NGL Component definition
Examples of NGL Component in a sentence
On or before the 15th Business Day of the Month following the Month of delivery, Buyer shall deliver to Seller a statement showing for the Month of delivery the nominated and estimated amounts of Raw Product delivered for sale hereunder, and the applicable NGL Component price(s).
If for any reason the OPIS Index for a particular NGL Component or any other index used in the calculations made pursuant to Section 4.1 should (i) cease to be published or (ii) be materially changed, the Parties agree promptly and in good faith to negotiate a mutually satisfactory alternate index or substitute methodology for calculating the price for such Component (the “Alternate Index”).
In the event that Buyer elects to take delivery of Specification Products at the Chico Plant by truck or by injection into a crude oil or NGL Component Pipeline, in addition to the Product price described at Section 4.1(a), Buyer shall pay Seller the Chico Fractionation Fee or the Adjusted Chico Fractionation Fee, as applicable.
Gatherer shall allocate Customer’s pro rata share of each NGL Component contained in any commingled stream of Gas at any Point(s) of Delivery based on the GPMs of each NGL Component contained in Customer’s Gas as measured by chromatograph or other method acceptable in the industry at Customer’s Point(s) of Receipt.
Such weekly nomination shall designate the volume of each Specification Product to be delivered to Buyer at the tailgate of the Chico Plant (i) by truck, (ii) by re-injection into a Raw Product Pipeline, and (iii) by injection into a crude oil or NGL Component Pipeline.
On or before the 15th Business Day of the Month following the Month of delivery, Buyer shall deliver to Seller a statement showing for the Month of delivery the amount and type of Product delivered for sale hereunder, and the applicable NGL Component price(s).
Gas Liquids shall be determined by multiplying the MCF’s of SELLER’s Gas Delivered for Processing by the GPM content of each NGL Component contained in the Gas as determined from samples taken at the Receipt Point(s) and that product by the fixed “NGL Efficiencies” as described in the above Percentage Table.
Transporter shall allocate Customer’s pro rata share of each NGL Component contained in any commingled stream of Gas at any Point(s) of Delivery based on the GPMs of each NGL Component contained in Customer’s Gas as measured by chromatograph or other method acceptable in the industry at the Point(s) of Receipt.
Dynegy shall pay to MarkWest for the Raw Product delivered to Dynegy hereunder, a purchase price ("Price") equal to the applicable OPIS Monthly Index (as defined in Subsection B.1. below) for each gallon of each NGL Component (as such term is defined in Attachment B and as reported on month-end WTPL reports) contained therein less (i) Transportation Costs as defined in Subsection B.2. below; and (ii) Fractionation Costs, as defined in Subsection B.3. below.
The OPIS Price for each NGL Component is the arithmetic average of the midpoints of the daily high and low quotations applicable to the NGL Component and Region in question, determined from Exhibit C, and as reported by Oil Price Information Service ("OPIS"), on each Day during the Month of delivery for which such price is quoted using the "Any Current Month" column.