Producing Reserves definition

Producing Reserves means the Proved Reserves from reservoirs that are currently being produced and sold.
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Producing Reserves means those reserves that are actually on production and could be recovered from existing wells and facilities or, if facilities have not been installed, that would involve a small investment relative to cash flow to install those facilities. In multi-well pools involving a competitive situation, reserves may be subdivided into producing and non-producing reserves in order to reflect allocation of reserves to specific wells and their respective development status.
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Producing Reserves means those reserves that are actually on production, or if not producing, that could be recovered from existing wells or facilities and where the reason for the current non-producing status is the choice of the owner.
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Examples of Producing Reserves in a sentence

  • In determining the Repurchase Price for Unit Holders pursuant to this Article Fifteen, the present value of the Partnership's Proved Developed Producing Reserves shall be reduced by 25% for risk and the present value of all other categories of Proved Reserves shall be reduced by 35% for risk.

  • The Borrower shall from time to time enter into Swap Agreements in respect of commodities so that the notional volumes of all Swap Agreements, in the aggregate, are more than 75% of the reasonably anticipated projected production from Borrower's Proved Developed Producing Reserves for each month during the term of this Agreement.

  • Developed Producing Reserves to ------------------------------------------------------------ Total Debt.

  • The Borrower will not permit, as of the last day of any fiscal ----------- quarter, from and after January 1, 2004, its ratio of the Net Present Value of Proved Developed Producing Reserves, to Total Debt to be less than 1.00:1.

  • The Borrower shall from time to time enter into Swap Agreements in respect of commodities so that the notional volumes of all Swap Agreements and additional fixed-price physical off-take contracts, in the aggregate, are more than 50% of the reasonably anticipated projected production from the Borrower’s Proved Developed Producing Reserves for each month continuing through and including the date that is thirty-six (36) months following the effective date of each such Swap Agreement.

  • The Borrower shall cause the Mortgaged Properties to constitute at least eighty-five percent (85%) of the total value of the Proved Reserves of the Borrower and its Subsidiaries and at least eighty-five percent (85%) of the total value of the Proved Developed Producing Reserves of the Borrower and its Subsidiaries (in this Section called the “Required Percentages”).

  • Without limiting the foregoing sentence, such report shall include a discussion of assumptions as to engineering, pricing and expenses, and an economic evaluation together with the reserve value of each well of each property in which the Borrower owns an interest, and further categorized as Collateral or non-Collateral, and as Proved Developed Producing Reserves, Proved Developed Non-Producing Reserves, or Proved Undeveloped Reserves.

  • Until Disqualifying Condition Termination, EPL shall cause the EPL Mortgaged Properties to constitute at least eighty-five percent (85%) of the total value of the Proved Reserves of EPL and its Subsidiaries and at least eighty-five percent (85%) of the total value of the Proved Developed Producing Reserves of EPL and its Subsidiaries (in this Section called the “Required EPL Percentages”).

  • The Administrative Agent shall be satisfied that the Loan Parties have granted to it, at such time, first priority perfected Liens on Oil and Gas Properties that are Mortgaged Properties, subject only to Permitted Liens, sufficient to cause the Mortgaged Properties to include eighty-five percent (85%) of the Net Present Value of the Proved Reserves and at least ninety-five percent (95%) of the Net Present Value of the Proved Developed Producing Reserves.

  • Without limiting the foregoing sentences, such reports shall include a discussion of assumptions as to engineering, pricing and expenses, and an economic evaluation together with the reserve value of each well of each property in the Borrowing Base, and further categorized as Collateral or non-Collateral and as Proved Developed Producing Reserves, Proved Developed Non-Producing Reserves, or Proved Undeveloped Reserves.