Meaning First purchase
What does First purchase mean? Here you find 2 meanings of the word First purchase. You can also add a definition of First purchase yourself
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First purchase An equity (not custody) transaction commonly associated with the transfer of ownership of crude oil coupled with the physical removal of the crude oil from a property (lease) for the first time. A f [..]
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First purchaseAn equity (not custody) transaction involving an arms-length transfer of ownership of crude oil associated with the physical removal of crude oil from a property (lease) for the first time. A first purchase normally occurs at the time and place of ownership transfer where the crude oil volume sold is measured and recorded on a run ticket or other s [..]
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