Acquisition Reserve Report means a Hydrocarbon reserve report made available to the NPI Partnership prepared by a qualified independent petroleum engineering firm acceptable to the Managing Partner in connection with the proposed acquisition of a Net Profits Interest or Royalty, which shall include statements (i) identifying reserves of Hydrocarbons referred to in such report as Proved Developed Producing Reserves, Proved Developed Non-Producing Reserves or Proved Undeveloped Reserves, as the case may be, and identifying all computations and determinations made for purposes of such report, including, without limitation, the present and future prices for Hydrocarbons and the present and future costs to produce and develop such Hydrocarbons used in such computations and determinations, (ii) with respect to the determination of the nature and extent of the reserves of Hydrocarbons reflected in such report, that the collection, analysis and evaluation of the basic physical data upon which such determination is based were performed by such qualified petroleum engineering firm or if such data were collected by another Person, that such qualified petroleum engineering firm has made inquiry with respect to the methods employed in such collection, (iii) specifying the respective amounts of Proved Developed Producing Reserves, Proved Developed Non-Producing Reserves, or Proved Undeveloped Reserves contained therein, and (iv) indicating such qualified petroleum engineering firm's opinion as to the respective estimated present values of future net revenues of each category of reserves contained therein determined in accordance with criteria satisfactory to the Managing Partner and otherwise in accordance with sound engineering and industry practices, including such standards and practices as may be promulgated by the Society of Petroleum Engineers of the American Institute of Mining and Metallurgical Engineers. Any such report may state that such qualified petroleum engineering firm expresses no opinion and makes no warranty or representation with respect to the proposed acquisition of such Net Profits Interest or Royalty and that such qualified petroleum engineering firm is relying on information furnished by the Managing Partner as to the historical volumes of any Hydrocarbons actually produced and as to the proposed ownership interest of the NPI Partnership in such Net Profits Interest or Royalty.
Acquisition Reserve Report means a Reserve Report prepared by Xxxxx Xxxxx Company Petroleum Consultants, L.P. (or other independent petroleum engineer reasonably acceptable to the Administrative Agent) evaluating the Proved Reserves of SilverBow and its Subsidiaries as of May 1, 2024 (or such later date as may be reasonably agreed by the Borrower and Administrative Agent).
Acquisition Reserve Report means the “Acquisition Reserve Report” as defined in the First Amendment.
Examples of Acquisition Reserve Report in a sentence
The Administrative Agent shall have received the Acquisition Reserve Report.
More Definitions of Acquisition Reserve Report
Acquisition Reserve Report means (a) the report of Xxxxxxxx & XxxXxxxxxxx dated as of December 31, 2006, with respect to the Acquisition Properties and (b) the unaudited Reserve Report dated July 1, 2007 evaluating the Acquisition Properties.