E&P Properties definition
Examples of E&P Properties in a sentence
TXU Energy Retail Company LLC TXU Retail Services Company Upton County Solar 2, LLC Value Based Brands LLC Vistra Asset Company LLC Vistra Corporate Services Company Vistra EP Properties Company Vistra Finance Corp.
This reduction or refund, as the case may be, shall be Buyer's sole remedy for the exercise of any preferential right affecting the E&P Properties.
Oklahoma E&P Properties Southwestern Energy Production Company's working interest in approximately 135 oil and gas producing properties located primarily in the Anadarko Basin in western Oklahoma.
With respect to the E&P Properties, the Purchase Price shall be allocated to the Assets as set forth in Schedule 2.2(b) (the "Allocated Values"), which allocation shall be binding on Sellers and Buyer and shall be used for the purposes of adjusting the Purchase Price pursuant to Sections 3.6, 3.7, 3.9 and 12.4 and is not intended as a means of valuation for any other purpose.
To Sellers' Knowledge, Sellers are in material compliance with all laws applicable to the ownership, operation, maintenance or repair of the E&P Properties, and have not entered into and the Assets are not subject to any agreements, consent orders, administrative orders or similar obligations based on a violation or alleged violation of laws.
Except as set forth in Schedule 4.15, since the Effective Time, there have been no operations associated with the E&P Properties under an operating agreement, unit agreement or governmental order with respect to which either Seller has become a non-consenting party.
To the extent Sellers receive written AFEs or actual notice of such, Sellers shall notify Buyer within twenty-four (24) hours of receipt of such notice of ongoing activities and major capital expenditures in excess of $75,000 per activity net to Sellers' interest conducted on the producing E&P Properties and shall not approve or participate in any such activities without written consent from Buyer.
Except as set forth in Schedule 4.14, the E&P Properties (and the production therefrom) are not subject to any oil or gas purchase agreement, sale agreement or similar marketing arrangement not cancelable on thirty (30) days notice, nor are any of the E&P Properties subject to any agreements with any affiliates that cannot be terminated immediately upon Closing without penalty, cost or liability to Buyer.
Upon execution of this Agreement and subject to the Indemnification Agreement, Buyer shall be provided access during regular business hours to the Seller-operated E&P Properties, and Sellers shall use reasonable efforts to obtain permission for Buyer to gain access to the third party-operated E&P Properties, for the purpose of inspecting the environmental and physical condition of the same.