Describe the role of gathering lines and trunk lines in pipeline operations
Gathering lines are smaller pipelines that go from an active well to a major trunk line. The trunk lines go to an oil or gas field but do not go to individual wells. Gathering lines are relatively small in diameter. They usually do not exceed 8 inches in diameter. In contrast trunk lines are usually 30-50 inches in diameter. Gathering lines are frequently laid on the surface of the ground to ensure ease of relocation when a well or field runs dry. Trunk lines, on the other hand, are usually seen as permanent and are laid underground.
The term trunk line is often used in conjunction with oil movements and can refer to crude oil trunk lines or oil product lines. Oil trunk lines move oil to tank farms or refineries in distant locations, whereas oil product lines move the gasoline, jet fuel, and home heating oil from refineries to market areas. Technically, any long-distance movement via a large-diameter, permanent pipeline implies a trunk-line movement. Therefore, when coal, natural gas, or chemicals move via pipelines, that movement is classified as trunk-line movement.
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Westmoreland Company Following are selected data from Westmoreland Company's financial statements. 2017 2016 Current liabilities $230,000 $160,000 Long-term debt 120,000 320,000 Stockholders' equity 420,000 540,000 Cash payments for additions to plant and equipment 45,000 32,000 Net cash flow from operating activities 80,000 51,000 Interest and principal payments 12,000 8,000 Net operating cash
flows before interest and taxes 68,000 43,000 Net income 90,000 72,000 Interest expense 8,500 11,500 Income taxes 16,000 14,500 Dividends paid 15,000 30,000 Refer to the Westmoreland Company data. The company's times interest earned ratio for 2017 a. shows an increase in the company's ability to pay its current debt when it comes due. b. indicates the company cannot meet its current year interest payments out of current year earnings. c. increased, which indicates the company's lenders will be pleased. d. decreased, which indicates the company has more cash to pay interest on its debt.
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Indicate whether the statement is true or false
The Land account would include all of the following costs except
A) grading the land. B) lawyers' fees. C) the cost of adding a parking lot. D) the cost of tearing down a building.
The "battle of the brands" is the competition between dealer brands and manufacturer brands.
Answer the following statement true (T) or false (F)