PDP Reserves definition

PDP Reserves means Proven Reserves which are categorized as both "Developed" and "Producing" in the definitions promulgated by the Society of Petroleum Evaluation Engineers and the World Petroleum Congress as in effect at the time in question.

PDP Reserves means the Proven Reserves which are categorized as both “developed” and “producing” under the definitions for oil and gas reserves promulgated by the Society of Petroleum Evaluation Engineers (or any generally recognized successor) as in effect at the time in question and reasonably acceptable to the Administrative Agent.

PDP Reserves means “proved developed producing oil and gas reserves” as such term is defined by the SPE in its standards and guidelines.

Examples of PDP Reserves in a sentence

• Any income accruing after death of the deceased accrues to the deceased‟s estate or the heirs.4 The deceased‟s estate (which comes into being from the date of death) is a different person for tax purposes, but is taxed according to the same rates applicable to natural persons (excluding the rebates).

• Acquisition MetricsEstimated Production (at closing) 2,500 boe/dFlowing Multiple $1,700 per boe/dPDP Reserves(1) $0.64/boeTotal Proved Reserves(1) $0.57/boeTotal Proved + Probable Reserves(1) $0.40/boeAnnual Net Operating Income Multiple(2)(3) 1.4xNotes:(1) PDP Reserves, Total Proved Reserves, Total Proved + Probable Reserves are derived from the &RPSDQin\ter¶naVl Q RE and prepared in accordance with NI 51-101 and the COGEH.(2) Based on 12 month strip from July 3rd 2020.

• If £10m of PDP Reserves are utilised in each of 2016/17 and 2017/18 then forecasted additional savings of £61.111m are required for the period 2016/17 to 2017/18.

• Each Engineering Report shall be prepared by a third-party engineer or engineering firm reasonably acceptable to Lender utilizing economic and pricing parameters used by the Securities and Exchange Commission as established from time-to-time together with such other information as Lender shall deem reasonably necessary to determine the value of Borrower’s PDP Reserves.

• The Liquidation Analysis suggests that all of the Debtors’ reserves, inclusive of their PDP reserves and undeveloped acreage, would sell at a 38% discount to the PV-10 value for just the PDP Reserves.

More Definitions of PDP Reserves

PDP Reserves means Proved Reserves which are categorized as both “Developed” and “Producing” in the SPE/WPC Definitions; “Proved Developed Non Producing Reserves” or “PDNP Reserves” means Proved Reserves which are categorized as both “Developed” and “Non Producing” in the SPE/WPC Definitions; and “Proved Undeveloped Reserves” or “PUD Reserves” means Proved Reserves which are categorized as “Undeveloped” in the SPE/WPC Definitions.

PDP Reserves means the Proven Reserves which are categorized as both “developed” and “producing” under the O&G Definitions.

PDP Reserves means the Proved Reserves that are expected to be produced from existing xxxxx with existing equipment and operating methods.

PDP Reserves means proved, developed, producing Hydrocarbon reserves, as determined in conformity with the guidelines in effect from time to time as promulgated by the Society of Petroleum Engineers or its successor association.

PDP Reserves means those Oil and Gas Properties designated as “proved developed and producing” (in accordance with SEC definitions and regulations) in the Reserve Report most recently delivered to the Administrative Agent pursuant to this Agreement.

PDP Reserves means the Proven Reserves which are categorized as both “developed” and “producing” under the O&G Definitions. “Pension Plan” means any Employee Benefit Plan, other than a Multiemployer Plan, which is subject to the provisions of Title IV of ERISA orSections 412 and 430 of the Code or Section 302 of ERISA.

PDP Reserves means "proved developed producing oil and gas reserves" as such term is defined by the SPE in its standards and guidelines. "Permitted Holders" means (a) HighPeak Pure Acquisition, LLC, a Delaware limited liability company, (b) HighPeak Energy Partners, LP, aDelaware limited partnership, (c) HighPeak Energy Partners II, LP, a Delaware limited partnership, (d) HighPeak Energy III, LP, a Delaware limited partnership, (e) (i) Jack Hightower, (ii) any immediate family member of Jack Hightower and (iii) the estate or legal representative of the estate of Jack Hightower and/or any immediate family members of Jack Hightower (acting in the capacity of such legal representative), (f) (i) John Paul DeJoria, (ii) the John Paul DeJoria Family Trust, (ii) any immediate family member of John Paul DeJoria and (iii) the estate or legal representative of the estate of John Paul DeJoria and/or any immediate family members of John Paul DeJoria (acting in the capacity of such legal representative) and (g) any Affiliated funds, investments vehicles, holding companies, trusts, partnerships, limited liability companies, corporations or other entities directly or indirectly owned, managed or controlled by one or more Persons in clauses (a), (b), (c), (d), (e) and/or (f) of this definition.