Base production definition
Base production means the average monthly amount of
Base production means the average monthly amount of production for the twelve-month period immediately prior to either the filing of the application of the production enhancement project or the commencement of the project, whichever is earlier. If the well or wells covered in the application had production for less than the full twelve-month period prior to the filing of the application for the production enhancement project, then the base production shall be the average monthly production for the months during that period that the well or wells produced,
Base production means the average monthly amount of production for the twelve-month period immediately prior to the production enhancement project beginning date, minus the monthly rate of production decline for the well or project for each month beginning 180 days prior to the project beginning date. The monthly rate of production decline shall be equal to the average extrapolated monthly decline rate for the well or project for the twelve-month period immediately prior to the production enhancement project beginning date, except that the monthly rate of production decline shall be equal to zero in the case where the well or project has experienced no monthly decline during the twelve-month period immediately prior to the production enhancement project beginning date. Such monthly rate of production decline shall be continued as the decline that would have occurred except for the enhancement project. Any well or project which may have produced during the twelve-month period immediately prior to the production enhancement project beginning date but is not capable of production on the project beginning date shall have a base production equal to zero. The calculation of the base production amount shall be evidenced by an affidavit and supporting documentation filed by the applying taxpayer with the state corporation commission.
More Definitions of Base production
Base production means the average monthly amount of production for the twelve-month period immediately prior to the effective date of this act,
Base production means the average monthly amount of production for the twelve-month period immediately prior to the commencement of the project or the average monthly amount of production for the twelve-
Base production. ’ means the average monthly amount of production for the twelve- month period immediately prior to the production enhancement project beginning date, minus the monthly rate of production decline for the well or project for each month
Base production means the average monthly amount of production for the twelve-month period immediately prior to either the filing of the application of the production enhancement project or the commencement of
Base production means (1) the amount of oil which could have been produced economically and efficiently from the unit by production methods being utilized prior to the tertiary recovery project being certified by the Office of the Navajo Tax Commission; or (2) the amount of oil which could have been produced economically and efficiently from the unit by production methods being utilized prior to the expanded tertiary recovery project being certified by the Office of the Navajo Tax Commission.
Base production. ’ means the average monthly amount of pro- duction for the twelve-month period immediately prior to the production enhancement project beginning date, minus the monthly rate of produc-