Quarterly Production Reports. As soon as available and in any event within forty-five (45) days after the end of each fiscal quarter of Borrowers, a quarterly production report, in form and substance satisfactory to the Agent, indicating the sales volumes, sales revenues, production taxes, operating expenses and net operating income from the Oil and Gas Properties, with detailed, calculations and worksheets, all in form and substance reasonably satisfactory to the Agent;
Quarterly Production Reports. Within 30 days of the end of each quarter, Licensee and each Sublicensee shall deliver to Interline a Production Report accurately setting forth the number of litres of Used Oil (and other materials, if any) processed by each Unit each day during the quarter. The Production Report shall also state the kinds and quantities of Finished Products produced by each Unit during the quarter. This report shall be provided to Interline with the Royalty Settlement Statement of Paragraph 6.7.
Quarterly Production Reports. Within 45 days after the end of each calendar quarter, Manager will provide the Board with a production report containing a summary of production from or attributable to the Properties and a summary of operations on the Properties, together with a summary of any significant issues, including an analysis of any material variations from the Annual Budget.
Quarterly Production Reports. Beginning with the first calendar quarter following the Completion Date of each Oil Sands Plant and for each ensuing calendar quarter (each such quarter being a “Reporting Quarter”), Licensee shall deliver to Petroteq, within thirty (30) days after the end of each Reporting Quarter, a Quarterly Production Report for each such Plant. Each Quarterly Production Report generated and delivered to Petroteq for each Oil Sands Plant shall contain or include, for and during the Reporting Quarter, the following information and data:
(1) The quantity or volume of each Licensed Product (described separately) produced at or from the Plant during the Reporting Quarter;
(2) The quantity or volume of each Licensed Product sold or otherwise disposed of during the Reporting Quarter, together with the price at which each such Licensed Product was sold (or disposed of), the Gross Revenue received or paid to Licensee for each Licensed Product (or that would be paid by the purchaser thereof prior to deductions for taxes, transportation costs or other agreed upon expenses) and the costs, expenses and other permitted deductions (if any) applied or used by Licensee in determining the “Net Revenue” received by Licensee for and with respect to each such Licensed Product, including the exchange rates used for any conversion or adjustments to U.S. Dollars;
(3) The License Production Royalty payable to Petroteq from and based on the sale (or other disposition) of Licensed Products during each Reporting Quarter, together with a description of the costs, expenses and permitted deductions (if any) used in calculating the Net Revenue received by Licensee and the License Production Royalty payable to Petroteq for or with respect to each such Licensed Product; and
(4) A description of the “Credits” generated by Base License Fees previously paid to Petroteq, subject to the two (2)-year limitation on the use of such Credits, that have been applied by Licensee to reduce the License Production Royalty payable to Petroteq for or with respect to each Licensed Product; and
(5) Such other information and data as may be reasonably required by Petroteq from time to time that relates or otherwise will contribute to a full and complete accounting of all Licensed Products produced from each Oil Sands Plant during each Reporting Quarter, the calculation of the Net Revenue received by Licensee during such Reporting Quarter, and the License Production Royalty owed or payable to Petroteq for or with respect ...
Quarterly Production Reports. As soon as available and in any event not later than the forty-fifth (45th) day following the end of each quarter, internally prepared production reports showing for each of the Mortgaged Properties on a lease-by-lease or unit basis for the quarter covered thereby all production of oil, gas and other hydrocarbons therefrom during the subject quarter, all proceeds received during the subject quarter from the sale of production from such properties, all expenses and taxes incurred during the subject quarter attributed to such properties, a description of all material operations conducted on such properties since the last quarterly report (including the number of wxxxx drilled, operated or abandoned), and such other information as Administrative Agent may reasonably request.
Quarterly Production Reports. 6.1. For each calendar quarter during the term of this Agreement (each such quarter being a “Reporting Quarter”), Valkor shall deliver to Petroteq, within thirty (30) days after the end of each Reporting Quarter, a report (each a “Quarterly Production Report”) that, for and with respect such Reporting Quarter, sets forth the following:
6.1.1. The quantity of oil-bearing ore and sediments mined, extracted and produced from each of the Leases and transported or delivered to the Plant;
6.1.2. The quantity of crude oil, synthetic oil, bitumen oil and other petroleum products (collectively “Oil Products”) produced, saved and sold at and from the Plant, identifying separately the volume of Oil Products in storage and the volume of Oil Products that has been sold and delivered to purchasers;
6.1.3. The quantity or volume of feedstocks, solvents, and other chemicals: (a) purchased or acquired by Valkor; and (b) used, recycles or consumed in operations at the Plant; and
6.1.4. The gross proceeds derived from and received by Valkor from the sale of Oil Products to purchasers, together with: (a) the amount of any production-related, sales or value added taxes imposed on or with respect to the Oil Products produced or sold from the Plant; and (b) the amount of any transportation taxes incurred and paid by Valkor that are attributable to the sale or other disposition of Oil Products sold at or from the Plant (or debited against the proceeds derived from the sale of such Oil Pro ducts) . In the event that, during any Reporting Quart er, the Oil Products produced and sold from the Plant were derived from mined ores or sediments from more than one Lease, the reported production and sale of Oil Products shall be allocated to such Leases in proportion to the volume of mined ore or sediments contributed by each Lease to such Oil Products produced, saved and sold from the Plant during such Reporting Quarter.
6.2. Each Quarterly Production Report delivered to Petroteq shall be certified by Valkor or the preparer of the report as true, correct and complete in all material respects. If, during any Reporting Quarter, no production or sale of Oil Products from the Plant has occurred, or if no proceeds from the sale or other disposition of Oil Products has been received by Valkor, the Quarterly Production Report generated with respect to such Reporting Quarter shall so state.
Quarterly Production Reports. Within forty-five (45) days after the end of each fiscal quarter, a report setting forth for each month in the fiscal quarter, in form and substance satisfactory to Agent, indicating the immediately preceding fiscal quarter's sales volume, sales revenues, production taxes, operating expense and net operating income from or attributable to the Oil and Gas Properties, and any material gas balance liabilities of the Borrowers (or any of them), with detailed calculations and worksheets, and, in the case of take or pay or prepayment agreements during such fiscal quarter, provide copies of the same, all in form and substance satisfactory to Agent;
Quarterly Production Reports as soon as available and in any event within 60 days after the end of each fiscal quarter in each fiscal year of the Borrower, a quarterly production tracking report pertaining to the Borrowing Base properties on a well by well basis in form acceptable to the Agent's Oil and Gas Appraisal Department, including production volumes and revenue and expense statements. This information may be provided as a part of the Borrower's Form 10-Q.
Quarterly Production Reports. Within forty-five (45) days after the end of each quarter, a report setting forth for each month in the quarter, in form and substance satisfactory to the Agent, indicating the immediately preceding quarter's sales volume, sales revenues, production taxes, operating expense and net operating income from or attributable to the Oil and Gas Properties, and any material gas balance liabilities of either Borrower, with detailed calculations and worksheets, and, in the case of take or pay or prepayment agreements during such quarter, provide copies of the same, all in form and substance satisfactory to Agent;
Quarterly Production Reports. At the Administrative Agent's written request (but not more frequently than quarterly) Borrowers shall furnish to the Administrative Agent as soon as practicable and in any event within thirty (30) days after such written request, a production report and an expense report for such quarter, certified by Middle Bay's chief financial officer as being true, correct and complete, showing on a well by well basis (i) the gross proceeds from the sale of Hydrocarbons produced from the Mortgaged Property (including additional properties mortgaged subsequent to the Closing pursuant to Section 4.2 above) owned by Borrowers, (ii) the severance, production and gathering taxes deducted from or paid from the proceeds, (iii) the Adjusted Gross Proceeds, (iv) the quantity of Hydrocarbons produced and sold and the number and identity of wellx xxxrated, drilled or abandoned, and (v) for each of the wellx xxxh operating and other expense and net income information pertaining to the Mortgaged Property owned by Borrowers as the Administrative Agent may request or specify including, without limitation, a listing of material royalty liabilities and obligations on a well by well basis.
