcfe - Million cubic feet equivalent ( 1 barrel of oil = 6 Mcf of gas ).
Recompletion - Plugging the existing zone and begin production from another zone.
Reserves - Estimated volumes of oil, gas or other minerals that can be recovered from deposits in the earth with reasonable certainty.
Seismic Technology - The use of sound waves to chart sub-surface formations in order to evaluate prospects for drilling. Current technology provides enhanced 3-D mapping which greatly improves the chances for success.
Throughput - The sum of volumes of gas sold and volumes of gas transported for customers.
Transition Costs - Costs being passed on to utilities from interstate pipeline companies as a result of the federally-mandated restructuring of the natural gas pipeline industry.
Transportation Gas - The movement of gas for third parties through pipeline facilities for a fee.
Unbundled Service - The separation of services, such as transportation, storage and gathering, with rates charged that reflect cost of each service.
Underground Storage - The injection of large quantities of natural gas into underground rock formations for storage during periods of low market demand and withdrawl during periods of high market demand.
Weather Normalization - A clause in utility rates which adjusts customer costs to reflect normal temperatures. If temperatures during the measured period are warmer than normal, customers receive a surcharge. If temperatures during the me asured period are colder than normal, customers receive a credit.
Workover - Stimulating or remedial operations in the existing production zone of an oil or gas well.
The following are the units of measure and natural gas
equivalents in British thermal units (Btu).
One Btu is the quantity of heat necessary to raise the temperature of one
pound of water one degree Fahrenheit from 58.5 to 59.5 degrees under
standard pressure of 30 inches of mercury at or near its point of
maximum density. One Btu equals 252 calories
, 778 foot pounds, 1,055 joules or 0.293 watt hours.
1 cubic foot (cf) = 1,000 Btu1 therm = 100 cf = 100,000 Btu
1 Mcf = 1,000 cf = 1 million Btu
1 Bcf = 1 Billion cf = 1 trillion Btu
1 Tcf = 1 Trillion cf = 1 quad = 1 quadrillion Btu
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