Proved Undeveloped Reserves. those Oil and Gas Properties designated as proved undeveloped (in accordance with the Definitions for Oil and Gas Reserves approved by the Board of Directors of the Society of Petroleum Engineers, Inc. from time to time) in the Reserve Report most recently delivered to Agent pursuant to this Agreement.
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Samples: Credit Agreement (Parsley Energy, Inc.), Credit Agreement (Parsley Energy, Inc.), Credit Agreement (Trans Energy Inc)
Proved Undeveloped Reserves. those Oil and Gas Properties designated as proved undeveloped (in accordance with the Definitions for Oil SEC rules and Gas Reserves approved by the Board of Directors of the Society of Petroleum Engineers, Inc. from time to timeregulations) in the Reserve Report most recently delivered to Agent pursuant to this Agreement.
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