Proved developed producing definition

Proved developed producing means reserves expected to be recovered from currently producing zones under continuation of present operating methods. This category includes recently completed shut-in gas wells scheduled for connection to a pipeline in the near future.

Proved developed producing means proved reserves that can be expected to be recovered from currently producing zones under the continuation of present operating methods.

Proved developed producing. (PDP) reserves means those reserves denominated as such and determined in accordance with the methods commonly accepted by the Society of Petroleum Engineers for evaluating oil and gas reserves.

Examples of Proved developed producing in a sentence

• Proved developed producing reserves are expected to be recovered from completion intervals that are open and producing at the time of the estimate.

• Proved developed producing coverage ratio, based on reserve reports internally prepared by Hemisphere, shall not be less than 1.00 to 1.00.

• Proved developed producing coverage ratio for the quarter ended June 30, 2018, based on reserve reports internally prepared by Hemisphere, and each quarter thereafter shall not be less than 1.00 to 1.00.

• See “Non-GAAP Measures and Ratios" and “Forward Looking Information and Statements” section in the Reader Advisories.3. Proved developed producing reserves of 4.9 MMboe at December 31, 2020 consisting of 1.5 MMbbl of light and medium crude oil (31%), 1.2 MMbbl of NGLs (24%) and 13.3 MMcf of natural gas (45%).

• Proved developed producing coverage ratio, as defined in the Credit Agreement, means as of any date of determination, the ratio of (a) proved developed producing reserves on a pre-tax basis at 10% to (b) the sum of (i) Consolidated Total Debt and (ii) without duplication of clause (a) above, all obligations (after giving effect to any netting requirements) under any swap agreement that such person would be required to pay if the swap agreement was terminated at such time, in each case, as of such date.

• Proved developed producing reserves increased 127% as a result of the reclassification of the reserves assigned to the first phase of the Onion Lake thermal project from undeveloped to producing.

• Proved developed producing coverage ratio, as defined in the Credit Agreement, means as of any date of determination, the ratio of (a) proved developed producing reserves on a pre- tax basis at 10% to (b) the sum of (i) Consolidated Total Debt and (ii) without duplication of clause (a) above, all obligations (after giving effect to any netting requirements) under any swap agreement that such person would be required to pay if the swap agreement was terminated at such time, in each case, as of such date.

• Proved developed producing reserves were estimated by extrapolation of historical production trends using a hyperbolic curve with a 6-percent exponential tail that was terminated at an economic limit based on current economic conditions.

• Proved developed producing reserves of 2.024 mmboe and proved plus probable reserves of 7.118 mmboe were booked to 32 (20.5 net) producing wells.

• The rules and regulations and any subsequent amendments thereto formulated or adopted by the Commissioner of Labor shall be adopted in accordance with the Oklahoma Administrative Procedures Act, except that the rules applying to the construction of new boilers and pressure vessels shall not become mandatory until six (6) months after their promulgation by the Commissioner.

More Definitions of Proved developed producing

Proved developed producing. Proved Developed Non Producing", "Proved Developed Behind Pipe", "Proved Developed Shut-in", other "Proved Developed Non Producing" and "Proved Undeveloped", (ii) take into account any "over-produced" status under gas balancing arrangements, and (iii) contain information and analysis comparable in scope to that contained in the Initial Engineering Reports. Accompanying each Engineering Report, the Borrower shall deliver a report reflecting the occurrence of the following events since the date of the most recent Engineering Report: (i) all property sales and pending property sales identifying the property and sale price therefor, (ii) all property purchases and pending property purchases (unless such disclosure will in the reasonable judgment of counsel to the Borrower violate a confidentiality agreement) identifying the property and the purchase price therefor, and (iii) changes in the categories of proved developed and proved undeveloped reserves attributable to each oil and gas property or interest of the Company and its Subsidiaries;