Residue Gas Value. The net residue gas value will be determined by multiplying the MMBtus of residue gas allocable to Seller times the index price per MMBtu published in INSIDE F.E.R.C.'S GAS MARKET REPORT in its first publication of the month in which the gas is delivered for "PRICES OF SPOT GAS DELIVERED TO PIPELINES" for HOUSTON SHIP CHANNEL (LARGE PACKAGES ONLY)("INDEX PRICE") less 15{cent} per MMBtu for Seller's residue gas. If this Index Price quotation is discontinued or materially modified, its successor will be used, or in the absence of a successor, Buyer and Seller will promptly select another publication that enables calculation of an Index Price closely comparable to that previously used. If a change in the Index Price becomes necessary, Buyer will so inform Seller by written notice, setting forth Buyer's proposed changes.
Residue Gas Value. The Residue Gas value will be the weighted average of the prices per MMBtu received by Buyer f.o.
Residue Gas Value. Processor agrees to pay Producer an amount equal to Processor’s Weighted Average Sales Price (“WASP”) per MMBTU that Processor receives from the sale of Producer’s Percentage of Producer’s allocated share of Residue Gas. The remaining portion of Producer’s allocated share of Residue Gas will be retained and owned by Processor and Processor may dispose of same in any manner without any claim by, or accruing to, Producer. “Weighted Average Sales Price” (WASP) as used in subparagraph 5.1(b) shall mean the weighted average sales price received by Processor for North Texas Gas sales each Month after deducting all direct and indirect expenses, taxes, fees and adjustments, including, but not limited to, transportation, marketing, storage, loading, third party blending and/or treating fees, commissions, pipeline losses and retainage, freight allowances and adjustments for Product quality incurred or made by Processor in connection with the sale of said Residue Gas. Processor and Producer agree that upon the effective date of this Contract, Producer is and shall continue until November 1, 2014 taking its share of Residue Gas in-kind at the tailgate of the Xxxxxxxxxxx plant. November 1, 2014 and each November 1st thereafter upon at least ninety (90) days advance written notice Producer shall have the option to;
(i) Cease taking its Residue Gas in-kind and have Processor pay Producer for its Residue Gas in accordance with the terms of this Contract; or
(ii) Continue taking its Residue Gas in-kind at the tailgate of the Xxxxxxxxxxx plant or Springtown plant. In the event the plant chosen is a change from prior year and such a change will cause a financial loss for Processor or an affiliate, Processor shall have the right to not accept such change and Producer shall select option (i) or continue taking in-kind its Residue Gas at the plant at winch it is currently taking its Residue Gas. The scheduling receipt and delivery of Producer’s allocated share of Residue Gas shall be in accordance with Enbridge’s North Texas scheduling and balancing procedures as adjusted from time to time.
Residue Gas Value. (a) The net Residue Gas value will be the month’s average of each day’s Platts Gas Daily mid-point prices posted for the delivery month for “Daily Price Survey” Permian Basin Area — Waha (“Daily Index Price”), less $0.06 per MMBtu.
(b) If the Index Price or Daily Index Price quotation is discontinued or materially modified, its successor shall be used, or in the absence of a successor, Buyer and Seller shall promptly select another publication that enables calculation of an Index Price or Daily Index Price closely comparable to that previously used. If the Daily Index Price is discontinued or materially modified, Buyer or Seller will inform the other party by written notice, stating its proposed changes and the reason for the changes.
Residue Gas Value. The net Residue Gas value will be the price per MMBtu published in Inside F.E.R.C.‘s Gas Market Report in its first publication of the delivery month for “Prices of Spot Gas Delivered to Pipelines” for Houston Ship Channel (“Index Price”) less $0.13 per MMBtu. If this price quotation is discontinued or materially modified, its successor will be used, or in the absence of a successor, Buyer will select another publication that enables calculation of an Index Price closely comparable to that previously used. If a change in the Index Price becomes necessary, Buyer will so inform Seller by written notice, stating the changes and the reason for the changes. 3
Residue Gas Value. The net residue gas value will be determined by multiplying the MMBtu’s of residue gas attributable to Seller times the “Index Price,” which shall be *****(1)% of the price per MMBtu published in Inside F.E.
Residue Gas Value. The net Residue Gas value will be determined by multiplying the MMBtus of Residue Gas attributable to Seller times ninety eight percent (98%) of the “Index Price,” which will be the price per MMBtu published in Inside F.E.R.
Residue Gas Value. Buyer shall pay to Seller a percentage of the “net value of the residue gas”. Such percentage shall be determined from the table in Paragraph 5.3 on the basis of Seller’s Monthly Processed Volume. “Net value of the residue gas” shall mean the gross value received from the sale of the residue gas attributable to Seller’s gas less transportation costs (if any) from the plant tailgate to the point of sale. The volume of residue gas sold from the gas delivered hereunder shall be that proportionate part of the total volume of residue gas sold from Buyer’s plant, which is determined in accordance with the provisions of Paragraph 10.2 of Article X.
Residue Gas Value. The net residue gas value will be determined by multiplying the MMBtu’s of residue gas attributable to Seller times the “Index Price,” which shall be 98% of the price per MMBtu published in Inside F.E.R.C. ‘s Gas Market Report in its first publication of the month in which the gas is delivered for “Prices of Spot Gas Delivered to Pipelines” for Panhandle Eastern Pipeline Company: Texas, Oklahoma (mainline). If this price quotation is discontinued or materially modified, its successor will be used, or in the absence of a successor, Buyer will select another publication that enables calculation of an Index Price closely comparable to that previously used. If a change in the Index Price calculation becomes necessary, Buyer will so inform Seller by written notice, setting forth the changes.
