Prudhoe Bay Unit definition

Prudhoe Bay Unit means the oil and gas leases subject to the Prudhoe Bay Unit Agreement on January 1, 2005, or as later expanded or contracted.
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Prudhoe Bay Unit is the oil and gas unit situated on the North Slope of Alaska in which the Subject Interests have been heretofore unitized for the production of oil and gas.
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Prudhoe Bay Unit means the oil and gas leases and described land located on the North Slope of Alaska as may exist from time to time from which oil, gas and associated substances are developed and produced under the terms of the Unit Agreement Prudhoe Bay Unit with the State of Alaska, dated April 1, 1977 and the Unit Operating Agreement Prudhoe Bay Unit by and between the Working Interest Owners of the Prudhoe Bay Unit, dated April 1, 1977, each as amended from time to time.
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Examples of Prudhoe Bay Unit in a sentence

  • The allocation of hydrocarbon liquids between the oil and condensate from the Field is a theoretical calculation performed in accordance with procedures specified in the Prudhoe Bay Unit Operating Agreement.

  • This current estimate of reserves is based upon various assumptions, including a reasonable estimate of the allocation of hydrocarbon liquids between oil and condensate pursuant to the procedures of the Prudhoe Bay Unit Operating Agreement.

  • The Prudhoe Bay Unit Operating Agreement specifies the allocation of production and costs to Prudhoe Bay Unit owners.

  • Since several oil companies hold acreage within the Field, the Prudhoe Bay Unit was established to optimize Field development.

  • This Plan updates and modifies the initial Plan of Development and Operation for the Oil Rim Participating Area and Gas Cap Participating Area (Initial Participating Areas or IPA) within the Prudhoe Bay Unit (PBU), incorporated into both the Prudhoe Bay Unit Operating Agreement and the Prudhoe Bay Unit Agreement as Exhibit "E".

  • BP will be released from its obligation under the Support Agreement upon the sale or transfer of all or substantially all of the Company's working interest in the Prudhoe Bay Unit if the transferee agrees to assume and be bound by BP's obligation under the Support Agreement in a writing reasonably satisfactory to the Trustee and if the transferee is an entity having a rating assigned to outstanding unsecured, unsupported long term debt from Moody's Investors Service, Inc.

  • The Prudhoe Bay Unit is an oil and gas unit situated on the North Slope of Alaska.

  • The Prudhoe Bay (Permo-Triassic) Reservoir is defined in the Prudhoe Bay Unit Operating Agreement.

  • Due to the differences in percentages between oil and condensate, the overall share of oil and condensate production allocated to the Subject Leases will vary over time according to the proportions of hydrocarbon liquid being allocated as condensate or as oil under the Prudhoe Bay Unit Operating Agreement allocation procedures.

  • The Parties agree that any gas produced from a reservoir within the Point Thomson Unit and injected into a reservoir within the Prudhoe Bay Unit pursuant to a Point Thomson Gas Development / Prudhoe Bay Enhanced Recovery Project is only subject to tax and royalty one time.


More Definitions of Prudhoe Bay Unit

Prudhoe Bay Unit. Agreement shall mean the agreement dated April 1, 1977, as amended, among the State of Alaska and the Prudhoe Bay Unit Working Interest Owners (as defined in said agreement) establishing the Prudhoe Bay Unit.
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Related to Prudhoe Bay Unit

  • FTPS Unit means Units which are purchased through the Fund/SERV(R) trading system or on a manual basis through FTP Services LLC or for which FTP Services LLC is acting as FTPS Unit Servicing Agent.

  • Family Unit means the Employee and his or her Dependents covered under the Plan.

  • sub-unit means, with respect to any currency other than euro, the lowest amount of such currency that is available as legal tender in the country of such currency and, with respect to euro, means one cent.

  • apartment unit means any residential dwelling unit within a building containing three or more dwelling units where access to each residential unit is obtained through a common entrance or entrances from the street level and the residential units are connected by an interior corridor;

  • Management Unit means an area established by the Commission for management purposes.

  • LLC Unit means a common limited liability interest in the Company.

  • Common Unit Economic Balance has the meaning set forth in Section 5.01(g) hereof.

  • Settlement Unit means each hour in a day divided into hour-long periods starting at 00:00 on such day.

  • Heat unit means a unit of energy equal to the product of the peak kilovoltage, milliamperes, and seconds, i.e., kVp x mA x second.

  • OP Unit Economic Balance has the meaning set forth in Section 6.03(c) hereof.

  • Procurement Unit means the unit or department within GRDA that is responsible for administering procurement policies and procedures.

  • GP Unit means a Partnership Unit which is designated as a GP Unit of the Partnership.

  • Unit Share has the meaning ascribed thereto in the first paragraph of this Agreement;

  • Project Management Unit or “PMU” means the Recipient’s management and Implementation unit referred to in Section I.A.2 of Schedule 2 to this Agreement.

  • Purchaser Common Stock means the common stock, par value $0.01 per share, of Purchaser.

  • Units means the units of the Company, each comprised of one share of Common Stock and one-half of one Warrant.

  • Cogeneration unit means a unit that is able to operate in cogeneration mode;

  • OP Unit means a Partnership Unit which is designated as an OP Unit of the Partnership.

  • Spending unit means the department, bureau, division, office, board, commission,

  • Fractional Share means a fractional share in the ICAV issued in accordance with Section 12.5.

  • Common Unit means a common unit representing a limited partner interest in the Partnership having the rights set forth in the Partnership Agreement.

  • COP means the conference of the parties to the Convention;

  • Unit and “Quality” means the unit and quantity specified in the schedule.

  • Class A Common Unit means a Common Unit having the rights and obligations specified with respect to Class A Common Units in this Agreement.

  • Time-share unit means a condominium unit in which a time-share estate or a time-share license exists.

  • RSSB means Rail Safety and Standards Board Limited (a company limited by guarantee and registered in England and Wales under number 04655675), and its successors and assigns.