Prudhoe Bay Unit definition

Prudhoe Bay Unit means the oil and gas leases subject to the Prudhoe Bay Unit Agreement on January 1, 2005, or as later expanded or contracted.
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Prudhoe Bay Unit is the oil and gas unit situated on the North Slope of Alaska in which the Subject Interests have been heretofore unitized for the production of oil and gas.
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Prudhoe Bay Unit. Agreement shall mean the agreement dated April 1, 1977, as amended, among the State of Alaska and the Prudhoe Bay Unit Working Interest Owners (as defined in said agreement) establishing the Prudhoe Bay Unit.
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Examples of Prudhoe Bay Unit in a sentence

  • The Parties agree that any gas produced from a reservoir within the Point Thomson Unit and injected into a reservoir within the Prudhoe Bay Unit pursuant to a Point Thomson Gas Development / Prudhoe Bay Enhanced Recovery Project is only subject to tax and royalty one time.

  • See Appendix 1 for an illustration of the State’s nomination procedure for Sale Oil nominated from the Prudhoe Bay Unit for July 2004.

  • Gas Cap Area Participation shall have the meaning stated in the Prudhoe Bay Unit Operating Agreement.

  • However, as more fully set forth in Section 7.2, Grantor has agreed to pay timely all costs and expenses chargeable to it pursuant to the Prudhoe Bay Unit Operating Agreement and to insure that no such costs and expenses will be chargeable against the Royalty Interest.

  • The proposed Sakonowyak River Unit is located on the North Slope approximately three miles north of the Prudhoe Bay Unit boundary and bounds the western border of the Northstar Unit.

  • Grantor and Grantee acknowledge that, pursuant to the terms of the Prudhoe Bay Unit Operating Agreement, if Grantor fails to pay any costs or expenses chargeable to Grantor under the Prudhoe Bay Unit Operating Agreement and the production of Oil is insufficient to pay such costs and expenses, then the Royalty Interest is chargeable with a pro rata portion of such cost and expenses and is subject to the enforcement against it of liens granted to the unit operators of the Prudhoe Bay Unit.

  • Also, if any other or additional instruments are required in connection with the transfer of interests in the Leases to comply with applicable law, regulations, the Prudhoe Bay Unit Agreement, the Prudhoe Bay Unit Operating Agreement or any other applicable agreements, Grantor will execute and deliver the same.

  • Oil Rim Participating Area shall have the meaning stated in the Prudhoe Bay Unit Agreement.

  • Oil Rim Area Participation shall have the meaning stated in the Prudhoe Bay Unit Operating Agreement.

  • The Subject Interests have been heretofore unitized for the production of oil and gas in the Prudhoe Bay Unit.


More Definitions of Prudhoe Bay Unit

Prudhoe Bay Unit means the oil and gas leases and described land located on the North Slope of Alaska as may exist from time to time from which oil, gas and associated substances are developed and produced under the terms of the Unit Agreement Prudhoe Bay Unit with the State of Alaska, dated April 1, 1977 and the Unit Operating Agreement Prudhoe Bay Unit by and between the Working Interest Owners of the Prudhoe Bay Unit, dated April 1, 1977, each as amended from time to time.
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Related to Prudhoe Bay Unit

  • Family Unit means the Employee and his or her Dependents covered under the Plan.

  • sub-unit means, with respect to any currency other than euro, the lowest amount of such currency that is available as legal tender in the country of such currency and, with respect to euro, means one cent.

  • apartment unit means any residential dwelling unit within a building containing three or more dwelling units where access to each residential unit is obtained through a common entrance or entrances from the street level and the residential units are connected by an interior corridor;

  • Management Unit means an area established by the Commission for management purposes.

  • LLC Unit means a common limited liability interest in the Company.

  • Common Unit Economic Balance has the meaning set forth in Section 5.01(g) hereof.

  • Settlement Unit means each hour in a day divided into hour-long periods starting at 00:00 on such day.

  • Heat unit means a unit of energy equal to the product of the peak kilovoltage, milliamperes, and seconds, i.e., kVp x mA x second.

  • OP Unit Economic Balance has the meaning set forth in Section 6.03(c) hereof.

  • Procurement Unit means the unit or department within GRDA that is responsible for administering procurement policies and procedures.

  • GP Unit means a Partnership Unit which is designated as a GP Unit of the Partnership.

  • Unit Share means a Common Share comprising part of each Unit;

  • Project Management Unit or “PMU” means the Recipient’s management and Implementation unit referred to in Section I.A.2 of Schedule 2 to this Agreement.

  • Purchaser Common Stock means the common stock, par value $0.01 per share, of Purchaser.

  • Units means the units of the Company, each comprised of one share of Common Stock and one-half of one Warrant.

  • Cogeneration unit means a unit that is able to operate in cogeneration mode;

  • OP Unit means a Partnership Unit which is designated as an OP Unit of the Partnership.

  • Spending unit means the department, bureau, division, office, board, commission,

  • Fractional Share means a fractional share in the ICAV issued in accordance with Section 12.5.

  • Common Unit means a common unit representing a limited partner interest in the Partnership having the rights set forth in the Partnership Agreement.

  • COP means the conference of the parties to the Convention;

  • Unit and “Quality” means the unit and quantity specified in the schedule.

  • Class A Common Unit means a Common Unit having the rights and obligations specified with respect to Class A Common Units in this Agreement.

  • Time-share unit means a condominium unit in which a time-share estate or a time-share license exists.

  • RSSB means Rail Safety and Standards Board Limited (a company limited by guarantee and registered in England and Wales under number 04655675), and its successors and assigns.