Oil and Gas Interest definition

Oil and Gas Interest means any oil or gas royalty or lease, or fractional interest therein, or certificate of interest or participation or investment contract relative to such royalties, leases or fractional interests, or any other interest or right which permits the exploration of, drilling for, or production of oil and gas or other related hydrocarbons or the receipt of such production or the proceeds thereof.

Oil and Gas Interest means (a) (i) any oil and gas lease or oil, gas and mineral lease and interests in such leases (including leasehold interests, royalty and overriding royalty interests and production payments), any mineral fee interests and any other mineral or royalty interests, and (ii) all rights and interests in lands and leases pooled, unitized or communitized with any such leases or mineral interests (the foregoing, collectively, “Leases”) and options to acquire the same, (b) any wells or future wells located on a Lease, (c) any oil, gas or mineral unitization, pooling, operating or communitization Contracts, declarations or orders, and any interests in the units created thereby,

Oil and Gas Interest means the ownership of, or an interest in, oil and gas or a right to drill for, take, win, gain and remove oil and gas from land, whether the ownership, interest or right is acquired by lease, grant, assignment or otherwise, but does not include

Examples of Oil and Gas Interest in a sentence

• For purposes of such computation, the adjusted basis of each Oil and Gas Interest shall be allocated in accordance with the Partners’ interests in the capital of the Partnership.

• This agreement shall remain in full force and effect as to the Oil and Gas Leases and/or Oil and Gas Interests subject hereto for the period of time selected below; provided, however, no party hereto shall ever be construed as having any right, title or interest in or to any Lease or Oil and Gas Interest contributed by any other party beyond the term of this agreement.

• No Oil and Gas Interest is subject to a gas balancing arrangement under which one or more third parties may take a portion of the production attributable to such Oil and Gas Interest without payment (or without full payment) therefor as a result of production having been taken from, or as a result of other actions or inactions with respect to, other properties.

• CurrentLoan-to-Value (LTV) (%)[...][...][...][...][...][...][...][...][...][...]1.2.17.

• Except for production sales contracts and other agreements relating to the marketing of production that are listed on Schedule 4.19, no Oil and Gas Interest is subject to any long-term contract or any other arrangement for the sale of production (or otherwise related to the marketing of production) which provides for fixed prices which cannot be canceled on 120 days’ (or less) notice without material penalty.

More Definitions of Oil and Gas Interest

Oil and Gas Interest has the meaning specified in Section 18.2(g).

Oil and Gas Interest shall also include surface rights or interests (including easements, rights-of-way, and surface ownership) in lands lying within the Area of Mutual Interest , and options to acquire such surface rights or interests, and any surface rights or interests acquired pursuant to the exercise of any options.

Oil and Gas Interest means non-operated or non-working direct and indirect interests in and rights with respect to oil, gas, mineral, and related properties (including revenues or net revenues therefrom) and assets of any kind and nature.

Oil and Gas Interest or “Interests” shall mean the AMI Interests.

Oil and Gas Interest means (a) (i) any oil and gas lease or oil, gas and mineral lease and interests in such leases (including leasehold interests, royalty and overriding royalty interests and production payments), any mineral fee interests and any other mineral or royalty interests, and (ii) all rights and interests in lands and leases pooled, unitized or communitized with any such leases or mineral interests (the foregoing, collectively, “Leases”) and options to acquire the same, (b) any wells or future wells located on a Lease, (c) any oil, gas or mineral unitization, pooling, operating or communitization Contracts, declarations or orders, and any interests in the units created thereby, (d) any oil and gas sales, purchase, transportation, gathering, balancing, exchange and processing Contracts, any casinghead gas Contracts, any operating agreements, farmout agreements, farmin agreements, saltwater disposal agreements, water injection agreements or line well injection agreements, (e) any road use agreements, surface use agreements, rights of way, easements, licenses, permits, surface leases and other agreements and instruments relating to Leases, other real property or the production of Hydrocarbons therefrom, (f) any personal property, improvements, lease and well equipment, pipelines, pumps, sulfur recovery facilities, dehydration facilities, treating facilities, valves, meters, separators, tanks, tank batteries, and other fixtures located on, attributable to, or used in connection with any other Oil and Gas Interest (such items being referred to in this Agreement as “Facilities”), and (g) any land and lease files, abstracts and title opinions, production records, well files, accounting records, tax records, seismic records and surveys, gravity maps, electric logs, engineering, geological or geophysical maps, data, and records, and other files, documents and records related to any other Oil and Gas Interest.

Oil and Gas Interest has the meaning set forth in the definition of “Assets”.

Oil and Gas Interest means any right, title, or interest (or contractual right to acquire any right, title, or interest) in, to and under any oil, gas, or other mineral lease or any other interest in oil and gas, including prospects, leases, xxxxx, mineral rights, working interests, royalties, overriding royalties, net profits interests, production payments, farm-ins, rights-of-way, easements, licenses and permits and also including any right, title or interest (or contractual right to acquire and right, title or interest) in any geological or geophysical data related to any of the foregoing.