Cost Recovery Crude Oil definition

Cost Recovery Crude Oil is defined as set forth in Article 11.5.
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Cost Recovery Crude Oil has the meaning given in Section 5.9; "Cost Recovery Natural Gas" has the meaning given in Section 5.9;
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Examples of Cost Recovery Crude Oil in a sentence

  • To the extent that in a Calendar Year the recoverable costs or expenses related to the Contract Area exceed the amount allowable for Cost Recovery Crude Oil or Cost Recovery Natural Gas from the Contract Area, for such Calendar Year, then the excess shall be carried forward for recovery in the next succeeding Calendar Years until fully recovered, but in no case after termination of this Contract.

  • Roads are closed, doors are locked, and campuses are off-limits to anyone other than authorized personnel.

  • To the extent that the amount of Cost Recovery Crude Oil or Cost Recovery Natural Gas received by Contractor from the Contract Area during a Calendar Monthis greater or less than the amount Contractor was entitled to receive for that Month, an appropriate adjustment shall be made in accordance with internationally accepted accounting principles.

  • To the extent that the amount of Cost Recovery Crude Oil or Cost Recovery Natural Gas received by Contractor from the Contract Area during a Calendar Month is greater or less than the amount Contractor was entitled toreceive for that Month, an appropriate adjustment shall be made in accordance with internationally accepted accounting principles.

  • Subject to the Accounting Procedure and the auditing provisions of the Contract, Contractor shall recover costs and expenses duly verified in accordance with Article 17 of the Contract in respect of the Petroleum Operations hereunder to the extent of and out of 50% of all Available Crude Oil and/or all Available Natural Gas from the Contract Area, (hereinafter referred to as "Cost Recovery Crude Oil" and/or "Cost Recovery Natural Gas" and collectively as ―Cost Recovery Petroleum‖).

  • If however such an independent third party sale cannot be demonstrated, or at the discretion of the Contractor, then the Parties agree that the value of the Cost Recovery Crude Oil, if sold on International Markets, shall be adjusted to the international market price for Crude Oil from time to time.

  • Such equivalent Barrels shall be calculated on the basis of the provisions of Article VI(c) relating to the valuation of Cost Recovery Crude Oil.

  • The percentage referring to cost recovery, also referred to as Cost Recovery Crude Oil, is deducted from the total of the charges, resulting in the "Profit Oil“ on which a rate of 35% is applied (2020: 35%) in compliance with Law no.

  • It is the intent of the Parties that the value of the Cost Recovery Crude Oil shall reflect the prevailing Market Price for such Crude Oil.

  • Quantities of Crude Oil and/or Natural Gas allocated to Contractor and the Minister, respectively, during the Calendar Month as Cost Recovery Crude Oil, Cost Recovery Natural Gas, Profit Crude Oil and/or Profit Natural Gas.

Related to Cost Recovery Crude Oil

  • Cost recovery means collection, upon approval by the commission pursuant to its authority under section4909.15 of the Revised Code, of such documented EDU interconnection costs that are incurred at reasonable levels for prudent purposes and that are over and above the review processing fees set forth in rules 4901:1-22-06 to 4901:1-22-08 of the Administrative Code.

  • Vapor recovery system means a vapor gathering system capable of collecting all hydrocarbon vapors and gases discharged from the storage vessel and a vapor disposal system capable of processing such hydrocarbon vapors and gases so as to prevent their emission to the atmosphere.

  • Resource recovery facility means a solid waste facility

  • Disaster recovery project means a project located on property

  • Crude Oil means any liquid hydrocarbon mixture occurring naturally in the earth whether or not treated to render it suitable for transportation and includes:

  • Net energy billing means a billing and metering practice under which a customer-generator is billed on the basis of net energy over the billing period.

  • Proven Mineral Reserve means that economically mineable part of a measured mineral resource demonstrated by at least a preliminary feasibility study. This study must include adequate information on mining, processing, metallurgical, economic and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified;

  • Projected Recovery Amount The fair value of the estimated amount of subsequent recoveries, determined by Freddie Mac on the Termination Date, at its sole discretion, on the Credit Event Reference Obligations.

  • Materials recovery facility means a solid waste management facility that provides for the extraction from solid waste of recyclable materials, materials suitable for use as a fuel or soil amendment, or any combination of such materials.

  • Proved Developed Producing Reserves means Proved Reserves that are categorized as “Developed Producing Reserves” in the PRMS, “Proved Developed Nonproducing Reserves” means Proved Reserves that are categorized as “Developed Nonproducing Reserves” in the PRMS, and “Proved Undeveloped Reserves” means Proved Reserves that are categorized as “Undeveloped Reserves” in the PRMS.

  • Meet-Point Billing (MPB) refers to the billing associated with interconnection of facilities between two or more LECs for the routing of traffic to and from an IXC with which one of the LECs does not have a direct connection. In a multi-xxxx environment, each Party bills the appropriate tariffed rate for its portion of a jointly provided Switched Exchange Access Service.

  • Final Shared-Loss Recovery Month means the calendar month in which the tenth anniversary of the Commencement Date occurs.

  • Product Backlog means a list of those Stories that do not form part of the current Sprint Plan at that time and which are to form the subject of a future Sprint, either in the current Release at that time or a subsequent Release;

  • MONTHLY KILOMETREAGE STATEMENT CUM BILL means the format specified by the Company.

  • At-home recovery visit means the period of a visit required to provide at home recovery care, without limit on the duration of the visit, except each consecutive four (4) hours in a twenty-four-hour period of services provided by a care provider is one visit.

  • Proved Developed Non-Producing Reserves means oil and gas reserves that, in accordance with Petroleum Industry Standards, are classified as both “Proved Reserves” and “Developed Non-Producing Reserves.”

  • Postpartum recovery means (a) the entire period a woman or

  • Disaster Recovery System means the system identified by the Supplier in the Supplier Solution which shall be used for the purpose of delivering the Disaster Recovery Services;

  • Imbalance means the difference between Deliveries to KUB for a Customer and Redeliveries by KUB to the Customer.

  • Probable Mineral Reserve means the economically mineable part of an indicated and, in some circumstances, a measured mineral resource demonstrated by at least a preliminary feasibility study. This study must include adequate information on mining, processing, metallurgical, economic and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified;

  • Bi-fuel vehicle means a vehicle with two separate fuel storage systems that can run part-time on two different fuels and is designed to run on only one fuel at a time;

  • fuel supplier means an entity supplying fuel to the market that is responsible for passing fuel through an excise duty point or, in the case of electricity or where no excise is due or where duly justified, any other relevant entity designated by a Member State;

  • S&P Recovery Rate With respect to a Collateral Obligation, the recovery rate set forth in Section 1 of Schedule 4 using the Initial Rating of the most senior Class of Secured Notes Outstanding at the time of determination.

  • Contract for Differences (“CFD”) shall mean a contract, which is a contract for differences by reference to variations in the price of an Underlying Asset.

  • 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.

  • Balance billing means charging or collecting an amount in excess of the Medicaid, Medicare, or contracted reimbursement rate for services covered under a Medicaid, Medicare or employer sponsored beneficiary’s plan. “Balance Billing” does not include charging or collecting deductibles or copayments and coinsurance required by the beneficiary’s plan.