NGL Value. The net value of any recovered NGLs attributable to Seller will be weighted average sales price received by Buyer for any NGL products marketed by Buyer or Buyer’s Designee from Buyer’s Facilities during the applicable accounting period, less a local fractionation fee $0.06 per gallon with respect to locally fractionated volumes (the “Local Frac Fee”) as determined at the inlet to the fractionator, and less any applicable transportation, storage or fractionation fees incurred by Buyer for any NGL products not sold locally; except that, with respect to any NGLs delivered into the Overland Pass Pipeline (OPPL) or the Wattenberg Pipeline, the net value shall be calculated on the basis of the midpoint of the daily high/low spot price by component as reported for the Xxxxxx In-Well Spot Gas Liquids Price published by the Oil Price Information Service (or in its absence, a comparable successor publication mutually agreed to between Buyer and Seller), less the Local Frac Fee for all volumes fractionated locally and less any applicable transportation, storage or fractionation fees incurred by Buyer for all volumes transported on the OPPL and Wattenberg Pipeline.
NGL Value. The net value of any recovered NGLs attributable to Seller will be the simple average of the midpoint of the daily high/low spot price for (i) ethane in E-P mix, (ii) Non-TET propane, (iii) Non-TET isobutane, (iv) Non-TET normal butane, and (v) Non-TET natural gasoline (pentanes and heavier) during the month as reported for Mont Belvieu, Texas by the Oil Price Information Service (or in its absence, a comparable successor publication designated by Buyer) less a transportation, fractionation, and storage ("TF&S") fee of $0.06 per gallon, As of January 1 of each calendar year beginning with 2010, Buyer will adjust the TF&S fee upward or downward as follows, but not below the initial fee, by an amount equal to the annual percentage of change in the preliminary estimate of the implicit price deflator, seasonally adjusted, for the gross domestic product ("GDP") as computed and most recently published by the U.S. Department of Commerce, rounded to the nearest 100'h cent, or in its absence, a similar successor adjustment factor designated by Buyer.
NGL Value. The net value of any recovered NGLs attributable to Seller will be determined by multiplying the quantity of each NGL component attributable to Seller’s gas by the average price per gallon for each NGL component f.o.b. Buyer’s plant or plants. The term “average price per gallon for each NGL component f.o.b. Buyer’s plant or plants” as to each NGL component will mean the simple average of the midpoint of the daily high/low spot price for (i) ethane, (ii) propane, (iii) isobutane, (iv) normal butane, and (v) natural gasoline (pentanes and heavier) during the month as reported for Xxxxxx/Group 140 Spot Gas Liquids Price (Mapco), Kansas published by the Oil Price Information Service (or in its absence, a comparable successor publication designated by Buyer) less a transportation, fractionation, and storage (“TF&S”) fee of $0.065244 per gallon. The TF&S fee for NGL components shall be adjusted as follows, but shall never be less than the initial fee. The TF&S fee shall be adjusted at the beginning of each calendar year beginning with 2004 by an amount equal to the annual percentage change in the preliminary estimate of the implicit price deflator, seasonally adjusted, for the gross domestic product (“GDP”) as computed and most recently published by the U.S. Department of Commerce, or in its absence, a similar successor adjustment factor designated by Buyer.
NGL Value. The net value of any recovered NGLs attributable to Seller will be determined by multiplying the quantity of each NGL component attributable to Seller's gas by the average price per gallon for each NGL component f.o.b.
NGL Value. (a) The net value for the ethane, propane, and butanes NGLs components allocable to Seller shall be the midpoint of the daily high/low spot price for (i) ethane, (ii) propane, (iii) isobutane, and (iv) normal butane during the month as reported for the Xxxxxx In-Well Spot Gas Liquids Price published by the Oil Price Information Service (or in its absence, a comparable successor publication designated by Buyer) less a transportation, fractionation, and storage (“TF&S”) fee of $0.0724l07 per gallon. As of the beginning of each calendar year beginning with 2010, Buyer will adjust the current year’s TF&S fee for ethane, propane and butanes upward or downward, but not below the initial fee, by an amount equal to the annual percentage of change in the preliminary estimate of the implicit price deflator, seasonally adjusted, for the gross domestic product (“GDP”) as computed and most recently published by the
NGL Value. The net value of NGLs attributable to Seller will be the simple average of the midpoint of the daily high/low spot price for (i) purity ethane, (ii) non-TET propane, (iii) non-TET isobutane, (iv) non-TET normal butane, and (v) non-TET natural gasoline (pentanes and heavier) during the month as reported for Mont Belvieu, Texas published by the Oil Price Information Service (or in its absence, a comparable successor publication designated by Buyer and agreed by Seller) less Buyer’s actual reasonable TF&S costs relating to the movement to and disposition of Seller’s NGLs using transportation on the E-Z and other NGL lines for deliveries to Xxxxxx, Texas, Mont Belvieu, Texas, or other similarly-priced fractionator market centers mutually agreed by both parties, and less a $0.0025/gallon NGL marketing fee. For purposes of these TF&S cost calculations, Buyer will use a cost and volume weighting of 50% each for costs incurred for NGL handling downstream from (i) the Buyer-operated Ozona Gas Plant and (ii) Buyer’s Southwest Ozona Gas Plant. If a change in downstream NGL pipeline specifications causes a failure to meet the revised NGLs quality specifications and Buyer incurs NGL off quality fees as a result, Buyer will so notify Seller, and the parties shall then negotiate an equitable solution of the problem. Seller recognizes that Affiliates of Buyer may be involved in handling NGLs downstream from the Plant, and acknowledges that the reasonable good faith prices or fees so established will nevertheless control.
NGL Value. The net value of NGLs attributable to Seller will be the simple average of the midpoint of the daily high/low spot price for (i) purity ethane, (ii) non-TET propane, (iii) non-TET isobutane, (iv) non-TET normal butane, and (v) non-TET natural gasoline (pentanes and heavier) during the month as reported for Mont Belvieu, Texas published by the Oil Price Information Service (or in its absence, a comparable successor publication designated by Buyer and agreed by Seller) less the actual reasonable TF&S costs that Buyer incurs for the movement and disposition of NGLs using transportation on the Sand Hills Pipeline and other NGL lines for deliveries to Xxxxxx, Texas, Mont Belvieu, Texas, or other similarly-priced fractionator market centers mutually agreed by both parties, and less a $0.0025/gallon NGL marketing fee; provided, however, that with respect to calculating TF&S costs for [****]. [****]. If a change in downstream NGL pipeline specifications causes a failure to meet the revised NGLs quality specifications and Buyer incurs NGL off quality fees as a result, Buyer will so notify Seller, and the parties shall then negotiate an equitable solution of the problem; provided, however, that the terms of Section F of the General Terms and Conditions will continue to apply. [****]. Seller recognizes that Affiliates of Buyer may be involved in the handling of NGLs downstream from the Plant, and acknowledges that the reasonable good faith, fair market prices or fees so established will nevertheless control.
