Forms of Oil & Gas

Hydrocarbon:  A compound containing only the elements hydrogen and carbon.  It may exist as a solid, a liquid, or a gas.  The term is mainly used in a catchall sense for oil, gas, and condensate.

Condensate:  Hydrocarbons that are in the gaseous state under reservoir conditions and become liquid when the temperature or pressure is reduced.

Crude oil:  Liquid petroleum as it comes out of the ground as distinguished from refined oils manufactured out of it.

Liquefied:  Light hydrocarbon material, gaseous at atmospheric temperature and pressure, held in the liquid state by pressure to facilitate storage, transport, and handling.  Commercial liquefied gas consists essentially of either propane or butane, or a mixture of the two.