Compensation Oil definition

Compensation Oil or “Compensation Gas” (commonly known in the industry as “profit oil” or “profit gas”): means the remainder of the Available Production, after deducting Reimbursement Oil and/or Reimbursement Gas, which is shared between the STATE and the CONTRACTOR pursuant to the provisions of Article 13 or Article 22 of this Contract as applicable.
Sample 1Sample 2Sample 3

Examples of Compensation Oil in a sentence

  • Zaleschuk Calgary, Alberta, Canada Independent Director since June 1, 1997 Finance Committee Chair since April 27, 2006 Areas of Expertise: Growth International CEO Compensation Oil and Gas Governance Financial HSE & SR Diversity Vic Zaleschuk, 64, is the retired President and CEO of Nexen, a position he held from June 1, 1997 to May 31, 2001.

  • Comm., FCA, F.ICD IndependentDirector since Dec 10, 2002Member of:Audit Committee (chair)—financial expert Compensation CommitteeExpertise:Strategy/Growth, International, CEO/Senior officer, Compensation, Oil and gas, Board, Financial, Sustainability, Public policy/Corporate relations, MarketingTom O’Neill is the retired chair of PwC Consulting.

  • Nationalization and Compensation: Oil Arbitrations, Karnameh, Tehran.

  • Sc., M.Sc. IndependentDirector since Dec 8, 2008 Member of:Audit Committee — financial expert Compensation CommitteeReserves Committee (chair)Expertise:Strategy/Growth, International, CEO/Senior officer, Exploration, Compensation, Oil and gas, Board, Financial, Sustainability, Public policy/Corporate relationsWilliam Berry is a retired oil and gas executive with over 37 years of oil and gas experience.

  • The In Kind Premium shall be the right to own, take in kind and separately dispose of Hydrocarbons produced out of one hundred percent (100%) of the Non-Sole-Risk Party's share of future production (including Reimbursement Oil, Compensation Oil and, where applicable under the Contract, Natural Gas) from the Sole-Risk development resulting from the Discovery in which the Non-Sole-Risk Party desires to reinstate the rights it relinquished pursuant to Article 11.6(a) above.

  • Subsequent to our fiscal year end, we leased the property in Austin, Texas, where our Rick’s Austin is located.

Related to Compensation Oil

  • Termination Compensation means a monthly cash amount equal to one-twelfth (1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

  • Compensation Year means a period of 12 months expiring 31 March in any year;

  • Compensation Fund means the fund maintained by the Society pur- suant to Sections 21 and 22 (as substituted, respectively, by Sections 29 and 30 of the Act of 1994) of the Act of 1960;

  • Cash Compensation means any discount, concession, fee, service fee, commission, sales charge, loan, override, or cash benefit received by a producer in connection with the recommendation or sale of an annuity from an insurer, intermediary, or directly from the consumer.

  • Compensation means all base straight time gross earnings and commissions, exclusive of payments for overtime, shift premium, incentive compensation, incentive payments, bonuses and other compensation.

  • Compensation and Benefits Programs means all compensation and benefit plans, policies, and programs of the Debtors, and all amendments and modifications thereto, applicable to the Debtors’ employees, former employees, retirees, and non-employee directors and the employees, former employees and retirees of their subsidiaries, including all savings plans, retirement plans, health care plans, disability plans, and incentive plans, deferred compensation plans, and life, accidental death, and dismemberment insurance plans.

  • Cancellation Compensation means an amount payable by a Participating Dealer in respect of a default, as set out in the Trust Deed and in the Operating Guidelines applicable at the time the relevant Creation Application or Redemption Application is made.

  • Recoverable Incentive Compensation means Incentive Compensation received by a Covered Officer during the Lookback Period that exceeds the amount of Incentive Compensation that would have been received had such amount been determined based on the Accounting Restatement, computed without regard to any taxes paid (i.e., on a gross basis without regard to tax withholdings and other deductions). For any compensation plans or programs that take into account Incentive Compensation, the amount of Recoverable Incentive Compensation for purposes of this Policy shall include, without limitation, the amount contributed to any notional account based on Recoverable Incentive Compensation and any earnings to date on that notional amount. For any Incentive Compensation that is based on stock price or TSR, where the Recoverable Incentive Compensation is not subject to mathematical recalculation directly from the information in an Accounting Restatement, the Administrator will determine the amount of Recoverable Incentive Compensation based on a reasonable estimate of the effect of the Accounting Restatement on the stock price or TSR upon which the Incentive Compensation was received. The Company shall maintain documentation of the determination of that reasonable estimate and provide such documentation to the Exchange in accordance with the Listing Standards.

  • Compensation Payment means a payment, whether in monetary form or in the form of a benefit or service, by or on behalf of an insurer to a complainant to compensate the complainant for a proven or estimated financial loss incurred as a result of the insurer’s contravention, non-compliance, action, failure to act, or unfair treatment forming the basis of the complaint, where the insurer accepts liability for having caused the loss concerned, but excludes any –

  • Special compensation means payment to an adult foster care facility to ensure the provision of a specialized program in addition to the basic payment for adult foster care. Special compensation does not include payment received directly from the Medicaid program for personal care services for a resident, or payment received under the supplemental security income program.