Take in kind definition
Take in kind means a nonoperator elects to receive production in lieu of proceeds from the sale of production.
Take in kind means the event when an election is made by an interest owner under lease or joint operating agreement, with not6ice to the affe4cted parties, to separately market or dispose of crude oil natural gas or natural gas products. An interest owner must affirmatively exercise an option under a lease or operating agreement to separately market his share of the production to qualify as take in kind. If an option to separately market is not exercised by the interest owner, the operator shall report the interest owner’s portion of the production. The phrase “take in kind” does not include sales under common agreement by interest owners and the operator where the purchases merely makes disbursements for the purchases directly to the parties selling their production.
Take in kind means an operator or non-operator who elects to receive production in lieu of proceeds from the sale of production.
More Definitions of Take in kind
Take in kind means Producer has elected to cease the sale of one hundred percent (100%) of Producer’s Residue Gas, attributable to a given ITC, to G▇▇▇▇▇▇▇ hereunder, and to accept full responsibility for the marketing and sale of the same, in which case G▇▇▇▇▇▇▇’s responsibility shall be limited to redelivery of the same to the Delivery Point(s).