Tract Participation definition

Tract Participation means the percentage shown

Tract Participation means the percentage of Unitized Substances and costs allocated to a Unit Tract in a Participating Area.

Tract Participation means the participation percentage assigned to a Tract pursuant to Article VI;

Examples of Tract Participation in a sentence

• On and after the Effective Date of this Agreement, the Production Allocation Substances when produced from the Well shall be allocated among the Tracts in accordance with their respective Tract Participation Factors.

• Within thirty days after approval by the Commissioner of any division of interest or allocation formula establishing or revising the Unit Tract Participation of any Unit Tract or Unit Tracts in a Participating Area, the Unit Operator shall submit revised Exhibits C and F to the Commissioner.

• Allocation Among Tracts On and after the Effective Date of this Agreement, the Production Allocation Substances when produced from the Well shall be allocated among the Tracts in accordance with their respective Tract Participation Factors.

• An original or revised conforming Exhibit C and F shall be submitted to the Commissioner within thirty days of: any change in the division of interest or allocation formula establishing or revising the Unit Tract Participation of any Unit Tract or Unit Tracts in a Participating Area.

• If the Director does not specify any Unit Tracts in the written notice to the Unit Operator, the Unitized Substances taken in-kind will be allocated to all Unit Tracts in accordance with the Tract Participation shown on Exhibit C to this Agreement.

More Definitions of Tract Participation

Tract Participation means each Group’s share of Petroleum in the Unit Reservoir as set out in Appendix A.

Tract Participation is defined as the percentage of participation as is shown on Exhibit “C” for allocating Unitized Substances to a Tract under this agreement.

Tract Participation means each Tract’s undivided allocation of Unit Substances under Article 4.2(A) and the undivided share of the rights and obligations of the Parties under this Agreement with respect to the Unit and in the Unit Facilities, Unit Data and other assets held for the Unit Account accruing to the Contract Group associated with that Tract, expressed as a percentage to four (4) decimal places, as initially set out in Exhibit A, but subject to adjustment pursuant to Articles 5.3, 5.4, 13.1(B) and 13.2(A).

Tract Participation means the share of production from a unitized zone that is allocated to a unit tract under a unit agreement or unitization order or the share of production from a pooled spacing unit that is allocated to a pooled tract under a pooling agreement or pooling order;

Tract Participation means the percentage shown in the plan of unitization participation formula for allocating unit production to a tract, which is measured by the value calculated for each tract for oil, gas, or oil and gas purposes based on its contributing value to the unit in relation to like values of other tracts in the unit, the sum of which is 100 percent.

Tract Participation means the percentage shown in the plan of unitization for allocating unit production to a tract.

Tract Participation means the share of production from a unitized zone that is allocated to a unit tract pursuant to a unit agreement or unitization order or the share of production from a pooled spacing unit that is allocated to a pooled tract pursuant to a pooling agreement or pooling order;