Miller and Lents’ March 2018 installment of SEC First Day of the Month Prices. Miller and Lents’ is your source for up-to-date information on prices, regulations, and more. Visit our website (www.millerandlents.com) to download a copy of the M&L price file with historical pricing data.

1. MILLER AND LENTS, GLOBAL OIL AND GAS CONSULTANTS
2018 Calendar Year
First‐Day‐of‐the‐Month (FDOTM) Crude Oil Benchmark Prices
Index WTI Front Month (CLc1) WTI Spot (WTC) LA Light Sweet Spot (LLS) Europe Brent Front Month (LCOc1) Europe Brent Spot
Source Thomson Reuters Thomson Reuters Thomson Reuters Thomson Reuters EIA
Product Oil Oil Oil Oil Oil
Units ($/bbl) ($/bbl) ($/bbl) ($/bbl) ($/bbl)
Month FDOTM Prior 12‐mo FDOTM Prior 12‐mo FDOTM Prior 12‐mo FDOTM Prior 12‐mo FDOTM Prior 12‐mo
January 60.42 51.90 60.46 51.90 65.51 55.17 66.87 55.77 66.73 55.40
February 65.80 52.89 65.92 52.90 68.72 56.27 69.65 56.84 68.60 56.47
March 60.99 53.49 60.98 53.49 63.28 56.91 63.83 57.46 64.23 57.18
April
May
June
July
August
September
October
November
December
Annual Average 62.40 62.45 65.84 66.78 66.52
2017 Calendar Year
First‐Day‐of‐the‐Month (FDOTM) Crude Oil Benchmark Prices
Index WTI Front Month (CLc1) WTI Spot (WTC) LA Light Sweet Spot (LLS) Europe Brent Front Month (LCOc1) Europe Brent Spot
Source Thomson Reuters Thomson Reuters Thomson Reuters Thomson Reuters EIA
Product Oil Oil Oil Oil Oil
Units ($/bbl) ($/bbl) ($/bbl) ($/bbl) ($/bbl)
Month FDOTM Prior 12‐mo FDOTM Prior 12‐mo FDOTM Prior 12‐mo FDOTM Prior 12‐mo FDOTM Prior 12‐mo
January 53.72 44.14 53.75 43.99 55.10 45.69 56.82 46.12 54.96 44.43
February 53.88 45.99 53.90 45.85 55.53 47.58 56.80 48.00 55.79 46.38
March 53.83 47.61 53.82 47.47 55.60 49.14 56.36 49.63 55.72 48.04
April 50.60 48.76 50.54 48.73 52.42 50.42 52.83 50.81 52.20 49.36
May 48.84 49.01 48.83 48.97 50.68 50.64 51.52 51.09 50.41 49.75
June 48.36 48.95 48.32 48.91 50.47 50.62 50.63 51.17 50.41 49.89
July 46.04 48.71 46.02 48.66 48.12 50.38 47.92 50.97 47.08 49.84
August 49.16 49.46 49.19 49.42 51.49 51.20 51.78 51.77 50.77 50.72
September 47.29 49.81 47.32 49.76 51.40 51.75 52.75 52.38 53.15 51.40
October 51.67 50.09 51.67 50.09 56.47 52.32 57.54 53.09 57.02 52.13
November 54.30 50.73 54.32 50.73 60.37 53.35 60.49 54.12 60.98 53.40
December 58.36 51.34 58.35 51.34 64.00 54.30 63.73 54.93 64.57 54.42
Annual Average 51.34 51.34 54.30 54.93 54.42
The above pricing data is provided for informational purposes only and was accepted as represented by various sources cited herein. Miller and Lents, Ltd. accepts no responsibility for the accuracy of this data.

2. MILLER AND LENTS, GLOBAL OIL AND GAS CONSULTANTS
2018 Calendar Year
First‐Day‐of‐the‐Month (FDOTM) Gas Benchmark Prices
Index Henry Hub Dominion, South Point NGPL, Midcontinent Houston Ship Channel CIG, Rockies
Source Platts Platts Platts Platts Platts
Product Gas Gas Gas Gas Gas
Units ($/MMbtu) ($/MMbtu) ($/MMbtu) ($/MMbtu) ($/MMbtu)
Month FDOTM Prior 12‐mo FDOTM Prior 12‐mo FDOTM Prior 12‐mo FDOTM Prior 12‐mo FDOTM Prior 12‐mo
January 3.580 2.970 3.040 2.088 3.760 2.715 4.400 3.058 3.455 2.621
February 3.205 2.987 2.955 2.101 2.725 2.705 3.090 3.067 2.385 2.585
March 2.610 2.995 2.105 2.109 2.245 2.695 2.550 3.071 2.175 2.569
April
May
June
July
August
September
October
November
December
Annual Average 3.132 2.700 2.910 3.347 2.672
2017 Calendar Year
First‐Day‐of‐the‐Month (FDOTM) Gas Benchmark Prices
Index Henry Hub Dominion, South Point NGPL, Midcontinent Houston Ship Channel CIG, Rockies
Source Platts Platts Platts Platts Platts
Product Gas Gas Gas Gas Gas
Units ($/MMbtu) ($/MMbtu) ($/MMbtu) ($/MMbtu) ($/MMbtu)
Month FDOTM Prior 12‐mo FDOTM Prior 12‐mo FDOTM Prior 12‐mo FDOTM Prior 12‐mo FDOTM Prior 12‐mo
January 3.650 2.593 3.185 1.496 3.520 2.426 3.510 2.553 3.615 2.369
February 3.005 2.655 2.795 1.607 2.845 2.481 2.985 2.615 2.820 2.421
March 2.510 2.730 2.010 1.694 2.355 2.557 2.505 2.689 2.360 2.503
April 3.095 2.828 2.815 1.826 2.720 2.638 3.105 2.782 2.625 2.581
May 3.165 2.933 2.630 1.934 2.840 2.725 3.215 2.898 2.685 2.660
June 3.005 3.010 2.235 1.997 2.665 2.784 3.150 2.996 2.630 2.724
July 2.950 3.014 1.920 2.023 2.555 2.770 3.055 3.018 2.415 2.715
August 2.835 3.005 1.845 2.064 2.610 2.760 2.785 3.005 2.555 2.704
September 2.890 3.001 1.420 2.080 2.675 2.750 2.925 3.014 2.625 2.703
October 2.900 3.006 0.745 2.116 2.540 2.745 2.915 3.013 2.325 2.683
November 2.770 3.005 1.225 2.090 2.545 2.753 2.760 3.015 2.505 2.693
December 2.940 2.976 2.370 2.100 2.465 2.695 2.900 2.984 2.450 2.634
Annual Average 2.976 2.100 2.695 2.984 2.634
The above pricing data is provided for informational purposes only and was accepted as represented by various sources cited herein. Miller and Lents, Ltd. accepts no responsibility for the accuracy of this data.