Common use of Initial Price Clause in Contracts

Initial Price. From the Effective Date until that date that is two one (21) Years from the WIC In-Service Date ("Initial Pricing Term"), and Month to Month thereafter until either Party makes the Renegotiation Election, Buyer shall pay a price per MMBtu determined in accordance with Appendix "1" (in each case, the "Contract Price"), determined on a dry basis, for Gas delivered each Month, equal to the following: (a) From the Effective Date until the WIC In-Service Date, the price to be paid, as well as the quantity of Gas to be purchased shall be mutually agreed upon, fixed by the Parties on or before the last trading Day of the NYMEX contract for the delivery Month. If no price and quantity are agreed upon by such date, Seller's Gas shall be gathered during such Month under the Gathering Services Agreement. (b) From and after the WIC In-Service Date the price per MMBtu of Gas purchased by Buyer and paid to Seller will be computed based upon the following: for volumes of Gas delivered hereunder each Day for up to eighty percent (80%) of Seller's First of the Month Scheduled Volume the price per MMBtu shall be equal to the Inside F.E.R.C. first of the Month "Index Price" for Colorado Interstate Gas Co. – Rocky Mountains minus $0.01 per MMBtu, less the Gathering Services Fee including fuel and shrinkage: for the remaining volume of Seller's Gas delivered hereunder each Day the price shall equal the Gas Daily Price for Rockies, CIG (North System) for each Day minus $0.02 per MMBtu, less the Gathering Services Fee including fuel and shrinkage. Seller has the option to adjust the percentage weighting of each pricing option listed above by providing Buyer seven (7) Business Days notice prior to the beginning of the delivery Month. If Buyer does not receive timely notification from Seller, the pricing mechanism shall default to the above percentage weightings. [Let’s discuss this concept, if necessary]. If one of the referenced index is not available in the future, and the Parties do not agree to an alternative as of the end of the first Month for which the price could not be determined, then the remaining referenced index will be used; provided however, if both of the referenced indices are not available in the future, and the Parties do not agree to an alternative as of the end of the first Month for which the price could not be determined, then this Agreement shall be terminated and the Gathering Services Agreement shall be controlling.

Initial Price. From the Effective Date until that date that is two one (212) Years from the WIC In-Service Date ("Initial Pricing Term"), and Month to Month thereafter until either Party makes the Renegotiation Election, Buyer shall pay a price per MMBtu determined in accordance with Appendix "1" (in each case, the "Contract Price"), determined on a dry basis, for Gas delivered each Month, equal to the following: (a) From the Effective Fort Union In-Service Date until the WIC In-Service Date, the price to be paid, as well as the quantity of Gas to be purchased shall be mutually agreed upon, fixed by the Parties on or before the last trading Day of the NYMEX contract for the delivery Month. If no price and quantity are agreed upon by such date, at Seller's Gas shall shalloption Seller's Gas may be gathered during such Month under pursuant to the terms of the Gathering Services Agreement. Seller agrees to pay a fee for this service equal to the Gathering Fee, plus actual fuel and shrinkage, as set forth in the Gathering Services Agreement. (b) From and after the WIC In-Service Date the price per MMBtu of Gas purchased by Buyer and paid to Seller will be computed based upon the following: for volumes of Gas delivered hereunder each Day for up to eighty percent (80%) of Seller's First gas delivered hereunder each Day the price shall be: for volumes up to 10,000 MMBtu per day and between 20,000 MMBtu per day and 30,000 MMBtu per day, the price shall equal the Inside F.E.R.C. first of the Month Scheduled Volume "Index Price" for NGPL (OK) plus $0.02, less the total of (i)actual transportation rates on Trailblazer Pipeline Company transportation rates including fuel and surcharges, plus (ii)actual transportation rates on Wyoming Interstate Company's Medicine Bow Lateral transportation rates including fuel and surcharges, plus (iii) the Gathering Services Fee, plus actualfuel. If the total volume of gas purchased by Buyer hereunder equals forty-five (45) Bcf by December 31, 2002 or sixty (60) Bcf by December 31, 2004, then the fee for Gathering Services shall be reduced by $0.02 per Mcf for volumes delivered thereafter;fuel and shrinkage; and for volumes between 10,000 MMBtu per day and 20,000 MMBtu per day and above 30,000 MMBtu per day, but not greater than 48,000 MMBtu per day, the price per MMBtu shall be equal to the Inside F.E.R.C. first of the Month "Index Price" for Colorado Interstate Gas Co. – Rocky Mountains minus $0.01 per MMBtu, less the Gathering Services Fee including Fee, plus actual fuel. If the total volume of gas purchased by Buyer hereunder equals forty-five (45) Bcf by December 31, 2002 or sixty (60) Bcf by December 31, 2004, then the fee for Gathering Services shall be reduced by $0.02 per Mcf for volumes delivered thereafter. fuel and shrinkage: . (ii) for the remaining volume twenty percent (20%) of Seller's Gas gas delivered hereunder each Day the price shall equal the Gas Daily Price for Rockies, CIG (North System) for each Day minus $0.02 per MMBtuday, less the Gathering Services Fee including fuel and shrinkage. Seller has the option to adjust the percentage weighting of each pricing option listed above by providing Buyer seven (7) Business Days notice prior to the beginning of the delivery MonthFee, plus actual fuel. If the total volume of gas purchased by Buyer does not receive timely notification from Sellerhereunder equals forty-five (45) Bcf by December 31, 2002 or sixty (60) Bcf by December 31, 2004, then the pricing mechanism fee for Gathering Services shall default to the above percentage weightings. [Let’s discuss this concept, if necessary]be reduced by $0.02 per Mcf for volumes delivered thereafter . If one of the any referenced index is not available in the future, and the Parties do not agree to an alternative as of the end of the first Month for which the price could not be determined, then the remaining referenced determination of a replacement index will be used; provided however, if both of the referenced indices are not available in the future, and the Parties do not agree to an alternative as of the end of the first Month for which the price could not be determined, then this Agreement shall be terminated and the Gathering Services Agreement shall be controllingsubject to arbitration.

Initial Price. From the Effective Date until that date that is two one (21) Years from the WIC In-Service Date December 1, 2001 ("Initial Pricing Term"), and Month to Month thereafter until either Party makes the Renegotiation Election, Buyer shall pay a price per MMBtu determined in accordance with Appendix "1" (in each case, the "Contract Price"), determined on a dry basis, for Gas delivered each Month, equal to the following: (a) From the Effective Date until the WIC In-Service Date, the price to be paid, as well as the quantity of Gas to be purchased shall be mutually agreed upon, fixed by the Parties on or before the last trading Day of the NYMEX contract for the delivery Month. If no price and quantity are agreed upon by such date, Seller's Gas shall be gathered during such Month under the Gathering Services Agreement. (b) : From and after the WIC In-Service Effective Date the price per MMBtu of Gas purchased by Buyer and paid to Seller will be computed based upon the following: : (i) for volumes of Gas delivered hereunder each Day for up to eighty percent (80%) of Seller's First of the Month Scheduled Volume the price per MMBtu shall be equal to the Inside F.E.R.C. first of the Month "Index Price" for Colorado Interstate Gas Co. – Rocky Mountains minus plus $0.01 0.115 per MMBtu, less the total of (i) the Wyoming Interstate Company's Medicine Bow Lateral transportation rates including fuel and surcharges, plus (ii) the Gathering Services Fee including fuel and shrinkage: . (ii) for the remaining volume of Seller's Gas delivered hereunder each Day the price shall equal the Gas Daily Price for Rockies, CIG (North System) for each Day minus $0.02 0.025 per MMBtu, less the Gathering Services Fee including fuel and shrinkage. Seller has the option to adjust the percentage weighting of each pricing option listed above by providing Buyer seven (7) Business Days notice prior to the beginning of the delivery Month. If Buyer does not receive timely notification from Seller, the pricing mechanism shall default to the above percentage weightings. [Let’s discuss this concept, if necessary]. If one of the any referenced index is not available in the future, and the Parties do not agree to an alternative as of the end of the first Month for which the price could not be determined, then the remaining referenced determination of a replacement index will be used; provided however, if both of the referenced indices are not available in the future, and the Parties do not agree to an alternative as of the end of the first Month for which the price could not be determined, then this Agreement shall be terminated and the Gathering Services Agreement shall be controllingsubject to arbitration.

Initial Price. From the Effective Date until that date that is two one (212) Years from the WIC In-Service Date ("Initial Pricing Term"), and Month to Month thereafter until either Party makes the Renegotiation Election, Buyer shall pay a price per MMBtu determined in accordance with Appendix "1" (in each case, the "Contract Price"), determined on a dry basis, for Gas delivered each Month, equal to the following: (a) From the Effective Date until the WIC In-Service Date, the price to be paid, as well as the quantity of Gas to be purchased shall be mutually agreed upon, fixed by the Parties on or before the last trading Day of the NYMEX contract for the delivery Month. If no price and quantity are agreed upon by such date, Seller's Gas shall be gathered during such Month under the Gathering Services Agreement. (b) From and after the WIC In-Service Date the price per MMBtu of Gas purchased by Buyer and paid to Seller will be computed based upon the following: for volumes of Gas delivered hereunder each Day for up to eighty percent (80%) of Seller's First of the Month Scheduled Volume the price per MMBtu shall be equal to the Inside F.E.R.C. first of the Month "Index Price" for Colorado Interstate Gas Co. – Rocky Mountains minus $0.01 per MMBtuMountains, less the Gathering Services Fee including fuel and shrinkage: : (ii) for the remaining volume of Seller's Gas delivered hereunder each Day the price shall equal the Gas Daily Price for Rockies, CIG (North System) for each Day minus $0.02 per MMBtu, less the Gathering Services Fee including fuel and shrinkage. Seller has the option to adjust the percentage weighting of each pricing option listed above by providing Buyer seven (7) Business Days notice prior to the beginning of the delivery Month. If Buyer does not receive timely notification from Seller, the pricing mechanism shall default to the above percentage weightings. [Let’s discuss this concept, if necessary]. If one of the referenced index is not available in the future, and the Parties do not agree to an alternative as of the end of the first Month for which the price could not be determined, then the remaining referenced index will be used; provided however, if both of the referenced indices are not available in the future, and the Parties do not agree to an alternative as of the end of the first Month for which the price could not be determined, then this Agreement shall be terminated and the Gathering Services Agreement shall be controlling.

Initial Price. From the Effective Date until that date that is two one (212)three (3) Years from the WIC In-Service Date ("Initial Pricing Term"), and Month to Month thereafter until either Party makes the Renegotiation Election, Buyer shall pay a price per MMBtu determined in accordance with Appendix "1" (in each case, the "Contract Price"), determined on a dry basis, for Gas delivered each Month, equal to the following: (a) From the Effective Fort Union In-Service Date until the WIC In-Service Date, the price to be paid, as well as the quantity of Gas to be purchased shall be mutually agreed upon, fixed by the Parties on or before the last trading Day of the NYMEX contract for the delivery Month. If no price and quantity are agreed upon by such date, Seller's Gas shall be gathered during such Month under the Gathering Services Agreement. (b) From and after the WIC In-Service Date the price per MMBtu of Gas purchased by Buyer and paid to Seller will be computed based upon the following: for volumes of Gas delivered hereunder each Day for up to eighty percent (80%) of Seller's First of the Month Scheduled Volume the price shall be: (1) for volumes up to the first 10,000 MMBtu per Day the price shall equal the Inside F.E.R.C. first of the Month "Index Price" for NGPL (OK), less the total of (i) Trailblazer Pipeline Company transportation rates including fuel and surcharges, plus (ii) Wyoming Interstate Company's Medicine Bow Lateral transportation rates including fuel and surcharges, plus (iii) the Gathering Services Fee including fuel and shrinkage; and (2) for volumes in excess of 10,000 MMBtu per Day and up to eighty percent (80%) of the the First of the Month Scheduled Volume the price per MMBtu shall be equal to the Inside F.E.R.C. first of the Month "Index Price" for Colorado Interstate Gas Co. – Rocky Mountains minus plus $0.01 0.12 per MMBtu, less the total of (i) the Wyoming Interstate Company's Medicine Bow Lateral transportation rates including fuel and surcharges, plus (ii) the Gathering Services Fee including fuel and shrinkage: . (ii) for the remaining volume of Seller's Gas delivered hereunder each Day the price shall equal the Gas Daily Price for Rockies, CIG (North System) for each Day minus $0.02 0.025 per MMBtu, less the Gathering Services Fee including fuel and shrinkage. Seller has the option to adjust the percentage weighting of each pricing option listed above by providing Buyer seven (7) Business Days notice prior to the beginning of the delivery Month. If Buyer does not receive timely notification from Seller, the pricing mechanism shall default to the above percentage weightings. [Let’s discuss this concept, if necessary]. If one of the any referenced index is not available in the future, and the Parties do not agree to an alternative as of the end of the first Month for which the price could not be determined, then the remaining referenced determination of a replacement index will be used; provided however, if both of the referenced indices are not available in the future, and the Parties do not agree to an alternative as of the end of the first Month for which the price could not be determined, then this Agreement shall be terminated and the Gathering Services Agreement shall be controllingsubject to arbitration.

Initial Price. From the Effective Date until that date that is two one (212) Years from the WIC In-Service Date DateDecember 1, 2001 ("Initial Pricing Term"), and Month to Month thereafter until either Party makes the Renegotiation Election, Buyer shall pay a price per MMBtu determined in accordance with Appendix "1" (in each case, the "Contract Price"), determined on a dry basis, for Gas delivered each Month, equal to the following: (a) From the Effective Date until the WIC In-Service Date, the price to be paid, as well as the quantity of Gas to be purchased purchase/tmp/libreoffice_files_conversion/LtjObr3PXeh.docd shall be mutually agreed upon, fixed by the Parties on or before the last trading Day of the NYMEX contract for the delivery Month. If no price and quantity are agreed upon by such date, Seller's Gas shall be gathered during such Month under the Gathering Services Agreement. (b) From and after the WIC In-Service Date the The price per MMBtu of Gas purchased by Buyer and paid to Seller will be computed based upon the following: : (i) for volumes of Gas delivered hereunder each Day for up forup to eighty percent (80%) of Seller's First of the Month Scheduled Volume the price per MMBtu shall be equal to the Inside F.E.R.C. first of the Month "Index Price" for Colorado Interstate Gas Co. – Rocky Mountains minus plus $0.01 0.12 per MMBtu, less the total of (i) the Wyoming Interstate Company's Medicine Bow Lateral transportation rates including fuel and surcharges, plus (ii) the Gathering Services Fee including fuel and shrinkage: . (ii) for the remaining volume of Seller's Gas delivered hereunder each Day the price shall equal the Gas Daily Price for Rockies, CIG (North System) for each Day minus $0.02 per MMBtu, less the Gathering Services Fee including fuel and shrinkage. Seller has the option to adjust the percentage weighting of each pricing option listed above by providing Buyer seven (7) Business Days notice prior to the beginning of the delivery Month. If Buyer does not receive timely notification from Seller, the pricing mechanism shall default to the above percentage weightings. [Let’s discuss this concept, if necessary]. If one of the any referenced index is not available in the future, and the Parties do not agree to an alternative as of the end of the first Month for which the price could not be determined, then the remaining referenced determination of a replacement index will be used; provided however, if both of the referenced indices are not available in the future, and the Parties do not agree to an alternative as of the end of the first Month for which the price could not be determined, then this Agreement shall be terminated and the Gathering Services Agreement shall be controllingsubject to arbitration.

Initial Price. From the Effective Date until that date that is two one (212) Years from the WIC In-Service Date ("Initial Pricing Term"), and Month to Month thereafter until either Party makes the Renegotiation Election, Buyer shall pay a price per MMBtu determined in accordance with Appendix "1" (in each case, the "Contract Price"), determined on a dry basis, for Gas delivered each Month, equal to the following: (a) From the Effective Date until the WIC In-Service Date, the price to be paid, as well as the quantity of Gas to be purchased purchase/tmp/libreoffice_files_conversion/zXndEwHpZ0j.docd shall be mutually agreed upon, fixed by the Parties on or before the last trading Day of the NYMEX contract for the delivery Month. If no price and quantity are agreed upon by such date, Seller's Gas shall be gathered during such Month under the Gathering Services Agreement. (b) From and after the WIC In-Service Date the price per MMBtu of Gas purchased by Buyer and paid to Seller will be computed based upon the following: : (i) for volumes of Gas delivered hereunder each Day for up to eighty percent (80%) of Seller's First of the Month Scheduled Volume the price per MMBtu shall be equal to the Inside F.E.R.C. first of the Month "Index Price" for Colorado Interstate Gas Co. – Rocky Mountains minus plus $0.01 0.12 per MMBtu, less the total of (i) the Wyoming Interstate Company's Medicine Bow Lateral transportation rates including fuel and surcharges, plus (ii) the Gathering Services Fee including fuel and shrinkage: . (ii) for the remaining volume of Seller's Gas delivered hereunder each Day the price shall equal the Gas Daily Price for Rockies, CIG (North System) for each Day minus $0.02 per MMBtu, less the Gathering Services Fee including fuel and shrinkage. Seller has the option to adjust the percentage weighting of each pricing option listed above by providing Buyer seven (7) Business Days notice prior to the beginning of the delivery Month. If Buyer does not receive timely notification from Seller, the pricing mechanism shall default to the above percentage weightings. [Let’s discuss this concept, if necessary]. If one of the any referenced index is not available in the future, and the Parties do not agree to an alternative as of the end of the first Month for which the price could not be determined, then the remaining referenced determination of a replacement index will be used; provided however, if both of the referenced indices are not available in the future, and the Parties do not agree to an alternative as of the end of the first Month for which the price could not be determined, then this Agreement shall be terminated and the Gathering Services Agreement shall be controllingsubject to arbitration.