Lease condensate (commonly called condensate or condy and sometimes called natural gasoline) is an oil-like hydrocarbon that is separated from natural gas at the well or lease facility. It is found in a vapor or gaseous state at reservoir temperature and pressure but is a liquid at surface temperature and pressure. Although it is a natural gas liquid (NGL) it is handled separately from other NGLs (such as ethane, butane, and propane) and is part of the crude oil stream rather than the NGL stream processed at the gas processing plant.
After it is separated at the well or lease facility, condensate is then transported to crude refineries and processed along with crude oils or is used as a feedstock in the production of petrochemicals and plastics. Lease condensate comprises mostly pentanes, hexanes, and other heavier hydrocarbons such as C7.