A B C$=($A$)/($B$)$ D $=$C$^(*)$D Step $1$: Calc NGL value Prices $(($$$)/($G$)$al$)$ Conversion Factor $($mmBt$($u$)/($G$)$al$)$ Composition $($note $1)$ Value of NGL $(($$$)/($m$)$mbtu$)$ Step $3$: Frac Spread $1\mathrm{.}95,$ yes $-0\mathrm{.}50,$ no $2\mathrm{.}05,$ yes $1\mathrm{.}82,$ yes $1\mathrm{.}75,$ yes