Oil and Gas and Oil and Gas Equipment Sample Clauses

Oil and Gas and Oil and Gas Equipment. With 28.4 bn cubic metres of proven oil reserves in 2005, Canada's reserve base of crude oil is the second largest in the world and only surpassed by that of Saudi Arabia. Canada is the third largest producer of natural gas and the ninth largest producer of crude oil. Canada is also one of the largest exporters of elemental sulphur in the world. Domestic manufacturing revenues in 2005 amounted to CND 13.9 bn, while service revenues were CND 55.5 bn. Contract drilling revenues in 2004 amounted to CND 11.3 bn. The industry employs a significant number of people with 47’000 employed in manufacturing, 120’000 in services and another 52’000 in contract drilling. Alberta is the primary concentration for all three sub-sectors of the industry, with about 78% of business coming from that province. Manufacturers with revenues over CND 100 mn are primarily active in the manufacturing of drilling equipment. Service firms of the same size are mainly engaged in engineering and geomatics services. All three sub-sectors expect near or greater than double digit growth in the coming years. Manufacturers are expecting growth at 9%, while services and contract drillers are expecting growth at about 12.7%. The top three export markets for manufacturing and services are the same, with the United States ranked first, the United Kingdom second and Russia third. Contract drillers focus primarily on domestic operations. In 2005, 61% of firms imported equipment at a value range of up to CND 500’000. Another 20% imported within the range of CND 5 to 100 mn, and accounting for all imports, the total value was estimated at CND 1.7 bn. In 2005, domestic revenues for the oil and gas industry were CND 69.3 bn; services account for CND 55.5 bn, and manufacturing, CND 13.8 bn. Exports and foreign production generate another CND 55 bn in revenues, for a total of CND 124.3 bn in global industry revenues. Global industry employment86 by Canadian firms reached 240’000. Domestic levels of employment were 168’000 in total, with 48’000 in manufacturing and 120’000 in services.
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Related to Oil and Gas and Oil and Gas Equipment

  • Environmental Attributes Seller acknowledges and agrees that any Environmental Attribute associated with or related to the Product will not be sold or otherwise made available to a third party but will be sold to Buyer pursuant to this Agreement. For the avoidance of doubt, the Product sold hereunder must meet the definition of “renewable energy credit” under the IPA Act.

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  • Leased Real Property Section 3.13(b) of the Company Disclosure Letter contains a true, correct and complete list of (i) all of the real property that is leased, subleased, licensed or otherwise used or occupied by, the Company or any of its Subsidiaries (such property, the “Leased Real Property”) and (ii) all leases, subleases, licenses or other Contracts pursuant to which the Company or its Subsidiaries use or occupy, or have the right to use or occupy, now or in the future, such Leased Real Property (each, a “Lease”). The Company has made available to Parent true, correct and complete copies of all Leases (including all material modifications, amendments and supplements thereto), and in the case of any oral Lease, a written summary of the material terms of such Lease. The Company and/or one of its Subsidiaries, as the case may be, have and own good, valid and subsisting leasehold interests in the Leased Real Property under each Lease, subject to proper authorization and execution of such Lease by the other party thereto and Permitted Liens, except in each case, as enforcement may be limited by the Enforceability Limitations, except as would not, individually or in the aggregate, have a Company Material Adverse Effect. With respect to each Lease and except as would not, individually or in the aggregate, have a Company Material Adverse Effect or materially and adversely affect the current use by the Company or its Subsidiaries of the Leased Real Property, (i) each Lease is in full force and effect and a valid, binding and legally enforceable obligation of the Company or its applicable Subsidiary, as the case may be, and, to the Knowledge of the Company, the other parties thereto (except in each case as may be limited by the Enforceability Limitations); (ii) each Lease has not been amended or modified in any material respect except as reflected in the modifications, amendments, supplements and side letters thereto made available to Parent; (iii) there is no existing material default or event of default by the Company or any of its Subsidiaries or, to the Knowledge of the Company, any other party thereto, under any Lease (iii) to the Knowledge of the Company, there are no disputes with respect to any Lease; (iv) neither the Company nor any of its Subsidiaries has collaterally assigned or granted any other security interest in such Lease or any interest therein; and (v) there are no Liens (other than Permitted Liens) on the estate or interest created by such Lease. The Leased Real Property is in all material respects in good operating condition and in a state of good and working maintenance and repair, ordinary wear and tear excepted, and is adequate and suitable for its current uses and purposes. There are no physical conditions or defects on any part of the Leased Real Property that would materially impair or would be reasonably expected to materially impair the continued operation of the business of the Company and its Subsidiaries as presently conducted at such Leased Real Property.

  • Real Property (a) The Company does not own any real property.

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