When ‘wet’ gas is processed, the plant products / liquids are separated from the gas and sold separately. These are ethane, propane, butane, etc. The remaining (shrunken volume) ‘dry’ gas is sold at the tailgate of the plant. Most often, the operator will report the residue volume along with the residue gas sales. The volumes and resulting values of liquid products varies in gas streams from different formations and wells within a formation. Some operators, such as your first example, report the gas sales and products sales separately on royalty checks. Other operators, such as your second example, report the combined gas and products sales as gas sales. They will use the higher pipeline gas volume. To compare the ‘gas’ prices, you need to add the gas and products sales together and divide the total sales by the volume reported on RRC website as going into the pipeline - for operator #1. Then take the gas sales (actually residue gas and products) from operator #2 and divide that by the gas volume into the pipeline. You will find the resulting gas price to be much closer.
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