Examples of Commercial Field in a sentence
Any Development and Production Costs shall be separately identified for each Commercial Field, if such is the case, and the Contractor shall specify the basis of allocation of shared costs.
The forecast will estimate Gross Production for the next four (4) Calendar Quarters on a Commercial Field by Commercial Field basis, based on the production rates designed to maximize the ultimate recovery of Crude Oil (maximum efficient rate) from the Commercial Field in accordance with good and prudent petroleum industry practices and field conservation principles.
Exploration Operations shall continue in the remaining portion of the Contract Area until the end of the Exploration Period, subject to ring fencing per Commercial Field.
The R-factor shall be calculated for each Commercial Field on a Calendar Quarterly basis.
Exploration Expenditures which are attributable to a Commercial Field shall be reimbursed from that Commercial Field subject to Sub-Articles 3.4, 3.5 and 3.6.3.