Projected Production definition
Projected Production means, as of any date of determination, the internally forecasted production of each of crude oil, natural gas liquids and natural gas, calculated on a barrel of oil equivalent basis, of the Borrower and its Restricted Subsidiaries, or in the case of a Proposed Acquisition, from the Oil and Gas Properties subject of such Proposed Acquisition, for each month for the period of the next 24 months commencing on the first day of the calendar month immediately following such date of determination.
Projected Production means the projected production of oil or gas (measured by volume unit or BTU equivalent, not sales price), as applicable, for the term of the contracts or a particular month, as applicable, from properties and interests owned by the Borrowers which are Collateral and which have attributable to them oil or gas proven reserves which are categorized as “Proved Reserves” as reflected in the engineering review prepared by the Lender in connection with the most recent determination of the Borrowing Base hereunder, after deducting projected production from any properties or interests sold or under contract for sale that had been included in such report; and
Projected Production as of any time means the projected production of oil, natural gas, condensate or natural gas liquids including gas processing plant products (measured by volume unit or BTU equivalent, not sales price), as applicable, for the term of the contracts or a particular month, as applicable, from properties and interests owned by Borrower or any of its Subsidiaries which are located in or offshore of the United States and which have attributable to them proved developed producing oil and gas reserves, as such production has been projected in the most recent Reserve Report delivered to Administrative Agent, after deducting projected production from any properties or interests sold or under contract for sale that had been included in such analysis.
Examples of Projected Production in a sentence
Borrower shall have entered into (and shall have provided evidence of such reasonably acceptable to Agent) Hedging Agreements for that percentage of Borrower’s and its Subsidiaries’ aggregate Projected Production required pursuant to Section 5.11, which agreements shall otherwise be in form and substance reasonably acceptable to Agent.
The Borrower shall execute and maintain crude ▇▇▇▇▇▇ on a minimum of 80.0% of Projected Production on a rolling 20 months basis.
Capital Equipment Costs will be amortized over each year’s Annual Projected Production.
In the event that Employee's Year 2000 Actual Production shall be less than Employee's Year 2000 Projected Production (as defined on Schedule B), then Employee shall return to the Company a certain number of Shares to be determined in accordance with the formula set forth on Schedule B.
Interest Expenses for each year will be amortized over the Annual Projected Production.
More Definitions of Projected Production
Projected Production means the projected production of oil or gas (measured by volume unit or BTU equivalent, not sales price), as applicable, for the term of the contracts or a particular month, as applicable, from properties and interests owned by the Borrower which are Collateral and which have attributable to them proved developed producing oil or gas reserves as reflected in the most recent engineering report delivered pursuant to Subsection 5.2(c), after deducting projected production from any properties or interests sold or under contract for sale that had been included in such report and after adding projected production from any properties or interests owned by the Borrower which have become Collateral and had not been reflected in such report that are reflected in a separate or supplemental report meeting requirements of such Subsection 5.2(c) and otherwise satisfactory to the Agent.
Projected Production as of any time means the projected production of Proved Developed Producing Oil and Gas Properties (measured by volume unit or BTU equivalent, not sales price), for the term of the contracts or a particular month, as applicable, as such production has been projected in the Reserve Report most recently delivered to the Lenders, as updated by any Return Certificate (or as otherwise approved by the Administrative Agent in its sole discretion), provided that “Projected Production” shall include pro forma proved developed producing reserves for any well a Credit Party is seeking to drill and that is the subject of a Return Certificate.”
Projected Production means, for any specified period, the projected volume of production of Hydrocarbons from Proved Reserves of the Oil and Gas Properties (as reflected on the most recently delivered Projected Production Report) reasonably anticipated by Borrower and acceptable to Administrative Agent, during such period.
Projected Production the projected production of Hydrocarbons (measured by volume unit or BTU equivalent, not sales price) from Oil and Gas Properties and interests owned by Borrower and its Subsidiaries which have attributable to them, (a) in the case of Section 5.11, Proved Developed Producing Reserves and (b) in the case of Section 6.16, Proved Reserves, as such production is projected in the most recent Reserve Report delivered pursuant to this Agreement, after deducting projected production from any Oil and Gas Properties or Hydrocarbon Interests sold or under contract for sale that had been included in such report and after adding projected production from any Oil and Gas Properties or Hydrocarbon Interests that had not been reflected in such report but that are reflected in a separate or supplemental report meeting the requirements of Section 5.2(c) and otherwise are satisfactory to Agent.
Projected Production means, for any fiscal quarter, the internally forecasted reasonably anticipated projected production of crude oil, natural gas and natural gas liquids from proved, developed, producing Oil and Gas Properties of the Borrower and its Subsidiaries for such quarter.
Projected Production means, as at the last day of any calendar month, the aggregate projected production (consistent with the assumptions contained in the annual budget delivered pursuant to Section 11.1(a)(vi)), expressed in ounces of gold, from the mines owned directly or indirectly by the Obligors for the next 18 months.
Projected Production means, as at the last day of any Fiscal Quarter, the aggregate projected production, expressed in ounces of gold, from the mines owned by the Companies for the next 18 months, such aggregate projected production (x) to be based upon the most recent budget of Kinross Canada delivered to the Administrative Agent pursuant to Section 11.01(a)(v), such budget to be in substantially the form previously provided by Kinross Canada to the Administrative Agent and (y) to be based on assumptions acceptable to the Majority Lenders, acting reasonably.