Reduction and Termination of Reserve. (a) In the event that the Grantor determines, acting reasonably and in accordance with prudent oil and gas industry practices, that the Reserve contains an amount that is in excess of its reasonably foreseeable requirements, the Grantor may withdraw such amount from the Reserve, and include such amount in Production Revenues for the period during which it is withdrawn.
Appears in 4 contracts
Samples: Royalty Agreement, Royalty Agreement (Paramount Energy Trust), Royalty Agreement (Paramount Energy Trust)
