Common use of Index Price Clause in Contracts

Index Price. For Gas produced from the Marcellus formation in West Virginia, the “Midpoint Average” price published in Xxxxx’x Gas Daily Price Guide for “Columbia Gas/Appalachia”. For Gas produced from the Utica formation in Ohio, the “Midpoint Average” price published in Xxxxx’x Gas Daily Price Guide for “Texas Eastern M-2 Receipts”. For other Gas production, an index price determined by Shipper and reasonably acceptable to Gatherer based on where such Gas production is being sold, or, if no appropriate index is available, a price based on a netback calculation determined by Shipper and reasonably acceptable to Gatherer.

Index Price. For Gas produced from the Marcellus formation in West Virginia, the “Midpoint Average” price published in Xxxxx’x Gas Daily Price Guide for “Columbia Gas/Appalachia”. For Gas produced from the Utica formation in Ohio, the “Midpoint Average” price published in Xxxxx’x Gas Daily Price Guide for “Texas Eastern M-2 Receipts”. For other Gas production, an index price determined by Shipper Producer and reasonably acceptable to Gatherer Processor based on where such Gas production is being sold, or, if no appropriate index is available, a price based on a netback calculation determined by Shipper Producer and reasonably acceptable to GathererProcessor.