BPO Working Interest definition

BPO Working Interest means the Working Interest before payout is achieved in accordance with the Payout Computation Procedures.
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Examples of BPO Working Interest in a sentence

  • Each BPO Working Interest Owner agrees to execute the Payout Acknowledgement and deliver it to BDLLC within 10 days of its receipt, unless such BPO Working Interest Owner has an objection to the Final Payout Report, in which case, the BPO Working Interest Owner shall execute the Payout Acknowledgement and deliver it to BDLLC within 10 days following resolution of its objections.

  • Each ▇▇▇▇▇▇▇▇ Field Owner shall also be responsible for paying its proportionate share of all costs and expenses of the Development Plan that exceed the Estimated Development Plan Costs, as applicable (the “Cost Overages”), based on each Party’s BPO Working Interest.

  • In the event that the Parties determine that BDLLC or SMG owned any right, title or interest in the Area of Mutual Interest as of the date of this Agreement, other than its right, title and interest in the ▇▇▇▇▇▇▇▇ Field (an “AMI Interest”), BDLLC or SMG, as applicable, shall take any and all actions necessary to transfer the AMI Interest to the Parties in the same proportion as each Party’s BPO Working Interest and such AMI Interests shall become part of the ▇▇▇▇▇▇▇▇ Field for purposes of this Agreement.

  • If a BPO Working Interest Owner does not make a timely objection to a Payout Report or Revised Payout Report as provided above, the Payout Report, or Revised Payout Report, furnished by BDLLC shall be final and binding for the purposes of determining whether Payout has been met for such BPO Working Interest Owner.

  • Each Payout Report will contain a calculation of the BPO Working Interest Owner’s Net Return on Investment for such calendar quarter and for the period from the Closing Date through the end of that calendar quarter.

  • In its discretion, BDLLC may furnish Payout Reports to the BPO Working Interest Owners as frequently as monthly.

  • Any objection made to a Payout Report made by a BPO Working Interest Owner must be accompanied by supporting documentation showing support for such BPO Working Interest Owner’s objection.

  • RSE $3,811,262.85 True Energy $476,407.86 Royal Energy $476,407.86 ▇▇▇▇▇▇▇▇ Oil $88,855.88 JRC Trust $148,093.13 Salbertson $59,237.25 Green $7,404.79 ▇▇▇▇▇ $207,330.38 SMG $0.00 The Former BDLLC Members shall be treated as paying their pro rata share of any Firm Capital Commitments paid by BDLLC prior to the date of this Amendment based on each such Former BDLLC Member’s BPO Working Interest compared to the aggregate BPO Working Interest of all the Former BDLLC Members.

  • This procedure shall continue until BDLLC and the objecting BPO Working Interest Owner agree that a Revised Payout Report is final or the BPO Working Interest Owner fails to timely object to a Revised Payout Report as required by this Section.

  • For purposes of this Agreement, “Net Return on Investment” shall mean the cumulative cash received by any BPO Working Interest Owner from the sale of Oil and Gas production from the ▇▇▇▇▇▇▇▇ Field net of any operating expenses, severance taxes, equipment costs, fees, commissions, work over costs, recompletion costs and other costs and expenses paid by such BPO Working Interest Ownerhereunder (“▇▇▇▇▇▇▇▇ Field Operating Expenses”).

Related to BPO Working Interest

  • Working Interest means an interest in oil and/or gas in the unit area by virtue of a lease, operating agreement, fee title, or otherwise, including a carried interest, the owner of which is obligated to pay, either in cash or out of production or otherwise a portion of the unit expense.

  • Working interest owner means a person or the estate of a person who owns an interest in oil and/or gas in the unit area by virtue of a lease, operating agreement, fee title, or otherwise, including a carried interest, the owner of which is obligated to pay, either in cash or out of production or otherwise a portion of the unit expense. “Working interest owner” does not include an unleased mineral owner.

  • Consenting working interest owner means any working interest owner who enters into an agreement with SWN pertaining to the operation of the Fuchs E-M Unit.

  • Participating Interest is defined in Section 1.2(d) hereof.

  • Net Revenue Interest means, with respect to any Property, the interest in and to all Hydrocarbons produced, saved, and sold from or allocated to such Property after giving effect to all royalties, overriding royalties, production payments, carried interests, net profits interests, reversionary interests, and other burdens upon, measured by, or payable out or production therefrom.