Net Acres means, as computed separately with respect to each Lease, (i) Seller’s Working Interest in the Lease multiplied by (ii) the number of gross acres covered by the Lease multiplied by (iii) the undivided interest in the oil and gas mineral fee estate in the land covered by the Lease.
Net Acres means the total number of acres owned by the applicable Shipper and its affiliates in the Development Area equal to the aggregate number (calculated on a tract by tract basis) of, as to any parcel, tract or aggregate thereof, the product of (a) the number of surface acres of land that are described in such parcel, tract or aggregate thereof (i.e. gross acres), multiplied by (b) the undivided interest in the fee minerals, non-executives interests and other mineral fee interests in such lands burdened by the applicable oil and gas lease(s), multiplied by (c) such Shipper’s and its affiliates’ aggregate working interest in such lease(s).
Net Acres means the total amount of land which can be used for development.
Examples of Net Acres in a sentence
The Company’s acquisition of 40% interest was relative to acreage that will be developed under the Chevron JV and was utilised to ensure equitable contribution of Net Acres.
Permissible range of residential units and minimum number of high-density residential units required based upon Net Acres.
Be the same more or less but subject to all legal highways and containing 0.8903 Gross Acres of land, of which 0.3706 Acres lie within the right-of-way of Xxxxxxx Road, and 0.0723 Acres lie within the right-of-way of Xxxxxxxx Road, leaving 0.4474 Net Acres.
Ordinance No. 755 An Ordinance of the City Council of the City of Moreno Valley, California, Approving PA07-0037 (Zone Change) to Change the Land Use for the 1.77- Net Acres of Assessor’s Parcel Number 291-242-018 from Office to Neighborhood Commercial Approved by a 4-0-1 vote, Flickinger absent.
Among other things, the Survey will set forth the Net Acres contained on the Land.
More Definitions of Net Acres
Net Acres means the percentage of total acres an owner owns out of a specific number of acres or specified area.
Net Acres means (a) with respect to any oil and gas lease in which Producer (or an Affiliate of Producer) has an interest, (i) the number of gross acres in the lands covered by such oil and gas lease, multiplied by (ii) the undivided percentage interest in oil, gas and other minerals covered by such oil and gas lease, multiplied by (iii) Producer’s (or its Affiliate’s) working interest in such oil and gas lease, and (b) with respect to any mineral fee interest of Producer (or an Affiliate of Producer), (i) the number of gross acres in the lands covered by such mineral fee interest, multiplied by (ii) the undivided percentage interest of Producer (or its Affiliate) in oil, gas and other minerals in such lands.
Net Acres means (a) with respect to any oil and gas lease in which Shipper has an interest, (i) the number of gross acres in the lands covered by such oil and gas lease, multiplied by (ii) the undivided percentage interest in oil, gas and other minerals covered by such oil and gas lease, multiplied by (iii) Shipper’s working interest in such oil and gas lease, and (b) with respect to any mineral fee interest of Shipper, (i) the number of gross acres in the lands covered by such mineral fee interest, multiplied by (ii) the undivided percentage interest of Shipper in oil, gas and other minerals in such lands.
Net Acres means (a) with respect to any oil and gas lease in which Producer has an interest, (i) the number of gross acres in the lands covered by such oil and gas lease, multiplied by (ii) the undivided percentage interest in oil, gas and other minerals covered by such oil and gas lease, multiplied by (iii) Producer’s working interest in such oil and gas lease, and (b) with respect to any mineral fee interest of Producer, (i) the number of gross acres in the lands covered by such mineral fee interest, multiplied by (ii) the undivided percentage interest of Producer in oil, gas and other minerals in such lands.
Net Acres means the percentage of total acres an owner owns or has leased out of a particular number of acres, or a specified tract. An owner who has 50% interest in 100 acres owns 50 net acres;
Net Acres means, as calculated separately with respect to each Real Property Interest, (a) the number of gross acres in the lands covered by such leasehold interest, multiplied by (b) the lessor’s interest in Hydrocarbons covered by such leasehold interest and attributable to the Target Formations, multiplied by (c) the applicable Seller’s undivided Working Interest in such lease, provided that if items (b) and/or (c) vary as to different areas of such lands covered by such leasehold interest, a separate calculation shall be done for each such area as if it were a separate leasehold interest.
Net Acres means, as computed separately with respect to each Real Property Interest, (a) the number of gross acres of land covered by such leasehold interest, multiplied by (b) the lessor’s undivided interest in Hydrocarbons covered by such leasehold interest, multiplied by (c) the Seller’s undivided interest in such leasehold interest, provided that if items (b) and/or (c) vary as to different areas of lands covered by such leasehold interest, a separate calculation shall be made for each such area.