Average daily production definition

Average daily production of a well means the qualified maximum total production of oil from the well during a calendar month period divided by the number of calendar days in that period, and "qualified maximum total production" of a well means that the well must have been maintained at the maximum efficient rate of production as defined and determined by rule adopted by the industrial commission in furtherance of its authority under chapter 38-08.

Average daily production of a well means the qualified maximum total production of

Average daily production means the qualified maximum total production of domestic crude petroleum and petroleum condensates, including natural gas liquids produced from a property or lease during the preceding calendar year divided by the number of calendar days in that year times the number of wells which produced and wells which injected substances for the recovery of crude petroleum and petroleum condensates, including natural gas liquids from that property or lease in that year. To qualify as maximum total production, each well must have been maintained at the maximum feasible rate of production in accordance with recognized conservation practices and not significantly curtailed by reason of mechanical failure or other disruption in production.

Examples of Average daily production in a sentence

• However, in conjunction with his authority under KSA 75-5105a and 79-506, the Director of Property Valuation is providing the following guidelines for exemption of low producing wells: Average daily production per well is defined as annual production divided by 365 days divided by the number of producing wells; or, in the case of new leases, actual production divided by the number of actual days produced divided by the number of producing wells.

• Average daily production does not include production resulting from secondary or tertiary processes to which gross income from the property is attributable before Jan- uary 1, 1984.

• If the distributed energy resource will operate only in the event of an outage, please enter zero. Average daily production in the event of a major power outage: Please estimate the amount of electricity (in MWh per day) that each distributed energy resource is likely to produce, on average, in the event of a major power outage.

• Average daily production for a period of 12 consecutive months is calculated from a formula that computes average natural gas production per day divided by the marginal well depth.

• Average daily production stood at 2.36 million barrels per day in the third quarter mainly due to operational constraints experienced by some of the oil producing companies during this period.

More Definitions of Average daily production

Average daily production means air dried tons of unbleached pulp produced in a month, divided by the number of days of production in that month.

Average daily production means, for any crude oil or natural gas property assigned a single production number by the department, the number derived by dividing the total volume of crude oil or natural gas production from the property reported to the division during a calendar year by the sum of the number of days each eligible well within the property produced or injected during that calendar year;

Average daily production means the Company’s average daily production during the month of December prior to the applicable fiscal year, measured in barrels of oil equivalent (BOE) per day, adjusted to include deemed production from any producing well that is unable to produce due to events beyond the reasonable control of the Company (in an amount equal to its most recent fully productive day).

Average daily production means the average amount of oil produced daily from a well, as determined by Section 475.115.

Average daily production means stabilized production divided by three hundred sixty-five, provided the

Average daily production means the yearly average production from a well or facility on a producing day basis. has the same meaning as in Subsection A of 19.15.6.7 NMAC.

Average daily production of a well means the qualified maximum total production of oil from the well during a calendar month period divided by the number of calendar days in that period; and "qualified maximum total production" of a