Net Reserves definition

Net Reserves. ’ means a working-interest (operating or non-operating) share of oil and gas reserves after deduction of royalty obligations and of reserves to be allocated to government authorities under a production-sharing contract or other oil and gas permit plus including the Corporation’s royalty interests in reserves.

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Net Reserves means Athabasca’s working interest (operating or non-operating) share after deduction of royalty obligations, plus Athabasca’s royalty interests in reserves.

Net Reserves means Athabasca's working interest (operating or non-operating) share after deduction of royalty obligations, plus Athabasca's royalty interests in reserves.

Examples of Net Reserves in a sentence

The Ceding Commission due Ceding Company on the Effective Date shall be paid to Ceding Company by Reinsurer by means of Ceding Company retaining said amount from the Adjusted Net Reserves transferred to Reinsurer as set forth in Article 4.2.
On the Effective Date, Ceding Company shall pay to Reinsurer the Initial Consideration in an amount equal the Adjusted Net Reserves calculated immediately prior to the application of this Agreement and as of the Effective Date, less the Ceding Commission.
SEC PARAMETERS Estimated Net Reserves and Income Data Certain Leasehold Interests of MARINER ENERGY, INC.
Reinsurer shall establish reserves in respect to the Reinsured Policies (“Ceded Reserves”) in an amount equal to Adjusted Net Reserves.
The Reinsured shall, in its sole discretion, have the authority to establish the amount of Net Reserves, provided that such Net Reserves are established in accordance with generally accepted actuarial principles, consistently applied.

More Definitions of Net Reserves

Net Reserves means Corridor's working interest reserves after royalty deductions plus royalty interest reserves;

Net Reserves shall be calculated as Statutory Reserves, net of Statutory Reserves for Existing Reinsurance, which would have been or should have been reported by Ceding Company on its NAIC Convention Blank as of the date of calculation with respect to the Reinsured Policies as if this Agreement were not in effect.

Net Reserves means the total of GGR's working interest in the estimated resources after the deduction of the Government's share of production under the applicable production sharing agreement and after the deduction of all applicable royalties.

Net Reserves means the gross Reserves in respect of accident years prior to 2005, net of net retrocession recoverables against such Reserves.

Net Reserves means the sum of the following amounts attributable to the Policies, calculated in a manner consistent with the Annual Statement:

Net Reserves means Athabasca’s working interest (operating or non-operating) share after deduction of royalty

Net Reserves means the statutory reserves attributable to the Contractual Liabilities reinsured hereunder determined as of the Effective Date and in accordance with Company SAP consistently applied, net of (1) reserves ceded under Other Reinsurance, (2) reserves for life claims in the course of settlement, (3) life claims that have been incurred but not reported, and (4) annuities in payout, each as of the Effective Date.