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Simple English definitions for legal terms
market value at the well
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A quick definition of market value at the well:
Market value at the well: This refers to the value of oil or gas at the place where it is sold, after taking into account the cost of transporting and processing it to make it marketable. In simpler terms, it is the amount of money that someone is willing to pay for the oil or gas at the location where it is being sold.
Market volume: This term has two meanings. Firstly, it refers to the total number of shares that are traded on a stock exchange in one day. Secondly, it can also refer to the total number of shares of one particular stock that are traded on a single day. Essentially, it is a measure of how active the market is for a particular stock or stocks in general.
A more thorough explanation:
Definition: Market value at the well refers to the value of oil or gas at the place where it is sold, minus the reasonable cost of transporting it and processing it to make it marketable.
For example, if a barrel of oil is sold for $50 at the well, but it costs $5 to transport and process it, the market value at the well would be $45.
Definition: Market volume refers to the total number of shares traded on a stock exchange in one day or the total number of shares of one stock traded on one day.
For example, if 10 million shares of Apple stock are traded on the New York Stock Exchange in one day, the market volume for Apple stock on that day would be 10 million shares.
These examples illustrate how market value at the well and market volume are used in the oil and gas industry and stock market, respectively. Understanding these terms is important for investors and industry professionals to make informed decisions about buying and selling commodities and stocks.