ETS Exam 1: A+ Graded End Term Exam (Updated)
Know what type of effort is required for a Non-firm Contract - ✔✔Best effort
Know in which type of contract will you find a Keep Whole Provision - ✔✔Firm agreements
Know who in the end pays for all the cost incurred - ✔✔Consumer
Know who the new player at De-regulation - ✔✔Marketers
Know which type of meter is used in determining leaks - ✔✔Check meters
Know who the number one consumer of gas today is - ✔✔Electric Generation Customers (Electricity)
Know the two types of planning model/types - ✔✔Long term(1-3 years) and Short term (day to day/
month to month) planning models
Know about Bid-week, When does it occur and what is its purpose? - ✔✔Base loading end of every
month (last week), The period near the end of each month when the bulk of contracts for monthly gas
supply for the following month are finalized,
- Bid week occurs the last week prior to the month
Know what morning meetings are for - ✔✔Planning for the following day's (tomorrow)
operations/trading
- Meeting held everyday → morning meeting
Know what MCF, BTU and MMBTU represent - ✔✔- MCF = one thousand cubic feet, measurement of
quantity of gas; MEASURE v0
- BTU = British Thermal Unit, measurement of heat content of gas, i,e, how much energy it
contains/provides; CONVERSION FACTOR
- MMBTU = 1,000 Energy Units at 1,0 BTU; REPRESENTS VALUE
, Know what BTU stands for, - ✔✔BTU = British Thermal Unit
Know how to determine (calculate) MMBTU given an MCF quantity and a BTU Factor - ✔✔- MCF x BTU =
MMBTU
- MMBTU/BTU = MCF
Know the difference between the quantity and quality of gas, and what each is called - ✔✔Gas is bought
and sold on quality
- MMBTU=Quality
- MCF=Quantity
Know how gas is measured in the pipeline and what quantities are called - ✔✔Either measured by
volume or energy content, Measured with orifice plates, measured by MCF's
- WHAT is measured in a pipeline → MCF
Know what is the main concern of the Natural Gas Industry for their customers, - ✔✔- The safety of
their customer
Know what a Christmas Tree is in the Natural Gas Industry, - ✔✔Christmas tree is an assembly of valves,
spools, and fittings used to regulate the flow of pipes in an oil well, gas well, etc,
used to control high pressure wells
Know what hydrocarbons that are found close to the surface of the earth's surface called - ✔✔Coal
Legacy Purchase Contract - ✔✔Single purpose contracts: Purchase Only
- old contracts
-no performance resolved by a penalty
Know what type of effort is required for a Non-firm Contract - ✔✔Best effort
Know in which type of contract will you find a Keep Whole Provision - ✔✔Firm agreements
Know who in the end pays for all the cost incurred - ✔✔Consumer
Know who the new player at De-regulation - ✔✔Marketers
Know which type of meter is used in determining leaks - ✔✔Check meters
Know who the number one consumer of gas today is - ✔✔Electric Generation Customers (Electricity)
Know the two types of planning model/types - ✔✔Long term(1-3 years) and Short term (day to day/
month to month) planning models
Know about Bid-week, When does it occur and what is its purpose? - ✔✔Base loading end of every
month (last week), The period near the end of each month when the bulk of contracts for monthly gas
supply for the following month are finalized,
- Bid week occurs the last week prior to the month
Know what morning meetings are for - ✔✔Planning for the following day's (tomorrow)
operations/trading
- Meeting held everyday → morning meeting
Know what MCF, BTU and MMBTU represent - ✔✔- MCF = one thousand cubic feet, measurement of
quantity of gas; MEASURE v0
- BTU = British Thermal Unit, measurement of heat content of gas, i,e, how much energy it
contains/provides; CONVERSION FACTOR
- MMBTU = 1,000 Energy Units at 1,0 BTU; REPRESENTS VALUE
, Know what BTU stands for, - ✔✔BTU = British Thermal Unit
Know how to determine (calculate) MMBTU given an MCF quantity and a BTU Factor - ✔✔- MCF x BTU =
MMBTU
- MMBTU/BTU = MCF
Know the difference between the quantity and quality of gas, and what each is called - ✔✔Gas is bought
and sold on quality
- MMBTU=Quality
- MCF=Quantity
Know how gas is measured in the pipeline and what quantities are called - ✔✔Either measured by
volume or energy content, Measured with orifice plates, measured by MCF's
- WHAT is measured in a pipeline → MCF
Know what is the main concern of the Natural Gas Industry for their customers, - ✔✔- The safety of
their customer
Know what a Christmas Tree is in the Natural Gas Industry, - ✔✔Christmas tree is an assembly of valves,
spools, and fittings used to regulate the flow of pipes in an oil well, gas well, etc,
used to control high pressure wells
Know what hydrocarbons that are found close to the surface of the earth's surface called - ✔✔Coal
Legacy Purchase Contract - ✔✔Single purpose contracts: Purchase Only
- old contracts
-no performance resolved by a penalty
