Remaining Reserves means, in relation to each Borrowing Base Asset and any date, the quantities of Petroleum forecast in the then current Projection to be produced by that Borrowing Base Asset in the period from that date up to (and including) the Abandonment Date for such Borrowing Base Asset (as determined in accordance with Clause 7 (Projections)).
Remaining Reserves means, on any date, the aggregate amount of Hydrocarbons to be produced from all Borrowing Base Assets from such date up to (and including) the last Abandonment Date, as projected by the most recent Banking Case delivered under ARTICLE 3.
Remaining Reserves means, as of the date of any determination, all of the PDP Reserves projected to be attributable to the Subject Interests (whether attributable to the Production Payment or to Working Interest Owner's retained interests) after such date for the remaining expected productive life thereof.
Examples of Remaining Reserves in a sentence
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An example would be when the mud.arabah contract states that the investor will receive five percent of all profits as long as it does not exceed a given fixed percentage of the capital.
Remaining Reserves / ResourceFrontino had not conducted any regional surface geological mapping, geochemistry, or surface or airborne geophysics.
The Liquidation Trustee may, in the exercise of his or her business judgment, transfer any unused portion of the Remaining Reserves to the Liquidation Trust prior to the resolution of all Disputed Claims with a priority senior to an Allowed General Unsecured Claim, provided that the Trustee maintains sufficient Cash in the Remaining Reserves to fully pay any such Disputed Claims.
The Liquidation Trustee shall be reimbursed for his or her reasonable fees and out-of-pocket expenses (including the reasonable fees and expenses of any professionals employed by the Liquidation Trustee), incurred in connection with services provided to the Liquidation Trust, from the Liquidation Trust Expense Reserve and the assets ofthe Liquidation Trust (excluding the funds in the Remaining Reserves) in accordance with the Liquidation Trust Agreement without application to the Bankruptcy Court.
More Definitions of Remaining Reserves
Remaining Reserves means, in relation to each Hydrocarbon Interest in Turkey and any date, the quantities of Hydrocarbons forecast in the then current Reserve Report to be produced by that Hydrocarbon Interest in the period from that date up to (and including) the Abandonment Date shown in such Reserve Report for such Hydrocarbon Interest.
Remaining Reserves means, as of the date of any determination, the PDP Reserves projected to be attributable to the Subject Interests (i.e., both the Production Payment Hydrocarbons and the Retained Interest Hydrocarbons) after such date for the remaining expected productive life thereof. For the purpose of calculating Remaining Reserves, the sales prices of the Hydrocarbons to be produced from each Subject Interest will be assumed to be the Adjusted Prices as calculated on the date of determination. Calculations of Remaining Reserves will otherwise be based on the then most recent Reserve Report, after disregarding any reserves shown in such Reserve Report that have actually been produced on or before the date of determination of such Remaining Reserves.
Remaining Reserves means, as of the date of any determination, the Risk Adjusted Proved Reserves of Hydrocarbons projected to be attributable to the Subject Interests without regard to the Overriding Royalty. As used in this Section 5, "Risk Adjusted
Remaining Reserves means, as of the date of any determination, the Risk Adjusted Proved Reserves of Hydrocarbons projected to be attributable to the Subject Interests in Exhibit A without regard to the Production Payment. As used in this Section 3, "Risk Adjusted Proved Reserves" means proved reserves of Hydrocarbons which, after adjustments by Grantee based on Grantee's assessment of risk, can be estimated with reasonable certainty to be recoverable under economic conditions existing at the time of determination. (d) Upon Grantee's election to exercise the option set forth in Section 3(c) above, Grantee shall in good faith generate a proposed revised Schedule 1 to the Conveyance which results, at the time of Grantee's exercise of the option, in a ratio of the Tail Reserves to the Remaining Reserves, greater than, but as near as reasonably possible to, the Required Percentage. Grantee shall present its proposal to Grantor for review and verification that the proposed Schedule complies with the requirements of the foregoing sentence. Grantor and Grantee shall amend the Conveyance to incorporate the amended Schedule 1 immediately following the parties' agreements as to the substance of such Schedule or the determination of the amended Schedule 1 by the independent petroleum engineering firm under Section 3(e), as applicable. (e) In the event Grantor and Grantee are not able to agree upon Grantee's proposed amended Schedule 1 pursuant to Section 3(d) above, the parties shall select an independent petroleum engineering firm to make such a determination of the appropriate Schedules. The fees and expenses of such firm shall be borne equally by Grantor and Grantee. The determination of such firm shall be binding upon Grantor and Grantee. If within 15 days after either party notifies the other that it requests a determination by an independent firm, the parties are unable to agree upon such a firm, each party shall in good faith prepare a list of four independent petroleum engineering firms. Each list shall set forth that party's priority order with the highest priority firm listed first. Each party shall submit its list to the other within five days after the end of the 15 day period provided above. The list shall be compared and the first listed firm appearing in Grantee's list that also appears in Grantor's list shall be the firm used to make such determination. If either party fails to provide a list of that party's recommended firms, such party's list shall not be considered an...
Remaining Reserves means, in relation to the Project and any Calculation Period, the total quantities of Petroleum reserves forecast in the then current Projection to be derived from the Project in that Calculation Period and each subsequent Calculation Period which ends on or before the Field Life End Date for the Huntington Petroleum Field.
Remaining Reserves in relation to any Determination Period, the total quantities of reserves forecast in the then-current Reserves Criteria to be produced from the Borrowing Base Assets in that Determination Period and each subsequent Determination Period which ends on or before the Field Life End Date;
Remaining Reserves. SALE AND PURCHASE AGREEMENT THIS AGREEMENT is entered into effective January 1, 1995, by and among DEVON ENERGY CORPORATION (NEVADA), a Nevada corporation ("Seller"); NS GAS PROPERTIES, INC., a Virginia corporation ("Buyer"); DEVON ENERGY CORPORATION, a Delaware corporation ("Devon Delaware"); NORFOLK SOUTHERN CORPORATION, a Virginia corporation ("Norfolk"); and NORFOLK SOUTHERN PROPERTIES, INC., a Virginia corporation ("Properties"). In consideration of the mutual covenants contained herein and the benefits to be derived by each party hereunder, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties agree as follows: