Equity Gas definition

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Equity Gas. The term “Equity Gas” shall mean Gas produced from leaseholds owned and/or operated by XTO and/or Gas delivered to ETF by means of a XTO, or XTO affiliated, gathering facility at each Point of Receipt, whereby at least 80% of the Gas transported by ETF from such gathering facility is Gas produced from leaseholds owned and/or operated by XTO.

Examples of Equity Gas in a sentence

Any such capacity requested, may not be relinquished for any succeeding Month, unless such requested capacity was not utilized by XTO, due to an event of deficient supplies of Equity Gas.
Processor and Producer agree to enter into such transportation and Gas Processing contracts contemporaneously, to the extent reasonably practicable and provided that a Producer shall not be obligated to delay entry into any transportation contract when such Producer reasonably believes such delay will result in curtailment of Equity Gas.
In the case of the failure of any measurement meter of a Plant with multiple Gas suppliers, the residue stream attributable to Equity Gas production shall be determined and allotted to Producers according to the provisions of either the applicable agreement controlling the construction and operation of the Plant involved or according to related agreements executed between the owners of the Plant and the owners of any Upstream Pipeline.
Producers agree not to unreasonably or arbitrarily withhold production of Equity Gas solely to prejudice the rights granted to Processor hereunder.
Producer shall advise Processor as soon as reasonably practicable of any changes to the Annual Information that could materially impact Processor's plans to Process the projected Equity Gas Volumes.
Subject to the provisions of this Agreement, throughout the term of this Agreement and for any subsequent period of time as contemplated by Section 2.3.1, Processor agrees to Process, or cause to be Processed, all Equity Gas.
Processor shall be responsible for the metering and analysis of all liquefiable hydrocarbons extracted from Equity Gas, calibration of such meters and any disputes with respect to such metering.
Processor hereby indemnifies and holds Producers harmless against any and all claims, demands, and causes of action of any kind and all losses, damages, costs, and expenses (including court costs and reasonable attorneys' fees) arising from injuries to persons or property attributable to the Equity Gas or Processor's Retrograde, after delivery thereof has been made to Processor at a Plant Delivery Point.
In conveying the Gas Processing Rights under this Agreement, Producers acknowledge and agree that the Equity Gas Processed in a Plant will be subject to a PTR incidental to the exercising of the Gas Processing Rights, and Producers hereby grant to Processor the rights to consume Equity Gas as PTR associated with Processor's Retrograde and Products.
Each Producer shall notify Processor as soon as reasonably practicable of any ongoing or planned negotiation for the transportation of Equity Gas in an Upstream Pipeline, in order to facilitate Processor's entering into a Gas Processing Agreement for such Equity Gas.

More Definitions of Equity Gas

Equity Gas means Gas that is produced from a Dedicated Lease and is owned and

Equity Gas means Gas that is produced from a Dedicated Lease and is owned and marketed by, or on behalf of, Producers. Equity Gas shall also include any lessor's royalty Gas that is not taken "in-kind" by lessor and which is marketed by, or on behalf of, Producers. Equity Gas shall exclude the following: (i) Gas consumed by a Producer in the development and operation of Dedicated Leases, including, but not limited to, the following operations: drilling; deepening; reworking of ▇▇▇▇▇; compression; Gas lift; treating; separation; operationally integrated power generation; maintenance of facilities; and consumed as fuel in such operations. (ii) Gas provided by a Producer to another operator or producer in the general vicinity of such Producer's operations to be used by such operators or producers for purposes similar to those set forth in (i) above; provided, however, if Gas furnished by Producer is used for such purposes, Producer shall keep Processor whole from an economic standpoint for any volumes that are so used. (iii) Gas used by a Producer as makeup or non-consent Gas to or for the benefit of third parties as may be required under joint operating, Gas balancing or other similar agreements and produced from ▇▇▇▇▇ covered by such agreements or to settle Gas imbalance claims with other mineral and/or leasehold interest owners. (iv) Gas used by a Producer to make payment of royalty and/or overriding royalty in kind if required in the Dedicated Leases or instruments pursuant to which such royalties and overriding royalties were created, excluding any overriding royalties held by Affiliates of Producer. (v) Gas which is actually used by pipelines for fuel to transport lease production and/or is otherwise flared, lost or unaccounted for prior to delivery to a Plant. (vi) Gas which is precluded from being produced or Processed due to governmental intervention, regulations, laws or judicial or administrative orders.

Equity Gas means Gas that is produced from a Dedicated Lease and is owned and marketed by, or on behalf of, Producers. Equity Gas shall also include any lessor's royalty Gas produced from a Dedicated Lease that is not taken "in-kind" by lessor and which is marketed by, or on behalf of, Producers. Equity Gas shall also include Gas produced from units which include Dedicated Leases or portions thereof, but only to the extent that unit Gas production is allocated to a Producer under the applicable unit agreement or order creating the unit, and which allocated share of unit Gas production is marketed by, or on behalf of, Producers. Equity Gas shall exclude the following: (i) Gas consumed by a Producer in the development and operation of Dedicated Leases, including, but not limited to, the following operations: drilling; deepening; reworking of ▇▇▇▇▇; compression; Gas lift; treating; separation; operationally integrated power generation; maintenance of facilities; and consumed as fuel in such operations. (ii) Gas provided by a Producer to another operator or producer in the general vicinity of such Producer's operations to be used by such operators or producers for purposes similar to those set forth in (i) above; provided, however, if Gas furnished by Producer is used for such purposes, Producer shall keep Processor whole from an economic standpoint for any volumes that are so used. (iii) Gas used by a Producer as makeup or non-consent Gas to or for the benefit of Third Parties as may be required under joint operating, Gas balancing or other similar agreements and produced from ▇▇▇▇▇ covered by such agreements, or to settle Gas imbalance claims with other mineral and/or leasehold interest owners. (iv) Gas used by a Producer to make payment of royalty and/or overriding royalty in kind if required in the Dedicated Leases or instruments pursuant to which such royalties and overriding royalties were created, excluding any overriding royalties held by Affiliates of Producer. (v) Gas attributable to overriding royalty interests owned by a Producer in Dedicated Leases, where such Producer is receiving net proceeds in payment of its overriding royalty interest in lieu of taking Gas in kind. (vi) Gas produced from units which include Dedicated Leases or portions thereof, but only to the extent that unit Gas production is allocated to Third Parties under the applicable unit agreement or order creating the unit. (vii) Gas which is actually used by pipelines for fuel to transport le...