Proved Developed Producing Reserves definition
Proved Developed Producing Reserves means Proved Reserves which are categorized as both “Developed” and “Producing” in the Definitions, “Proved Developed Nonproducing Reserves” means Proved Reserves which are categorized as both “Developed” and “Nonproducing” in the Definitions, and “Proved Undeveloped Reserves” means Proved Reserves which are categorized as “Undeveloped” in the Definitions.
Proved Developed Producing Reserves means oil and gas reserves that, in accordance with Petroleum Industry Standards, are classified as both “Proved Reserves” and “Developed Producing Reserves.”
Proved Developed Producing Reserves means those Oil and Gas Properties designated as proved developed producing (in accordance with the Definitions for Oil and Gas Reserves approved by the Board of Directors of the Society of Petroleum Engineers, Inc. from time to time) in the Reserve Report.
Examples of Proved Developed Producing Reserves in a sentence
As of the last day of each fiscal quarter (each such date, a “Specified Swap Test Date”), the Borrower and the Guarantors shall determine whether there are Hedge Contracts with an Approved Counterparty covering at least the Minimum Required Hedge Volume of the reasonably anticipated projected production from Proved Developed Producing Reserves of the Borrower and the applicable Subsidiaries based on the most recently delivered Reserve Report (the “Ongoing Minimum Hedge Requirement”).
More Definitions of Proved Developed Producing Reserves
Proved Developed Producing Reserves which are proved developed reserves which are expected to be produced from existing wells; and
Proved Developed Producing Reserves or “PDP Reserves” means oil and gas reserves that, in accordance with the Petroleum Industry Standards, are classified as both “Proved Reserves” and “Developed Producing Reserves.”
Proved Developed Producing Reserves has the meaning assigned such term in the SPE Definitions.
Proved Developed Producing Reserves means the Proved Reserves that are Developed Oil and Gas Reserves and are expected to be recovered from completion intervals that are open and producing at the time of determination; provided that improved recovery Proved Reserves are considered producing only after the improved recovery project is in operation.
Proved Developed Producing Reserves or “PDP” means “proved developed producing oil and gas reserves” as such term is defined by the SEC in its standards and guidelines.
Proved Developed Producing Reserves means “proved developed producing oil and gas reserves” as such term is defined by the SEC in its standards and guidelines.
Proved Developed Producing Reserves has the meaning assigned to that term by the Society of Petroleum Engineers, as it may be amended from time to time, but generally shall mean the subcategory of “Proved Developed Reserves” (as defined by the Society of Petroleum Engineers) which are recoverable by natural reservoir energies (including pumping) from the completion intervals currently open and producing to market. Additional oil and gas expected to be obtained through the application of fluid injection or other improved recovery techniques for supplementing the natural forces and mechanisms of primary recovery will be included as “Proved Developed Producing Reserves” only after testing by a pilot project or after the operation of an installed program has confirmed through production response through existing completions producing to market that increased recovery will be achieved. Proved Developed Producing Reserves shall not include any Proved Developed Non-Producing Reserves.