Independent Petroleum Engineer definition

Independent Petroleum Engineer means a Person with no material relationship to the General Partner or its Affiliates who is in the business of rendering fair market value opinions regarding the value of oil and gas properties based upon the evaluation of all pertinent economic, financial, geologic and engineering information available to the General Partner.

Independent Petroleum Engineer means (a) XxXxxxxx & Associates Consultants Ltd. or (b) such other firm of independent petroleum engineers expert in the matters required to be performed in connection with the preparation and delivery of a Reserve Evaluation Report and satisfactory to the Majority Lenders.

Independent Petroleum Engineer means Rydex Xxxxx & Xssociates or any firm of independent petroleum engineers selected by the Borrower and acceptable to the Administrative Agent.

Examples of Independent Petroleum Engineer in a sentence

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• If no agreement can be reached on the selection of an Independent Petroleum Engineer, the departing General Partner and incoming General Partner shall each select an Independent Petroleum Engineer, who together shall select a third Independent Petroleum Engineer, and the three Independent Petroleum Engineers shall together determine a value of the interests of the departing General Partner.

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• The information furnished by the Company to the Independent Petroleum Engineer for purposes of preparing its reports, including, without limitation, production, costs of operation and development, current prices for production, agreements relating to current and future operations and sales of production, was true, correct and complete in all material respects on the date supplied and was prepared in accordance with customary industry practices.

• General Partner In the event the General Partner withdraws or is removed and a successor General Partner is selected, the incoming General Partner and the departing General Partner shall, by mutual agreement, select an Independent Petroleum Engineer to value the departing General Partner's interest in the Partnership.

More Definitions of Independent Petroleum Engineer

Independent Petroleum Engineer means Netherland, Xxxxxx and Associates, Inc., or another reputable independent petroleum engineer retained by the Company pursuant to this Agreement.

Independent Petroleum Engineer means any qualified Person carrying on the business of estimating the value of Hydrocarbon Properties, who is appointed by the Borrower and who is satisfactory to the Agent, acting reasonably, and who is in fact independent, provided that such Person may be regularly retained by the Borrower, it being agreed that XxXxxxxx & Associates Consultants Ltd. constitutes an Independent Petroleum Engineer in relation to the Borrowing Base Properties situate in Canada and that Xxxx Petroleum Engineering Services, Inc. constitutes an Independent Petroleum Engineer in relation to the Borrowing Base Properties situate in the United States of America.

Independent Petroleum Engineer means (a) Netherland, Sxxxxx & Associates, Inc., (b) Rxxxx Xxxxx Petroleum Consultants, L.P., (c) DxXxxxxx and MxxXxxxxxxx, (d) Cxxxxx, Gxxxxxxxx & Associates, Inc., (e) Wxxxxx & Company, (f) W.X. Xxx Xxxxxx & Co., and (e) any other independent petroleum engineer reasonably acceptable to the Majority Noteholders and each Hedge Counterparty.

Independent Petroleum Engineer means (a) GLJ Petroleum Consultants or (b) such other firm of independent petroleum engineers expert in the matters required to be performed in connection with the preparation and delivery of a Reserve Evaluation Report and proposed by the Borrower from time to time and reasonably satisfactory to the Administrative Agent and the Majority Banks.

Independent Petroleum Engineer means Ryder Scott Company Petroleum Engineers or another independent petroxxxx xxxxxxer retained by the Company acceptable to the Required Banks.

Independent Petroleum Engineer means (A) Ryder Scott Company or (B) such other firm of independent petroleum engineers expert in the matters required to be performed in connection with the preparation and delivery of a Reserve Report and otherwise satisfactory to the Required Holders.

Independent Petroleum Engineer shall have the meaning assigned to it in the Existing Credit Agreement on the date hereof.