Canyon Creek Compression Company

Third Revised Volume No. 1

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Effective Date: 05/01/1997, Docket: RP97- 66-002, Status: Effective

First Revised Sheet No. 128 First Revised Sheet No. 128 : Effective

Superseding: Original Sheet No. 128

GENERAL TERMS AND CONDITIONS

----------------------------

 

12.3 CASHOUT PROCEDURES

 

Any imbalance remaining will be cashed out on a tiered

basis pursuant to the following schedule:

 

OVERAGE UNDERAGE

IMBALANCE LEVEL (Canyon pays Shipper) (Shipper pays Canyon)

---------------- --------------------- ---------------------

 

0% to 5% 100% x AMIP 100% x AMIP

 

Greater than

5% to 10% 90% x AMIP 110% x AMIP

 

Greater than

10% to 15% 80% x AMIP 120% x AMIP

 

Greater than

15% to 20% 70% x AMIP 130% x AMIP

 

Greater than 20% 60% x AMIP 140% x AMIP

 

(a) Following any offsetting with other Shippers, a

Shipper's remaining imbalance will be cashed out based on the

percentage of that imbalance compared to the total receipts for that

Shipper during the month. For example, if the total receipts were

1,000 Dth and the remaining underage imbalance after offsetting with

other Shippers was 100 Dth, the total Imbalance Level would be 10%.

The first 5% (50 Dth) would be cashed out at 100% of the AMIP and

the remaining 50 Dth would be cashed out at 110% of the AMIP.

 

(b) The Average Monthly Index Price (AMIP) is the

arithmetic average of Weekly Index Prices (WIPs). The WIP for any

week is the following index price reported in 'Gas Price Report'

contained in the publication, "Natural Gas Week":

 

Rocky Mountains, Spot Delivered to Pipeline.

 

In calculating the AMIP, the WIPs will be based on the prices

reported in the issue of "Natural Gas Week" dated on or after

Canyon's nomination deadline for first of the month service for that

month, and the subsequent issues dated prior to Canyon's nomination

deadline for the following month's first of the month service.