Proved Developed Producing Reserves means Proved Reserves which are categorized as both “Developed” and “Producing” in the Definitions, “Proved Developed Nonproducing Reserves” means Proved Reserves which are categorized as both “Developed” and “Nonproducing” in the Definitions, and “Proved Undeveloped Reserves” means Proved Reserves which are categorized as “Undeveloped” in the Definitions.
Proved Developed Producing Reserves means oil and gas reserves that, in accordance with Petroleum Industry Standards, are classified as both “Proved Reserves” and “Developed Producing Reserves.”
Proved Developed Producing Reserves means those Oil and Gas Properties designated as proved developed producing (in accordance with the Definitions for Oil and Gas Reserves approved by the Board of Directors of the Society of Petroleum Engineers, Inc. from time to time) in the Reserve Report.
Examples of Proved Developed Producing Reserves in a sentence
On or prior to the date that is sixty (60) days following the Effective Date, the Borrower and each Restricted Subsidiary shall enter into and maintain Swap Agreements with one or more Approved Counterparties the notional volumes for which are not less than fifty percent (50%) of the Projected Volume of such Person’s total Proved Developed Producing Reserves for a period beginning on the date that is sixty (60) days following the Effective Date and ending on the first anniversary of the Effective Date.
More Definitions of Proved Developed Producing Reserves
Proved Developed Producing Reserves which are proved developed reserves which are expected to be produced from existing wells; and
Proved Developed Producing Reserves has the meaning assigned such term in the SPE Definitions.
Proved Developed Producing Reserves has the meaning set forth in the definition of “Proved Reserves.”
Proved Developed Producing Reserves or “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.
Proved Developed Producing Reserves has the meaning assigned to that term by the Society of Petroleum Engineers, as it may be amended from time to time, but generally shall mean the subcategory of “Proved Developed Reserves” (as defined by the Society of Petroleum Engineers) which are recoverable by natural reservoir energies (including pumping) from the completion intervals currently open and producing to market. Additional oil and gas expected to be obtained through the application of fluid injection or other improved recovery techniques for supplementing the natural forces and mechanisms of primary recovery will be included as “Proved Developed Producing Reserves” only after testing by a pilot project or after the operation of an installed program has confirmed through production response through existing completions producing to market that increased recovery will be achieved. Proved Developed Producing Reserves shall not include any Proved Developed Non-Producing Reserves.
Proved Developed Producing Reserves or “PDP” means “proved developed producing oil and gas reserves” as such term is defined by the SEC in its standards and guidelines.
Proved Developed Producing Reserves means Proved Reserves which are categorized as both “Developed” and “Producing” in the Definitions for Oil and Gas reserves promulgated by the Society of Petroleum Engineers (or any generally recognized successor) as in effect at the time in question.