Light Oil assets definition

Light Oil assets means the interests of Athabasca in approximately 194,000 net acres of land as at December 31, 2022, primarily located in northwestern Alberta, which includes the Kaybob assets, Placid assets and Light Oil Exploration Areas.
Sample 1
Light Oil assets means the interests of Athabasca in approximately 233,480 net acres of land as at December 31, 2016, primarily located in northwestern Alberta, which includes the Kaybob, Placid and Light Oil Exploration Areas.
Sample 1Sample 2
Light Oil assets means the interests of Athabasca in approximately 98,000 net acres of land as at December 31, 2023, primarily located in northwestern Alberta, which includes the Kaybob JDA assets, Kaybob 100% assets and Light Oil Exploration Areas.
Sample 1

Examples of Light Oil assets in a sentence

  • In 2016, Athabasca entered into a joint venture to advance development of its Light Oil assets.

  • The Light Oil Operating Income and the Operating Netback (per boe) measures allow management and others to evaluate the production results from the Company’s Light Oil assets.

  • For the year ended December 31, 2016, Athabasca de-recognized $253.1 million of E&E relating to the Royalty sold to Burgess and$0.6 million of E&E relating to the Light Oil assets sold to Murphy (Note 7).

  • The "Light Oil Entities" are corporations and partnerships that hold the Company’s Light Oil assets and that are directly or indirectly wholly-owned by the Company: AOC Light Oil Corp., AOC Kaybob Corp., AOC Simonette Corp., AOC Light Oil Partnership, AOC Kaybob Partnership and AOC Simonette Partnership.

  • During the year ended December 31, 2016, Athabasca de-recognized $460.9 million of PP&E primarily relating to the Light Oil assets sold to Murphy (Note 7).

  • The risk factors used for identifying HMOs are as follows: • No current CTRS (Council Tax Reduction Scheme) recipient at address: A property not receiving CTRS is estimated to be 3.1 (1.1 to 9.1, p=95%) times more likely to be HMO status than a property receiving CTRS.

  • During the year ended December 31, 2016, Athabasca de-recognized $460.9 million of PP&E primarily relating to the Light Oil assets sold to Murphy (Note 10).

  • For the year ended December 31, 2015, Athabasca recognized an impairment loss of $456.7 million as the fair value of the Light Oil assets imputed from the Murphy Transaction was below the carrying value of the assets.

  • The net increases in production were primarily due to the ramp up of production at Hangingstone Project 1 in the Thermal Oil Division, partially offset by lower production due to the sale of Light Oil assets to Murphy in the second quarter of 2016.• On June 17, 2016, Athabasca repaid its US$225.0 million senior secured term loan (the "Term Loan") at par for C$285.4 million.

  • During the six months ended June 30, 2016, Athabasca de-recognized $104.5 million of E&E relating to the Contingent Bitumen Royalty sold to Burgess and $0.6 million of E&E relating to the Light Oil assets sold to Murphy (Note 6).


More Definitions of Light Oil assets

Light Oil assets means the interests of Athabasca in over 2.7 million net acres of land as at December 31, 2013, primarily in northwestern Alberta, which includes the Kaybob Area, Saxon/Placid Area and the Light Oil Exploration Areas.
Sample 1
Light Oil assets means the interests of Athabasca in approximately 484,000 net acres of land as at December 31, 2015, primarily located in northwestern Alberta, which includes the Kaybob, Placid and Light Oil Exploration Areas.
Sample 1

Related to Light Oil assets

  • Retail Property means a Property improved with a building or buildings the substantial use of which is retail space, which may include a Property that is part of a Mixed-Use Property.

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Midstream Assets means (i) assets used primarily for gathering, transmission, storage, processing or treatment of natural gas, natural gas liquids or other hydrocarbons or carbon dioxide and (ii) equity interests of any Person that has no substantial assets other than assets referred to in clause (i).

  • Income Property means, in respect of each Sub-Fund, (a) all interest, dividends and other sums deemed by the Trustee, (after consulting the auditors either on a general or case by case basis), to be in the nature of income (including taxation repayments, if any) received or receivable by the Trustee in respect of the Deposited Property of the relevant Sub-Fund (whether in cash or, without limitation, by warrant, cheque, money, credit or otherwise or the proceeds of sale or transfer of any Income Property received in a form other than cash); (b) all interest and other sums received or receivable by the Trustee in respect of (a), (c) or (d) of this definition; (c) all cash payments received or receivable by the Trustee for the account of the relevant Sub-Fund in respect of an Application; and (d) all Cancellation Compensation received by the Trustee for the account of the relevant Sub-Fund; (e) any payments to be received or are receivable by the Trustee under any contractual agreements in the nature of investments for the benefit of the relevant Sub-Fund but excluding (i) the Deposited Property; (ii) any amount for the time being standing to the credit of the distribution account for the account of the relevant Sub-Fund or previously distributed to Unitholders; (iii) gains for the account of the relevant Sub-Fund arising from the realisation of Securities; and (iv) any sums applied towards payment of the fees, costs and expenses payable by the Trust from the Income Property of the relevant Sub-Fund;

  • Excluded Assets has the meaning set forth in Section 2.2.

  • Light vehicle means a motor vehicle commonly referred to as an automobile, van, sport utility

  • Transportation equipment means 1 or more of the following:

  • Farm winery means an establishment (i) located on a farm in the Commonwealth with a producing

  • Additional Assets means (1) any property, plant or equipment used in a Permitted Business; (2) the Capital Stock of a Person that becomes a Restricted Subsidiary as a result of the acquisition of such Capital Stock by the Company or another Restricted Subsidiary; or (3) Capital Stock constituting a minority interest in any Person that at such time is a Restricted Subsidiary; provided, however, that any such Restricted Subsidiary described in clause (2) or (3) of this definition is primarily engaged in a Permitted Business.

  • Mining Property means a property used for mining operations as defined in the Mineral and Petroleum Resources Development Act, 2002 (Act No. 28 of 2002);

  • Oil means petroleum in any form including crude oil, fuel oil, sludge, oil refuse and refined products (other than petrochemicals which are subject to the provisions of Annex II of the present Convention) and, without limiting the generality of the foregoing, includes the substances listed in Appendix I to this Annex.

  • Fuel burning equipment means any furnace, boiler, apparatus, stack and all associated equipment, used in the process of burning fuel.

  • Mono-fuel gas vehicle means a mono fuel vehicle that primarily runs on LPG, NG/biomethane, or hydrogen but may also have a petrol system for emergency purposes or starting only, where the petrol tank does not contain more than 15 litres of petrol;

  • Sale Assets is defined in Section 5.2(a)(ii).

  • Industrial Property – means property used for construction, repair, trade or manufacturing, production, assembly or processing of finished or partially finished products from raw materials or fabricated parts on such a large scale that capital and labour are significantly involved, and includes any office or other accommodation on the same property, the use of which is incidental to such activity;

  • Winery means a business conducted by any person for