Initial Production Rate definition

Initial Production Rate means a Net Production Rate which shall be agreed by the Parties on or before the Effective Date measured in the Field and calculated as the average daily production rate over a period of thirty (30) consecutive days using a methodology and measuring equipment agreed by the Parties.
Sample 1
Initial Production Rate means a Net Production Rate calculated as the average daily production rate measured during the period commencing ninety (90) days prior to the Effective Date of nine hundred and fifty-six thousand, five hundred and fifty (956,550) Barrels of Crude Oil per day] [Notes: 1) The BP and CNPC bid was based on the Initial Production Rate of 956,550bpd and not the higher rate recently provided by PCLD of 1,030,000bpd. This higher rate is a fundamental change to the bid basis which has commercial implications and is not accepted by BP/CNPC and should be discussed further with PCLD
Sample 1
Initial Production Rate means the highest thirty consecutive day average daily production rate of barrels of oil equivalent per day for the forty-five day period after flowback has started.
Sample 1

Examples of Initial Production Rate in a sentence

  • The formula used for selecting the winning bidder, which was disclosed by the PCLD, is the following:Bid score = (PPT-IPR) * (50-RFB) The Initial Production Rate (IPR) is the baseline production capacity of the field before awarding the field to the company or consortium, which is defined by the MoO and shared with the participants.

  • Members employed by Queensland Port Authorities on dredges confined to harbour limits shall pay one-third of the Seagoing rate.

  • The Non-Xxxxx Loan Parties shall maintain an Average New Drill Initial Production Rate of at least 450 barrels of oil equivalent per day.

  • Initial Production Rate of Skorpil 11-2 #1H Well The Skorpil 11-2 #1H has also been fracture stimulated with 35 stages and had an early 24-hour flow back rate of 1,533 BOE/D on a 36/64" restricted choke during drillout of the plugs.

  • The Non-Xxxxx Loan Parties shall maintain an Average Reentry Initial Production Rate of at least 375 barrels of oil equivalent per day.

  • AreaWell SpudRig Release# of Laterals30-Day Initial Production Rate (bbl/d)Peavine100/04-34-078-16W5January 6January 192175Peavine102/04-34-078-16W5June 15June 212175Peavine100/13-27-078-16W5June 22July 68On Production July 10Peavine100/05-34-078-16W5July 8July 188On Production July 22 Peavine100/11-31-078-15W5July 208 Pembina Area Duvernay Light Oil Production in the Pembina Duvernay averaged 1,698 boe/d (80% oil and NGL) during Q2/2021, as compared to 2,138 boe/d in Q1/2021.

  • Table 2 TEXADON CAPEX Gas Initial Production Rate Million Cubic Feet/DayWellActivity CostLowMidHigh Bahr #1Replace Tubing, Cleanout$0.333m0.10.30.6Bahr #3Deepen and Complete$3.000m2.55.510.0Bahr #4Replace Tubing, Cleanout$0.268m0.10.30.6Bahr #7Fracture Stimulate $0.508m1.02.43.0Bahr #9Fracture Stimulate $0.508m1.02.43.0If the Company raises the Minimum Proceeds from the Placing, then the planned low risk Workover Program will be deferred until cash is made available from the other producing wells.

  • The Contract shall enter into force upon (i) it being signed by the Parties; (ii) SOC notifying and representing to Contractor in writing that ratification has occurred and the Contract is enforceable in accordance with the Law; and, (iii) the Initial Production Rate being agreed on by the Parties.

  • In addition to any monthly payments provided for in paragraph (i) above, if the Initial Production Rate for any of the LSP Wells meets or exceeds the Initial Production Threshold, then Borrower shall make a supplemental payment equal to the lesser of: (a) the remaining unpaid principal and interest due hereunder or (b) the sum of $800,000 (to be applied to the reduction of principal) plus an amount equal to all accrued but unpaid interest hereunder.

  • AreaWell SpudRig Release# of Laterals30-Day Initial Production Rate (bbl/d) (1)Current Production Rate (bbl/d)Peavine100/04-34-078-16W5January 7January 152175100Peavine102/04-34-078-16W5June 15June 212175170Peavine100/13-27-078-16W5June 22July 68695700Peavine100/05-34-078-16W5July 8July 188412300Peavine102/11-31-078-15W5July 20August 48930645 (1) 30-Day Initial Production Rate (bbl/d) is defined as the average oil rate over the first 720 hours of production following drilling fluid recovery.


More Definitions of Initial Production Rate

Initial Production Rate means the average gross daily rate of natural gas production from the applicable Well expressed in cubic feet during the first five (5) 24-hour days of production beginning with the Initial Production Date. For purposes of all of the definitions in this Note, any oil or condensate produced from the Well will be deemed natural gas production and converted to natural gas at the ratio of 1 barrel of oil or condensate to 6 thousand cubic feet of gas.
Sample 1
Initial Production Rate means a Net Production Rate of ( ) Barrels of Crude Oil per day.
Sample 1

Related to Initial Production Rate

  • Commercial Production means the operation of the Property or any portion thereof as a producing mine and the production of mineral products therefrom (excluding bulk sampling, pilot plant or test operations);

  • Commencement of Commercial Production means the first occurrence of Commercial Production in an Area.

  • Dyed diesel fuel means diesel fuel that meets the dyeing and marking requirements of 26 U.S.C.

  • Infiltration rate means the rate of water entry into the soil expressed as a depth of water per unit of time (e.g., inches per hour).

  • Contract Year means each period of twelve (12) consecutive months during the Initial Term of this Agreement, with the first Contract Year commencing on the Effective Date, and with each subsequent Contract Year commencing on the anniversary of the Effective Date.

  • Commercial Product means any such product as defined in FAR 2.101.

  • SOFR IndexStart means the SOFR Index value on the day which is two U.S. Government Securities Business Days preceding the first date of the relevant Interest Period (an "Index Determination Date"); and

  • Reference biological product means the single biological product licensed pursuant to 42 U.S.C.

  • Production Period is the period that for winter cereal advances commences October 1, 2021 and terminates September 30, 2023; for advances on all other field crops, honey, hogs, goats, sheep and lambs commences April 1, 2022 and terminates September 30, 2023; and for advances on cattle, continuous flow cattle, and bison commences on April 1, 2022 and terminates on March 31, 2024.

  • Completion Rate means the percentage of an apprenticeship cohort who receives a certificate of apprenticeship completion within 1 year of the projected completion date. An apprenticeship cohort is the group of individual apprentices registered to a specific program during a 1 year time frame, except that a cohort does not include the apprentices whose apprenticeship agreement has been cancelled during the probationary period or who have transferred.

  • Additional Product means any Product identified as such in the Product Terms and chosen by Enrolled Affiliate under this Enrollment.

  • Refined Products means gasoline, diesel fuel, jet fuel, asphalt and asphalt products, and other refined products of crude oil.

  • SOFR Compounded Index means the Compounded Daily SOFR rate as published at 15:00 (New York time) by Federal Reserve Bank of New York (or a successor administrator of SOFR) on the website of the Federal Reserve Bank of New York, or any successor source; and

  • Semi-annual (2/Year) sampling frequency means the sampling shall be done during the months of June and December, unless specifically identified otherwise.

  • Ultra Low Sulfur Diesel Fuel means diesel fuel that has a sulfur content of no more than fifteen parts per

  • Supply Period means for a Supply Point, the period beginning on the Start Date and ending on the Termination Date;

  • Initial Index Price means the sum of the per share closing sales price of the common stock of each company comprising the Index Group multiplied by the applicable weighting, as such prices are reported on the consolidated transaction reporting system for the market or exchange on which such common stock is principally traded on the trading day immediately preceding the public announcement of this Agreement.

  • Net Sales Price means the gross billing price of any PRODUCT received by Licensee or its SUBLICENSEE for the sale or distribution of any PRODUCT, less the following amounts actually paid by Licensee or SUBLICENSEE:

  • HICP Daily Inflation Reference Index means (i) in relation to the first day of any given calendar month, the HICP Monthly Reference Index of the third calendar month preceding such month, and (ii) in relation to a day D (other than the first day) in any given month ("M"), the linear interpolation of the HICP Monthly Reference Index pertaining respectively to the third calendar month preceding such month ("M – 3") and the second calendar month preceding such month ("M – 2") calculated in accordance with the following formula:

  • Yearly (1/Year) sampling frequency means the sampling shall be done in the month of September, unless specifically identified otherwise in the effluent limitations and monitoring requirements table.

  • Semi-annual (2/Year) sampling frequency means the sampling shall be done during the months of June and December, unless specifically identified otherwise.

  • CPI Daily Inflation Reference Index means (A) in relation to the first day of any given month, the CPI Monthly Reference Index of the third month preceding such month, and (B) in relation to a day (D) (other than the first day) in any given month (M), the linear interpolation of the CPI Monthly Reference Index pertaining respectively to the third month preceding such month (M - 3) and the second month preceding such month (M - 2) calculated in accordance with the following formula:

  • Net metering period means the 12-month period following the date of final interconnection of the

  • Additional Products means products, services and applications that are not part of the Services but that may be accessible, via the Admin Console or otherwise, for use with the Services.

  • Manufacturing Cost means ***

  • Development Well means a well drilled inside the established limits of an oil or gas reservoir, or in close proximity to the edge of the reservoir, to the depth of a stratigraphic horizon known to be productive.