Does the 5 year transition option apply to field condensate?
Yes, companies that choose to have the 5 year transition option apply to their qualifying natural gas well will also be subject to the 5 year transition option for the associated field condensate production from this well event. Companies may not elect to have the 5 year transition option apply to only a portion of the production from the well event. The methodology for determining the volume for royalty formulas will remain consistent with the Royalty Framework.
