Common use of Initial Price Clause in Contracts

Initial Price. From the Effective Date until 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: From and after the 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 shall be the Inside F.E.R.C. first of the Month "Index Price" for Colorado Interstate Gas Co. – Rocky Mountains plus $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 $0.025 per MMBtu, less the Gathering Services Fee including fuel and shrinkage. If 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 determination of a replacement index shall be subject to arbitration.

Initial Price. From the Effective Date until December 1, 2001 that date that is two (2)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 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 Effective 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 shall be 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 equal the Inside F.E.R.C. first of the Month "Index Price" for Colorado Interstate Gas Co. – Rocky Mountains plus $0.115 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 $0.025 per MMBtu, less the Gathering Services Fee including fuel and shrinkage. If 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 determination of a replacement index shall be subject to arbitration.

Initial Price. From the Effective Date until December 1, 2001 that date that is two (2) 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 Effective 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 plus $0.115 per MMBtuMountains, 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 $0.025 0.02 per MMBtu, less the Gathering Services Fee including fuel and shrinkage. If any 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 determination remaining referenced index will be used; provided however, if both of a replacement index 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 subject to arbitrationterminated and the Gathering Services Agreement shall be controlling.

Initial Price. From the Effective Date until December that date that is two (2) Years from the WIC In-Service 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 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 Effective 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 shall be the Inside F.E.R.C. first of the Month "Index Price" for Colorado Interstate Gas Co. – Rocky Mountains plus $0.115 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 $0.025 0.02 per MMBtu, less the Gathering Services Fee including fuel and shrinkage. If 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 determination of a replacement index shall be subject to arbitration.

Initial Price. From the Effective Date until December 1, 2001 that date that is two (2) 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 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 Effective 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 shall be the Inside F.E.R.C. first of the Month "Index Price" for Colorado Interstate Gas Co. – Rocky Mountains plus $0.115 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 $0.025 0.02 per MMBtu, less the Gathering Services Fee including fuel and shrinkage. If 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 determination of a replacement index shall be subject to arbitration.

Initial Price. From the Effective Date until December 1, 2001 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 Effective 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 plus minus $0.115 0.01 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 $0.025 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 any 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 determination remaining referenced index will be used; provided however, if both of a replacement index 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 subject to arbitrationterminated and the Gathering Services Agreement shall be controlling.

Initial Price. From the Effective Date until December 1, 2001 that date that is two (2) 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 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 shalloption Seller's Gas may be gathered during such Month 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 Effective 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 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 the Inside F.E.R.C. first of the Month "Index Price" for Colorado Interstate Gas Co. – Rocky Mountains plus $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 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 $0.025 per MMBtuday, less the Gathering Services Fee including fuel and shrinkageFee, 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 . If 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 determination of a replacement index shall be subject to arbitration.