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Farm In |
| When a company acquires an interest in a block by taking over all or part of
the financial commitment for drilling an exploratory well. |
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| Fault |
| A displacement of subsurface layers of earth or rock that sometimes seals an oil-bearing formation by placing it next to a non-porous formation. |
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| Feedstock |
| Raw material supplied to a refinery or petrochemical plant for processing into higher-value products |
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| Fertile Material |
| In nuclear technology, a term describing a substance that is not capable of sustaining a chain reaction, but which can be converted into a fissionable material in a nuclear reactor. |
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| Field |
| A geographical area under which one or more oil or gas reservoirs lie, all of them related to the same geological structure. |
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| Fire Flooding |
| An enhanced oil recovery method in which air or oxygen is injected into the reservoir to support controlled combustion, thereby increasing the temperature and lowering the viscosity of heavy oils to facilitate recovery by pumping. Also referred to as wet combustion. |
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| Firm Power |
| Electric power intended to be available at all times during the period covered by an agreement. |
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| Fish |
| Any undesirable object accidentally lost in the well bore which must be removed before drilling continues. |
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| Fishing |
| Retrieving objects from the borehole (e.g., a broken drill string, or tools.) |
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| Fission And Fusion |
| Fission is the splitting of atomic nuclei and fusion is the combination of two atomic nuclei. In both processes, the total mass of the resultant particles is less than the total mass of the original nuclei. The lost mass is released as energy. |
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| Fixed-Bed Gasification |
| A gasification process in which the raw material is fed as uniform-sized particles and in which the gas moves through a nearly stationary bed of reacting fuel. |
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| Flat Life |
| That period in the producing life on an oil or gas reserve during which production is maintained at a constant rate, before decline commences. |
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| Flat-Rate Pricing |
| The pricing of a commodity, (for example, electricity) at the same rate, no matter how much is used. |
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| Flue Gas Desulfurization |
| A method of removing the sulfur oxides from the gas emitted in the burning of coal by bringing the flue gas in contact with a chemical absorbent, which reacts with the S02 to produce a slurry containing dissolved or solidified sulfur. |
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| Fluidized-Bed Combustion |
| A process in which combustible materials are introduced into a greater volume of hot inert particles, contained in a chamber and maintained in a state of turbulence by a stream of gas (usually air) from below, during their thermal conversion. The process can be pressurized. |
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| Force Majeure |
| A standard clause which indemnifies either or both parties to a transaction whenever events reasonably beyond the control of either or both parties occur to prevent fulfillment of the terms of the contract. Standard force majeure clauses specify eventualities such as war, storms, "Acts of God," fires, etc., but are not strictly limited to the eventualities expressly listed. In energy trade, force majeure has been invoked when changes in government policy make the terms of a contract financially damaging to one of the parties. |
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| Foreign Sales As Percentage Of Total Sales |
| Export sales from domestic operations plus sales from foreign operations divided by total sales. Indicates exposure to foreign risks. |
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| Forest Biomass |
| Biomass derived from forest matter. This includes residues from forest harvesting and from the pulp and paper and wood products industries, also wood harvested specifically as an energy source, possibly from plantations of rapid-growth species dedicated for fuel production. |
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| Formation Pressure |
| The pressure at the bottom of a well when it is shut in at the wellhead. |
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| Formation Water |
| Salt water underlying gas and oil in the formation. |
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| Fossil Fuels |
| Any naturally occurring solid, liquid or gaseous fuel of a fossilized organic nature. Includes coal, crude oil and natural gas. |
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| Fracturing |
| A method of breaking down a formation by pumping fluid at very high pressures. |
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| Free On Board (FOB) |
| A transaction in which the seller provides goods at an agreed unit price, at a specified loading port, within a specified period. It is the responsibility of the buyer to arrange for transportation and insurance, and to lift material within the specified laytime. |
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| Frontier Areas |
| Those areas which have potential for oil and natural gas but no history of production. In Canada, these include the Mackenzie Delta/Beaufort Sea area, the Arctic Islands and the Atlantic and Pacific offshore areas. |
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| Fuel |
| Any material that gives off heat during combustion; also material that can be fissioned in a chain reaction to produce heat (atomic or nuclear energy). |
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| Fuel Efficiency |
| When a fuel is burned, the amont of useful output energy, expressed as a percentage of the theoretical energy content of the fuel. Fuel efficiency for a heating fuel is less than 100% to the extent that heated air is used in combustion and to the extent that exhaust venting is necessary. In other applications, fuel efficiencies are less than 100% partly because of waste heat generation. |
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| Fuel Oil Equivalent (FOE) |
| The heating value of a standard barrel of fuel oil, equal to 6.05 x 106 Btu (LHV). On a yield chart, dry gas and refinery fuel gas are usually expressed in FOE barrels. |
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| Fuel Reprocessing |
| The processing of used nuclear reactor fuel to recover the unused fissionable material. |
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| Full-Cycle Exploration |
| Phase of operations which covers the search for oil or gas by carrying out detailed geological and geophysical surveys followed up (where appropriate) by exploratory drilling. |
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| Fungible |
| Interchangeable. Products which can be commingled for purposes of pipeline shipment are called fungible products. |
P.O.S.T. Report
