In 1991 Bi-Petro, Inc. instituted its Advantage Pricing Programs in response to the desire of the producers to have alternatives for marketing their oil. We currently offer two pricing alternatives to the gauge date price. Our procedures and important dates for each are described below. Contact Karen Suey at 217/535-0181 Ext. 8019 (cell #217/825-7526) or Charlene Malensky at 217/535-0181 Ext. 8013 to sign up for either of these two programs. Participation Agreement forms can be downloaded from this website.
The price paid for crude oil purchased by Bi-Petro under this program will equal the average of the daily posting prices for the calendar month in which the oil is purchased (when the oil is gauged and approved). (DOWNLOAD Average Pricing Participation Agreement FORM)
The price paid for crude oil purchased by Bi-Petro under this program will be the posting price for the day the call is made to market the oil. A commitment as to the volume of oil and the lease from which it will be sold must be provided and the oil must be pipeline quality and available for pick up prior to the end of the month. (DOWNLOAD Call-In Participation Agreement FORM)
If you do not sign up for either the Call-in or the Average Pricing Program, the price paid will be our posted price for the day the oil is gauged and approved.