I only recently learned that crude oil, indeed, has varying qualities. As examples, its density is deemed either "Light" or "Heavy," while its sufuric content is deemed either "sweet" (less than 0.5%) or "sour" (0.5% and above).
These references determine its degree and ease of transport and refinement, with lighter crude being closer to many finished products at the consumer level, i.e., gasoline, diesel, obviously, requiring less processing and, possibly, bringing it to market faster.
Alternatively, heavier crude has the opposite elements with transportation and refinement, but is normally cheaper to both buy and extract, bar crude being extracted from tar sands, which can in itself cost twice as much as conventional drilling.
My questions are:
* Is anyone aware of the nature of crude oil in Texas and, specifically, crude oil in and around Leon County, Texas?
* Is there a preference or favored version of most oil producers and operators?
* Can there exist both entities in the same general location?
* Overall, can one version be bargained/negotiated better than the other?
Thanks in advance,