Common use of Production Bonuses Clause in Contracts

Production Bonuses. The Contractor will pay the State the following amounts as Production Bonuses: (a) two and one half million Dollars ($2.5MM) on the date Production of Crude Oil begins from a Development and Production Area; (b) two and one half million Dollars ($2.5MM) when daily Production from a Development and Production Area first averages twenty thousand(20,000) Barrels per day for a period of sixty (60) consecutive days; (c) two and one half million Dollars ($2.5MM) when daily Production from a Development and Production Area first averages forty thousand (40,000) Barrels per day for a period of sixty (60) consecutive days; (d) four million Dollars ($4MM) when daily Production from a Development and Production Area first averages sixty thousand(60,000) Barrels per day for a period of sixty (60) consecutive days; (e) six million Dollars ($6MM) when daily Production from a Development and Production Area first averages one hundred and twenty thousand (120,000) Barrels per day for a period of sixty (60) consecutive days; and These payments will be made within thirty (30) days of the date that the obligation is generated.

Production Bonuses. The Contractor will pay the State the following amounts as Production Bonuses: (a) two and one half million Dollars ($2.5MM...MM) on the date Production of Crude Oil begins from a Development and Production Area; (b) two and one half million Dollars ($2.5MM...MM) when daily Production from a Development and Production Area first averages twenty thousand(20,000…(…) Barrels per day for a period of sixty (60) consecutive days; (c) two and one half million Dollars ($2.5MM...MM) when daily Production from a Development and Production Area first averages forty thousand … (40,000…) Barrels per day for a period of sixty (60) consecutive days; (d) four million Dollars ($4MM...MM) when daily Production from a Development and Production Area first averages sixty thousand(60,000…(…) Barrels per day for a period of sixty (60) consecutive days; (e) six million Dollars ($6MM...MM) when daily Production from a Development and Production Area first averages one hundred and twenty thousand … (120,000…) Barrels per day for a period of sixty (60) consecutive days; and These payments will be made within thirty (30) days of the date that the obligation is generated.

Production Bonuses. The Contractor will shall pay to the State the following amounts sums as Production Bonusesbonuses: (a) two and one half million Dollars ($2.5MM) on the date of start Production of Crude Oil begins from a Development and Production Area, two million Dollars ($2,000,000); (b) two and one half million Dollars ($2.5MM2,000,000) when after daily Production from a Development and Production Area first averages twenty thousand(20,000) 20,000 Barrels per day for a period of sixty (60) consecutive days; (c) two and one half three million Dollars ($2.5MM3,000,000) when after daily Production from a Development and Production Area first averages forty thousand (40,000) 40,000 Barrels per day for a period of sixty (60) consecutive days; (d) four five million Dollars ($4MM5,000,000) when after daily Production from a Development and Production Area first averages sixty thousand(60,000) Barrels per day for a period of sixty (60) consecutive days; (e) six million Dollars ($6MM) when daily Production from a Development and Production Area first averages one hundred and twenty thousand (120,000) 60,000 Barrels per day for a period of sixty (60) consecutive days; and (e) six million Dollars ($6,000,000) after daily Production from a Development and These Production Area first averages 120,000 Barrels per day for a period of sixty (60) consecutive days. Such payments will shall be made within thirty (30) days of the date that the obligation is generatedliability accrues.

Production Bonuses. The Contractor will pay the State the following amounts as Production Bonuses: (a) two and one half three million Dollars ($2.5MM3MM) on the date Production of Crude Oil begins from a Development and Production Area; (b) two and one half three million Dollars ($2.5MM3MM) when daily Production from a Development and Production Area first averages twenty thousand(20,000thousand (20,000) Barrels per day for a period of sixty (60) consecutive days; (c) two and one half five million Dollars ($2.5MM5MM) when daily Production from a Development and Production Area first averages forty thousand (40,000) Barrels per day for a period of sixty (60) consecutive days; (d) four five million Dollars ($4MM5MM) when daily Production from a Development and Production Area first averages sixty thousand(60,000thousand (60,000) Barrels per day for a period of sixty (60) consecutive days; (e) six five million Dollars ($6MM5MM) when daily Production from a Development and Production Area first averages one hundred and twenty thousand (120,000) Barrels per day for a period of sixty (60) consecutive days; and These payments will be made within thirty (30) days of the date that the obligation is generated.