Gross Working Interest definition

Gross Working Interest means that interest, expressed as a decimal, percentage, or fractional interest, relative to 100% on which Participant shall pay (his/her/its) share of operating expenses.
Gross Working Interest and “W.I.” or “G.W.I.” means an interest owned in an oil, gas and mineral lease that determines the cost bearing percentage of the owner of such interest.
Gross Working Interest. N/A until payout Net Revenue Interest: N/A until payout After Payout: Prospect Well 1 (see Section II. 1.) Gross Working Interest: 25.0% Net Revenue Interest: 18.125% Prospect Well 2 and 3 (see Section II. 2.) Before Payout

Examples of Gross Working Interest in a sentence

  • For further information please refer to the company website, http://seplatpetroleum.com/ Production for the first six months ended 30 June 2016 Gross Working Interest (1) Liquid production volumes as measured at the LACT unit for OMLs 4, 38 and 41 and OPL 283 flow station.

  • WHO MUST REPORT: Each operator of a producing state oil and gas lease shall submit an OGR-PD-1 Form indicating the Gross Working Interest Owners and responsible remitter or remitters (if available) of royalties due on production from the lease, unless the operator is the sole remitter - no report required.

  • Through McMaster PLUS, Norwegians can subscribe to updates or search the current best evidence research, with citations from over 120 premier clinical journals and selected evidence-based resources.

  • The volumes reported in the table above (Low (P90), Best (P50), Mean, High (P10)) are Gross Prospective Resources volumes at Canacol’s Gross Working Interest of 100% in the blocks Esperanza, VIM5, VIM19, VIM21, and VIM 33 and Canacol’s Gross Working Interest of 50% in the block SSJN7, and Canacol’s Gross Working Interest of 100% in the blocks VMM45 and VMM49.

  • The volumes reported in the table above (Low (P90), Best (P50), Mean, High (P10)) are Gross Prospective Resources volumes at Canacol’s Gross Working Interest of 100% in the blocks Esperanza, VIM5, VIM19, VIM21, VIM33 and VIM44 and Canacol’s Gross Working Interest of 50% in the block SSJN7, and Canacol’s Gross Working Interest of 100% in the blocks VMM45, VMM47 and VMM49.

  • For further information please refer to the company website, http://seplatpetroleum.com/ Production for the first six months ended 30 June 2015 Gross Working Interest (1) Liquid production volumes as measured at the LACT unit for OMLs 4, 38 and 41 and OPL 283 flow station.

  • The key drivers of the upwards revision is the recognition of reserves at Orogho, Sapele Shallow and Okwefe following review of 2014 well performance data and the conversion from 2C to 2P as a result of 2014 development activities.Full year average daily production Gross Working Interest Note: Liquid production volumes as measured at the LACT unit for OMLs 4, 38 and 41 and OPL 283 flow station.

  • GROSS WORKING INTEREST OWNER NAME: The name of the Gross Working Interest Owner or responsible royalty remitter (if known) for the lease being reported.

  • Exhibit A — General Terms and Conditions Page 11DYNEGY CONTRACT NO.: 014904 — Ref No. 095 EXHIBIT B – DEDICATED ACREAGE AND/OR DEDICATED WELLStoGAS PURCHASE AGREEMENT DEDICATED ACREAGE – Part I Counties Denton and Wise CountiesState TexasExisting Wells: See "Current Dedicated Wells" listed below Supplier’s Gross Working Interest Varies.

  • Gross Working Interest Proved ReservesAs of September 30, 2017Gross Working Interest Proved Plus Probable Reserves Gross Working Interest Proved Plus Probable Plus Possible Reserves Indonesia: Producing Properties Rimau .


More Definitions of Gross Working Interest

Gross Working Interest. N/A until payout Net Revenue Interest: N/A until payout After Payout: Prospect Well 1 (see Section II. 1.) Gross Working Interest: 25.0% Net Revenue Interest: 18.75% Prospect Well 2 and 3 (see Section II. 2.) Before Payout Gross Working Interest: 37.5% Net Revenue Interest: 28.125.125% After Payout: Prospect Well 2 and 3 (see Section II. 1.) Gross Working Interest: 37.5% Net Revenue Interest: 28.125% Participant 2 /s/ By: Title: Director Names: Shale Corp. Address: 000 Xxx Xx, Xxxxx 000, Xxxxxxx Xx, X0X 0X0 Phone Number: Fax Number:
Gross Working Interest and "W.I." or "G.W.I." means an interest owned in an oil, gas and mineral lease that determines the cost bearing percentage of the owner of such interest.
Gross Working Interest means in respect of oil reserves, the total oil reserves attributable to the Corporation’s interest prior to deductions under the production sharing contract and based on economically recoverable volumes within the development/exploitation period specified in the production sharing contract.
Gross Working Interest means, in respect of resources, the total resources attributable to the Corporation’s interest prior to the deductions per the applicable production sharing contract, risk exploration contract or fiscal regime for each license area.
Gross Working Interest. (herein sometimes referred to as "GWI") shall mean each Party's Working Interest percentage in a particular Tract as shown on Exhibit "B" to the Unit Agreement.
Gross Working Interest means, for each Lease or group of Leases, the interest identified as "Working Interest" on Exhibit A.

Related to Gross Working Interest

  • Working Interest means an interest in oil and/or gas in the unit area by virtue of a lease, operating agreement, fee title, or otherwise, including a carried interest, the owner of which is obligated to pay, either in cash or out of production or otherwise a portion of the unit expense.

  • Net Revenue Interest means, with respect to any Property, the interest in and to all Hydrocarbons produced, saved, and sold from or allocated to such Property after giving effect to all royalties, overriding royalties, production payments, carried interests, net profits interests, reversionary interests, and other burdens upon, measured by, or payable out or production therefrom.

  • Working interest owner means a person or the estate of a person who owns an interest in oil and/or gas in the unit area by virtue of a lease, operating agreement, fee title, or otherwise, including a carried interest, the owner of which is obligated to pay, either in cash or out of production or otherwise a portion of the unit expense. “Working interest owner” does not include an unleased mineral owner.

  • Consenting working interest owner means any working interest owner who enters into an agreement with SWN pertaining to the operation of the Posey B Unit.

  • Gross Operating Expenses shall include (i) all costs and expenses of operating the Hotel included within the meaning of the term “Total Costs and Expenses” contained in the Uniform System and, (ii) without duplication, the following: all salaries and employee expense and payroll taxes (including salaries, wages, bonuses and other compensation of all employees of the Hotel, and benefits including life, medical and disability insurance and retirement benefits), expenditures described in Section 9.1, operational supplies, utilities, insurance to be provided by Lessee under the terms of this Lease, governmental fees and assessments, common area maintenance costs and other common area fees and assessments, food, beverages, laundry service expense, the cost of Inventories, license fees, advertising, marketing, reservation systems and any and all other operating expenses as are reasonably necessary for the proper and efficient operation of the Hotel and the Leased Property incurred by Lessee in accordance with the provisions hereof (excluding, however, (i) federal, state and municipal excise, sales and use taxes collected directly from patrons and guests or as a part of the sales price of any goods, services or displays, such as gross receipts, admissions, cabaret or similar or equivalent taxes paid over to federal, state or municipal governments, (ii) the cost of insurance to be provided under Article 13, (iii) expenditures by Lessor pursuant to Article 13 and (iv) payments on any Mortgage or other mortgage or security instrument on the Hotel); all determined in accordance with generally accepted accounting principles. No part of Lessee’s central office overhead or general or administrative expense (as opposed to that of the Hotel), and no operating expenses paid or payable by tenants under Space Leases, shall be deemed to be a part of Gross Operating Expenses, as herein provided. Reasonable out-of-pocket expenses of Lessee incurred for the account of or in connection with the Hotel operations, including but not limited to postage, telephone charges and reasonable travel expenses of employees, officers and other representatives and consultants of Lessee and its Affiliates, shall be deemed to be a part of Gross Operating Expenses and such Persons shall be afforded reasonable accommodations, food, beverages, laundry, valet and other such services by and at the Hotel without charge to such Persons or Lessee.

  • Development Costs means costs incurred to obtain access to reserves and to provide facilities for extracting, treating, gathering and storing the oil and gas from reserves. More specifically, development costs, including applicable operating costs of support equipment and facilities and other costs of development activities, are costs incurred to:

  • Development Cost means the total of all costs incurred in the completion of a Development excluding Developer Fee, operating deficit reserves, and total land cost as typically shown in the Development Cost line item on the development cost pro forma.

  • Development Expenses means, with respect to SAIL Developments as well as HOME Developments when the HOME Development is also at least partially financed with a MMRB Loan (as defined in rule Chapter 67-21, F.A.C.), usual and customary operating and financial costs, such as the compliance monitoring fee, the financial monitoring fee, replacement reserves, the servicing fee and the debt service reserves. As it relates to SAIL Developments as well as HOME Developments when the HOME Development is also at least partially financed with a MMRB Loan (as defined in rule Chapter 67-21, F.A.C.) and to the application of Development Cash Flow described in subsections 67-48.010(5) and (6), F.A.C., as it relates to SAIL Developments or in paragraph 67-48.020(3)(b), F.A.C., as it relates to HOME Developments, the term includes only those expenses disclosed in the operating pro forma on an annual basis included in the final credit underwriting report, as approved by the Board, and maximum of 20 percent Developer Fee per year.

  • Assigned Annual Special Tax means the Special Tax of that name described in Section D.

  • Direct Cost means a cost not to exceed the cost of labor, material, travel and other expenditures to the extent the costs are directly incurred to provide the relevant assistance or service. “Direct Cost” to the Acquirer for its use of any of a Respondent’s employees’ labor shall not exceed the average hourly wage rate for such employee;

  • Total Contract Price/Project Cost/TCO means the price payable to Service Provider over the entire period of Contract for the full and proper performance of its contractual obligations.

  • Allowable Cost means a cost that complies with all legal requirements that apply to a particular federal education program, including statutes, regulations, guidance, applications, and approved grant awards.

  • Improvement Costs means any additional expenditure on a fixed asset that materially increases the capacity of the asset or materially improves its functioning or represents more than 10% of the initial depreciation base of the asset;

  • Allowable Costs means the costs defined as allowable in 42 CFR, Chapter IV, Part 413, as amended to October 1, 2007, except for the purposes of calculating direct medical education costs, where only the reported costs of the interns and residents are allowed. Further, costs are allowable only to the extent that they relate to patient care; are reasonable, ordinary, and necessary; and are not in excess of what a prudent and cost-conscious buyer would pay for the given service or item.

  • The Contract Price/ Project Cost means the price payable to the Vendor under the Contract for the full and proper performance of its contractual obligations.

  • Direct Costs means the sum of the following:

  • Total Development Cost means the total of all costs incurred in the completion of a Development, all of which shall be subject to the review and approval by the Credit Underwriter and the Corporation pursuant to this rule chapter, and as further described in Rule 67-48.0075, F.A.C.

  • Gross Operating Revenues means, for any period of time for any Hotel Property, without duplication, all income and proceeds of sales of every kind (whether in cash or on credit and computed on an accrual basis) received by the owner (or, if such Hotel Property is ground leased, the ground lessee) of such Hotel Property or the applicable Operating Lessee or Manager for the use, occupancy or enjoyment of such Hotel Property or the sale of any goods, services or other items sold on or provided from such Hotel Property in the ordinary course of operation of such Hotel Property, including, without limitation, all income received from tenants, transient guests, lessees, licensees and concessionaires and other services to guests at such Hotel Property, and the proceeds from business interruption insurance, but excluding the following: (i) any excise, sales or use taxes or similar governmental charges collected directly from patrons or guests, or as a part of the sales price of any goods, services or displays, such as gross receipts, admission, cabaret or similar or equivalent taxes; (ii) receipts from condemnation awards or sales in lieu of or under threat of condemnation; (iii) proceeds of insurance (other than business interruption insurance); (iv) other allowances and deductions as provided by the Uniform System in determining the sum contemplated by this definition, by whatever name, it may be called; (v) proceeds of sales, whether dispositions of capital assets, FF&E or equipment (other than sales of Inventory in the ordinary course of business); (vi) gross receipts received by tenants, lessees (other than Operating Lessees), licensees or concessionaires of the owner (or, if such Hotel Property is ground leased, the ground lessee) of such Hotel Property; (vii) consideration received at such Hotel Property for hotel accommodations, goods and services to be provided at other hotels although arranged by, for or on behalf of, and paid over to, the applicable Manager; (viii) tips, service charges and gratuities collected for the benefit of employees; (ix) proceeds of any financing; (x) working capital provided by the Parent Guarantor or any Subsidiary of the Parent Guarantor or the applicable Operating Lessee; (xi) amounts collected from guests or patrons of such Hotel Property on behalf of tenants of such Hotel Property and other third parties; (xii) the value of any goods or services in excess of actual amounts paid (in cash or services) provided by the applicable Manager on a complimentary or discounted basis; and (xiii) other income or proceeds resulting other than from the use or occupancy of such Hotel Property, or any part thereof, or other than from the sale of goods, services or other items sold on or provided from such Hotel Property in the ordinary course of business. Gross Operating Revenues shall be reduced by credits or refunds to guests at such Hotel Property.