Monthly Field Activity Reports. Borrower shall compile a comprehensive listing of operations occurring on the Properties during the relevant Reported Quarter including: (a) a reconciliation of actual capital costs incurred to corresponding AFEs, and (b) an updated Well status list showing zones completed and fracked in each active Well. Borrower shall also compile and maintain a record, for each Reported Quarter, of the monthly Natural Gas production and sales and Crude Oil Production Volumes for all Well completions included in the Properties during the relevant Reported Quarter. Borrower shall report such monthly sales and production data within 21 days following the end of each Reported Quarter in a form acceptable to Lender and deliver reports by e-mail to recipients designated by Lender. In the case of Natural Gas, the sales volumes will be based on the integration of the charts recorded by the lease “check” meter located downstream of the processing equipment and immediately upstream of the sales delivery point. Where production from multiple completions is combined upstream of measurement equipment, Borrower will estimate sales volumes for the individual completions using an appropriate allocation methodology.
Monthly Field Activity Reports. Each Borrower shall, or if any Borrower is not the Operator of said Lease, use commercially reasonable efforts to cause, Operator to maintain a table of all monthly Natural Gas and Crude Oil production volumes (historical and current) for all existing and future Well completions by Borrowers. Such table will be supplied by electronic mail to designated representatives of Lender, in a digital format acceptable to Lender, within twenty-one (2 1 ) days following the end of each production month. In the case of Natural Gas, the estimated aggregated monthly production volumes should be based on the Integration of the charts recorded by the lease “check” meter located downstream of the processing equipment and immediately upstream of the sales delivery point. Any allocation of production among completions should be documented as described above for the daily production table. Each Borrower shall supply a report reconciling Hydrocarbon Production Volumes (as measure by the lease equipment) to sales volumes (reported by the Purchasers) for each Borrower’s existing and Future Well or Lease. Such table will be supplied by e-mail to designated representatives of Lender, in a Format acceptable to Lender, within ninety (90) days following the end of each production month. The obligations of each Borrower with respect to the form and substance of reports in this Section are limited to each Borrower’s commercially reasonable efforts where any Borrower is not the Operator.
Monthly Field Activity Reports. Borrower shall compile and maintain a record of all current and historical monthly Natural Gas and Crude Oil production volumes for all existing and future Well completions by Borrower. Borrower shall report monthly production data with respect to the Properties within 21 days following the end of each production month in a form acceptable to Administrative Agent and deliver reports by e-mail to recipients designated and employed by Administrative Agent. In the case of Natural Gas, the monthly production volumes will be based on the integration of the charts recorded by the lease “check” meter located downstream of the processing equipment and immediately upstream of the sales delivery point. Where production from multiple completions is combined upstream of measurement equipment, Borrower will estimate production volumes for the individual completions based on allocations Approved by Administrative Agent in its reasonable discretion, and the report will include the raw metered data, explanatory notes and formulas related to the allocation methodology along with the resulting allocated volumes. The monthly production report will also include a reconciliation of the Hydrocarbon Production Volumes (as measured by the lease equipment) to sales volumes (reported by the Purchasers) for each of Borrower’s existing and future Wxxxx or Leases.
Monthly Field Activity Reports. Borrower shall maintain a table of all monthly Natural Gas and Crude Oil production volumes (historical and current) for all existing and future Well completions by Borrower. Such table will be supplied by electronic mail to Administrative Agent, in a digital format acceptable to Administrative Agent, within twenty-one (21) days following the end of each production month. In the case of Natural Gas, the monthly production volumes should be based on the integration of the charts recorded by the lease “check” meter located downstream of the processing equipment and immediately upstream of the sales delivery point. Any allocation of production amongst completions should be documented as described above for the daily production table. Borrower shall also supply a report reconciling Hydrocarbon Production Volumes (as measured by the lease equipment) to sales volumes (reported by the Purchasers) for each of Borrower’s existing and future Well or Lease. Such table will be supplied by e-mail Administrative Agent, in a format acceptable to Administrative Agent, within twenty-one (21) days following the end of each production month.
Monthly Field Activity Reports. Borrower shall compile and maintain a record of substantially all current and historical monthly Natural Gas and Crude Oil production volumes for all existing and future Well completions by Borrower. Borrower shall report monthly production data with respect to the Properties within 45 days following the end of each production month in a form acceptable to Administrative Agent (acting at the direction of the Required Lenders) and deliver reports by e-mail to recipients designated and employed by the Administrative Agent and the Lenders. In the case of Natural Gas, the monthly production volumes will be based on the integration of the charts recorded by the lease “check” meter located downstream of the processing equipment and immediately upstream of the sales delivery point. Where production from multiple completions is combined upstream of measurement equipment, Borrower will estimate production volumes for the individual completions based on allocations Approved by Administrative Agent (acting at the direction of the Required Lenders) in its reasonable discretion, and the report will include the raw metered data, explanatory notes and formulas related to the allocation methodology along with the resulting allocated volumes. The monthly production report will also include a reconciliation of the Hydrocarbon Production Volumes (as measured by the lease equipment) to sales volumes (reported by the Purchasers) for each of Borrower’s existing and future Xxxxx or Leases
