gross reserves definition
gross reserves. ’ means a working-interest (operating or non-operating) share of oil and gas reserves before deduction of royalty obligations and of reserves to be allocated to government authorities under a production-sharing contract or other oil and gas permit and without including any royalty interests of the Corporation.
gross reserves means the gross reserves of the Ceding Company in respect of the Reinsured Policies, as determined in accordance with Section 9.01.
gross reserves means the total remaining recoverable reserves associated with the acreage of interest.
More Definitions of gross reserves
gross reserves means Corridor's working interest reserves before the deduction of royalties and before including any royalty interests;
gross reserves means the total of GGR's working interest in the estimated field reserves before the deduction of the Government's share of production under the applicable production sharing agreement and before the deduction of all applicable royalties.
gross reserves means the total of Peyto's working interest share of recoverable reserves under current technology and existing economic conditions before deduction of royalties payable to others in the table based on constant prices. The table based on escalated prices utilizes anticipated economic and operating conditions as set out in Note (2).
gross reserves means the gross reserves of the Ceding Company in respect of the Reinsured Policies, as determined in accordance with Section 10.01.
gross reserves means, collectively, the Operating Subsidiaries' interest, or the interest to be acquired by the Operating Subsidiaries, in reserves before the deduction of royalties.