FUTURE NET definition

FUTURE NET. REVENUES" shall mean, for any period, the future gross revenues attributable to all or a part (as specified herein) of Proved Reserves constituting part of the Hydrocarbon Properties for such period less the sum for such period of all projected Operating Expenses and Capital Expenditures with respect thereto, as set forth in the related Borrowing Base Report, and less (without duplication) all amounts projected to be applied to the discharge of any Production Payment and to the unearned balance of any advance payment received under any contract to be performed relating to such Proved Reserves.

FUTURE NET. REVENUES" shall mean, as of any date of determination for any period, the projected gross revenues attributable to all or a part (as specified herein) of Proved Reserves constituting part of the Hydrocarbon Properties included in the Reserve Evaluation Report for such period less the sum for such period of all projected Operating Expenses and Capital Expenditures with respect thereto, as set forth in the related Reserve Evaluation Report, and less (without duplication) all amounts projected to be applied to the discharge of any advance payments on similar agreements with respect to hydrocarbons in place and to the unearned balance of any advance payment received under any contract to be performed relating to such Proved Reserves.

Examples of FUTURE NET in a sentence

• EFFECTIVE DECEMBER 31, 1998 FOR DISCLOSURE TO THE SECURITIES AND EXCHANGE COMMISSION WILLIAMSON PROJECT 9.8740 NET RESERVES AND FUTURE NET REVENUE FROM REPORTS PREPARED BY WILLIAMSON PETROLEUM CONSULTANTS, INC.

• YOUR RIGHT YOU MAY CHANGE THE ALLOCATION OF FUTURE NET PREMIUMS AMONG THE GENERAL ACCOUNT TO CHANGE AND/OR THE DIVISIONS OF SEPARATE ACCOUNT ELEVEN SUBJECT TO THE CONDITIONS OUTLINED ALLOCATION IN THE ALLOCATION OF THE NET PREMIUMS PROVISION.

• IF YOU EXERCISE YOUR ONE TIME CONVERSION RIGHT, WE WILL AUTOMATICALLY ALLOCATE ALL FUTURE NET PREMIUMS TO THE GENERAL ACCOUNT.

• STANDARDIZED MEASURE OF DISCOUNTED FUTURE NET CASH FLOWS AND CHANGES THEREIN The standardized measure of discounted future net cash flows is based on estimates made by Sproule of net proved reserves.

• THESE STATEMENTS INCLUDE, AMONG OTHERS, INFORMATION REGARDING FUTURE OPERATIONS, FUTURE CAPITAL EXPENDITURES, AND FUTURE NET CASH FLOW.

• STANDARDIZED MEASURE OF DISCOUNTED FUTURE NET CASH FLOWS AND CHANGES THEREIN The standardized measure of discounted future net cash flows is based on estimates made or audited by GLJ and Sproule of net proved reserves.

• Gas FUTURE NET INCOME - $M INTEREST Condensate Products Gas $/bbl.

• PART 4 RECONCILIATIONSRECONCILIATION OF CHANGES IN RESERVES AND FUTURE NET REVENUE Item 4.1 Reserves Reconciliation 1.

• PART 4 RECONCILIATIONS OF CHANGES IN RESERVES AND FUTURE NET REVENUE Item 4.1 Reserves Reconciliation 1.

• SUMMARY OF NET PRESENT VALUES OF FUTURE NET REVENUEas of December 31, 2006 FORECAST PRICES AND COSTS RESERVES CATEGORY (1) A reporting issuer may wish to satisfy its requirement to disclose these unit values by inserting this disclosure for each category of proved reserves and for probable reserves, by production group, in the chart for item 2.1(3)(c) of Form 51-101F1 (see sample chart below entitled Future Net Revenue by Production Group).(2) The unit values are based on net reserve volumes.