VALUATION OF CRUDE OIL AND NATURAL GAS. (1) The value of Crude Oil, for all purposes under this Contract, shall be denominated in United States dollars and shall be calculated each Calendar Quarter as follows -
VALUATION OF CRUDE OIL AND NATURAL GAS. 10.1. The value of Crude Oil to be considered under this Contract shall be the F.O.B. realized market price at the Delivery Point expressed in Dollars per Barrel and payable thirty (30) days after the date of the bill of lading, as determined hereinafter for each Quarter and referred to as “Market Price”. A value shall be established for each grade of Crude Oil or for each Crude Oil blend, if any.
VALUATION OF CRUDE OIL AND NATURAL GAS
