Common use of Cost Recovery Oil Clause in Contracts

Cost Recovery Oil. 7.2.1 After deducting Royalties, the Contractor shall be entitled to up to [insert number] percent ([insert number]%) of the Total Disposable Production remaining in any Calendar Year for recovery of its Petroleum Operations Costs (Cost Recovery Oil). 7.2.2 The value of the portion of Total Disposable Production assigned to the Contractor’s Petroleum Operations Costs recovered will be determined in accordance with Article 10. 7.2.3 If, during any Calendar Year, the Petroleum Operations Costs not yet recovered by the Contractor in accordance with this Contract exceed the value of the maximum amount of available Cost Recovery Oil, the portion of Petroleum Operations Costs not recovered in the said Year will be carried forward to the following Calendar Year for recovery purposes.

Cost Recovery Oil. 7.2.1 After deducting Royalties, the Contractor shall be entitled to up to [insert number] seventy percent ([insert number]%70%) of the Total Disposable Production remaining in any Calendar Year for recovery of its Petroleum Operations Costs (Cost Recovery Oil). 7.2.2 The value of the portion of Total Disposable Production assigned to the Contractor’s Petroleum Operations Costs recovered will be determined in accordance with Article ‎Article 10. 7.2.3 If, during any Calendar Year, the Petroleum Operations Costs not yet recovered by the Contractor in accordance with this Contract exceed the value of the maximum amount of available Cost Recovery Oil, the portion of Petroleum Operations Costs not recovered in the said Year will be carried forward to the following Calendar Year for recovery purposes.