Common use of Disposition of Production Clause in Contracts

Disposition of Production. (a) As provided in Sec• tion 27(a)(2) of the Act, the Lessor shall have the right to purchase not more than 16-2/3 percent by volume of the oi l and gas produced pursuant to the lease at the regulated price, or i f no regulated price applies, at the fair market value at the well head of the oil and gas saved, removed, or sold, except that any oil or gas obtained by the Lessor as royalty or net profit share shall be credited against the amount that may be purchased under this subsection.

Disposition of Production. (a) As provided in Sec• Sec- tion 27(a)(2) of the Act, the Lessor shall have the right to purchase not more than 16-2/3 percent by volume of the oi l oil and gas produced pursuant to the lease at the regulated price, or i f if no regulated price applies, at the fair market value at the well head of the oil and gas saved, removed, or sold, except that any oil or gas obtained by the Lessor as royalty or net profit share shall be credited against the amount that may be purchased under this subsection.

Disposition of Production. (a) As provided in Sec• tion 27(a)(2) of the Act, the Lessor shall have the right to purchase not more than 16-2/3 percent by volume of the oi l oil and gas produced pursuant to the lease at the regulated price, or i f if no regulated price applies, at the fair market value at the well head of the oil and gas saved, removed, or sold, except that any oil or gas obtained by the Lessor as royalty or net profit share shall be credited against the amount that may be purchased under this subsection.

Disposition of Production. (a) As provided in Sec• tion 27(a)(2) of the Act, the Lessor shall have the right right-( to purchase not more than 16-2/3 percent by volume of the oi l oil and gas produced pursuant to the lease at the regulated price, or i f no regulated price applies, at the fair market value value/at the well head of the oil and and, gas saved, removed, or soldSold, except that any oil or gas obtained by the Lessor as royalty asvtfoyalty or net profit share shall be credited against the amount that may be purchased under this subsection.