Fuel pressure

I am working on 99 Mercury mountaineer is has 133000 miles on it 5 LT. Eng, I have changed the fuel filter and there was a lot of black crud on the tank end of filter I checked the fuel pressure and the fuel pressure reading I am getting is 65 PSI all the time, vac. Hose on or off pressure regulator, do you think the regulator is bad or something else is wrong.


Please help

Thanks
Jep

I have just pulled the intake plenum off, there isn't a fuel pressure regulator, there is what I am being told is a fuel pressure damper on the right rear fuel rail, the Haynes manual doesn't say anything about this type of set up, thanks for your previous reply and I sent a donation in before I ask this question so I guess I messed up.

Thanks again
Jep