Oil and Gas Sample Clauses

Oil and Gas. (a) The Company has furnished Parent prior to the date of this Agreement with reports estimating the Company’s and its Subsidiaries’ proved oil and gas reserves as of December 31, 2005, as prepared by the Company and audited by Netherland, Xxxxxx & Associates, Inc. (the “Company Reserve Report”). To the Company’s Knowledge, the factual, non-interpretive data on which the Company Reserve Report was based for purposes of estimating the oil and gas reserves set forth in the Company Reserve Report (and in any supplement thereto or update thereof) was accurate in all material respects. (b) All producing oil and gas xxxxx operated by the Company or its Subsidiaries and included in the Company Oil and Gas Properties have been operated and produced and, to the Knowledge of the Company, drilled, in accordance in all material respects with reasonable, prudent oil and gas field practices and in compliance in all material respects with applicable oil and gas leases and applicable Law. (c) All material proceeds from the sale of Hydrocarbons produced from the Company Oil and Gas Properties are being received by the Company and its Subsidiaries in a timely manner and are not being held in suspense for any reason (except in the ordinary course of business). (d) Except as set forth in Section 3.21 of the Company Disclosure Letter, neither the Company nor any of its Subsidiaries has received any material advance, take-or-pay or other similar payments that entitle purchasers of production to receive deliveries of Hydrocarbons without paying therefor, and, on a net, company-wide basis, the Company is neither underproduced nor overproduced, in either case, to any material extent, under gas balancing or similar arrangements. (e) The Company and its Subsidiaries have Defensible Title to the Company Oil and Gas Properties forming the basis for the reserves reflected in the Company Reserve Report as attributable to interests owned or held by the Company and its Subsidiaries free and clear of all Liens, except for (i) Permitted Liens and (ii) Liens associated with obligations reflected in the Company Reserve Report, if any. The oil and gas leases and other agreements that provide the Company and its Subsidiaries with operating rights in the oil and gas properties reflected in the Company Reserve Report are in full force and effect as to the oil and gas properties reflected in the Company Reserve Report, and the rentals, royalties and other payments due thereunder have been properly...

Oil and Gas. In connection with the mining of any coal on properties where Lessor owns the coal rights and on which there exist any abandoned and/or active oil and gas xxxxx, if Lessor and Lessee mutually agree that it is economically beneficial to mine through any such xxxxx, then Lessor and Lessee agree that each will pay (i) one half of the costs of plugging any abandoned oil or gas xxxxx, and (ii) one half of the costs of plugging, re-drilling and restoring production (including piping relocation) in the case of any active oil and gas xxxxx.

Oil and Gas. (a) Parent has furnished the Company prior to the date of this Agreement with a report estimating Parent’s and its Subsidiaries’ proved oil and gas reserves as of January 1, 2012 as prepared by Xxxxxxx X. Xxxx & Associates, Inc. (the “Parent Reserve Report”). To Parent’s Knowledge, the factual, non-interpretive data on which the Parent Reserve Report was based for purposes of estimating the oil and gas reserves set forth in the Parent Reserve Report (and in any supplement thereto or update thereof) was accurate and complete in all material respects. The Parent Reserve Report conforms in all material respects to the guidelines with respect thereto of the SEC. To Parent’s Knowledge, the gross and net undeveloped acreage of Parent and its Subsidiaries as reported in Parent’s most recent Form 10-K filed with SEC was correct in all material respects as of the date of such Form 10-K. (b) Parent’s (and any relevant Subsidiaries’) internal proved reserve estimates prepared by management for the year ended December 31, 2011, were not, taken as a whole, materially lower than the conclusions in the Parent Reserve Report as of February 7, 2012. Except for changes in Laws (or interpretations thereof) or changes generally affecting the oil and gas exploration, development and production industry (including changes in commodity prices) and normal depletion by production, there has been no change in respect of the matters addressed in the Parent Reserve Report that, individually or in the aggregate, would have a Material Adverse Effect on Parent. (c) All producing oil and gas xxxxx operated by Parent or its Subsidiaries and included in the Parent Oil and Gas Properties have been operated and produced and, to the Knowledge of Parent, drilled, in accordance in all material respects with reasonable, prudent oil and gas field practices and in compliance in all material respects with applicable oil and gas leases and applicable Law. All producing oil and gas xxxxx and related material equipment are in an operable state of repair, adequate to maintain normal operations in accordance with past practices, ordinary wear and tear excepted. (d) All material proceeds from the sale of Hydrocarbons produced from Parent Oil and Gas Properties are being received by Parent and its Subsidiaries in a timely manner and are not being held in suspense for any reason (except in the ordinary course of business). (e) Neither Parent nor any of its Subsidiaries has received any material advance, ta...

Oil and Gas. The Texas Railroad Commission (TRRC) has jurisdiction over oil and gas development activities. Oil and gas operators are also subject to regulation by the Texas Commission on Environmental Quality (TCEQ). The TRRC regulations, in addition to other regulations, establish a statewide standard designed to establish development on a pattern of one well to each 40 acres where proration units have not been established (16 xxxxx/mi2) (16 Texas Administrative Code, Part 1 § 3.37). Exceptions allow closer spacing. There are also TRRC regulations establishing standards for the cleanup of oil spills and the management of plugged and abandoned xxxxx that are designed to protect the environment and human health. TRRC also has authority over intrastate pipelines. No prior approval is required for pipeline construction. Test waters for pipeline integrity are often associated with compressor stations and require a water discharge permit for disposal from the TCEQ. The 2020 DSL CCAA offers the ability to bring substantial acres of DSL Habitat on private lands into conservation, generate sustainable revenue to fund conservation and scientific study under the plan, and minimize the overall disturbance from oil and gas development.

Oil and Gas. There is one existing oil and gas pipeline on the Community Forest that is operated by Pacific Northern Gas. As well, there are three proposed pipelines operated by Pacific Trails Pipeline, TransCanada Coastal, and Enbridge. We have agreements in place for the Pacific Trails Pipeline and TransCanada Coastal. We will continue to develop agreements with oil and gas companies for the pipelines active and proposed on the Community Forest.

Oil and Gas. (a) The Company has defensible title to its Oil and Gas Leases and, in no event, less than eighty-five percent (85%) of the total present value of the Oil and Gas Leases evaluated in the report of XxXxxxx Petroleum Consultants, Ltd. dated as of January 18, 2019 (the “Reserve Report”), and good title to all its material personal oil and gas assets in each case, free and clear of all encumbrances other than the Liens and such other encumbrances granted in favor of the secured parties under the Prepetition Credit Agreements (as defined in the RSA), including the Supporting Term Lenders, the Supporting RBL Lenders and the Prepetition Agents (as defined in the RSA) or Permitted Liens. (b) (i) All rentals, royalties, overriding royalty, hydrocarbon production payments, and other payments due and payable by the Company under or with respect to the Oil and Gas Leases, have been paid or are being held in suspense in the ordinary course of business, and (ii) the Company is not obligated under any contract for the sale of hydrocarbons from the Oil and Gas Leases containing a take-or-pay, advance payment, prepayment, or similar provision (except where the failure to satisfy either or both of (i) and (ii) would not individually, or in the aggregate, have a Material Adverse Effect). (c) There is no outstanding authorization for expenditure or other commitment to make capital expenditures with respect to any oil and gas assets which the Company reasonably anticipates will individually require expenditures net of interest in excess of $250.0 million, except as already disclosed to the Backstop Parties.

Oil and Gas. Coastal First Nations Great Bear Initiatives Society LNG Benefits Agreement 86 61. Metlakatla LNG Coastal Fund Benefits Agreement 88 62. Petroleum Conjunctive Indigenous Land Use Agreement 90

Oil and Gas. Contribute to the decarbonisation of the oil and gas sector, with a view to reduce the emissions of carbon and environmental impact, by using, e.g, public policies that encourage the assessment of emissions in the lifecycle in order to properly measure them and harnessing of low carbon technologies such as carbon capture and storage (CCS), wind, solar, hydrogen (blue/green) and biogas;

Oil and Gas. (a) As of the date of this Agreement, Target Company has no oil or gas production. Target Company has not entered into any agreement or accepted any payment regarding the sale of any Petroleum Substances. (b) The Target Company has no third party reports containing information contrary to the information set forth in the report prepared by Xxxxxxx Associates Limited dated as of June 30, 2006, and delivered by Target Company to Purchaser for review. The Target Company has no third party reports estimating or evaluating Target Company’s oil or gas reserves or undeveloped lands. (c) All rentals, royalties and other payments payable by Target Company have been properly and timely paid and there is no existing default (or event that, with notice or lapse of time or both, would become a default) under any oil and gas leases or other agreements, except, in each case, as individually or in the aggregate has not had, and would not be reasonably likely to have or result in, a Material Adverse Effect on Target Company.

Oil and Gas. (a) Surge has no oil or gas production and has not entered into any agreement or accepted any payment regarding the sale of any Petroleum Substances. (b) Surge has no report estimating proved oil and gas reserves of Surge. (c) All rentals, royalties and other payments payable by Surge have been properly and timely paid and there is no existing default (or event that, with notice or lapse of time or both, would become a default) under any oil and gas leases or other agreements, except, in each case, as individually or in the aggregate has not had, and would not be reasonably likely to have or result in, a Material Adverse Effect on Surge. (d) All equipment, personal property, fixtures and real property improvements included in Surge’s assets, including all gathering lines, pipelines, meter stations, compressors and compressor stations, valves, pumps, tanks and other equipment, are in operable state adequate to maintain normal operations in a manner consistent with the past practices of Surge. Surge has title to or an interest in its respective personal property sufficient to allow Surge to conduct its business, as currently being conducted, without material adverse interference.