NIP FLAC meaning in oil and gas
Definition
NON INTEREST PARTICIPANT FLAC
NIP FLAC means NON INTEREST PARTICIPANT FLAC. THIS IS A FLAC SET UP WHERE a major oil and gas company DOESN'T HAVE AN INTEREST IN A WELL AND WILL NOT HAVE A INTEREST IN THE WELL. THE FLAC IS SET UP FOR GAS MARKETING…
THIS IS A FLAC SET UP WHERE a major oil and gas company DOESN'T HAVE AN INTEREST IN A WELL AND WILL NOT HAVE A INTEREST IN THE WELL. THE FLAC IS SET UP FOR GAS MARKETING PURPOSES ONLY.
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