Examples of PDNP Reserves in a sentence
The Reserve Report as of December 31 of each year shall be prepared (i) with respect to PDP Reserves, by one or more Approved Petroleum Engineers and (ii) with respect to PDNP Reserves and PUD Reserves, either by Approved Petroleum Engineers or by the Borrower’s internal reserve engineering staff in accordance with the procedures used in the immediately preceding December 31 Reserve Report.
As of any date of determination, an amount equal to the sum of (i) sixty percent (60%) of the PDP Reserves Value, plus (ii) twenty-five percent (25%) of the PDNP Reserves Value, plus (iii) ten percent (10%) of the PUD Reserves Value; provided, however, that the portion of the Advance Rate Reserves Value accounted for under clauses (ii) and (iii) combined may not exceed twenty-five percent (25%) of the Advance Rate Reserves Value.
As of the date of determination, the sum of (i) PDP Reserves Value, plus (ii) PDNP Reserves Value, and plus (iii) PUD Reserves Value.
The Reserve Report will separately report on PDP Reserves, PDNP Reserves and PUD Reserves in accordance with the requirements of Rule 4-10 of Regulation S-X of the Securities and Exchange Commission.
The Proved Developed Producing (PDP) and Proved Developed Non-Producing (PDNP) Reserves were evaluated in this report.