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DEFINITIONS
Terms Used
With some leases, when one or more parity markets its share of production WHP displays one blended price for gross volume sold.
| NYMEX WTI | Calendar Month Nymex daily settled price during the specified month (excluding weekends and holidays). |
| Gross Barrels ( Gross BBL) | Total volume sold over the defined period. |
| BOPD | Gross barrels of Crude Oil reported sold per month divided by month’s number of days. |
| Gross $ (Gross Value) | Total dollars reported for gross barrels sale.s |
| $/BBL | Seller’s Gross Value divided by Gross Barrels for specified month. |
| $/BBL vs WTI | Seller’s Gross Value divided by Gross Barrels for any particular month. |
With some leases, all commodities are added together (with exception of condensate) in determining volume and price.
| Net Mcf $ (Net Value) | |
| Your Mcf Natural Gas | |
| $/Mcf | Sellers Net Net Value divided by Your Mcf Natural Gas for defined period of time. |
| Mcf/day | Your Mcf Natural Gas divided by total number of days searched. |
| MCF | 1000 Cubic Feet of natural gas |
Condensate is liquid produced from a gas well.
| BCPD | Gross barrels of Condensate reported sold per month divided by month’s number of days. |
| $/BBL | Seller’s Net Value divided by Gross Barrels for specified month |
| Your BBLs | Producer’s total barrels Condensate sold over prescribed period of time. |
| Your Gross $ | Net value of product after all applicable deductions. |