Deep Basin definition

Deep Basin means the area situated along the north-eastern front of the Rocky Mountain belt, which is the deepest part of the Alberta synclinal sedimentary basin. It contains low-permeability gas reservoirs, featuring regionally pervasive gas accumulations down-dip of regional aquifers.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Deep Basin means the area within the Western Canadian Sedimentary Basin that is south of Whitecourt, Alberta; “Directive 060” means Upstream Petroleum Industry Flaring, Incinerating and Venting;

Deep Basin means the area within the Western Canadian Sedimentary Basin that is south of Whitecourt, Alberta; "Directive 017" means Measurement Requirements for Oil and Gas Operations;

Examples of Deep Basin in a sentence

• For so long as the Borrower is required to calculate a borrowing base value of the Deep Basin Partnership's proven developed producing reserves in accordance with the definition of Net Deep Basin Redemption Price, the Borrower will deliver to the Agent an annual reserve report prepared by an independent engineering firm in respect of the proven developed producing Oil and Gas Properties owned by the Deep Basin Partnership and dated not earlier than December 31 of the immediately preceding year.

• If the Borrower requests, and the Agent (acting reasonably) agrees, to re-determine the Net Deep Basin Redemption Price more frequently than once in any calendar year, the Borrower agrees to provide the Agent with such updated reports and financial documentation set forth in Section 14.1(j)(ii) as may be reasonably requested by the Agent.

• The Manager is free to act for its own account and to provide investment management services and advice to others, including to Deep Basin Long-Short Fund LP, Deep Basin Long-Short Fund Ltd., Deep Basin Long-Short Master Fund LP (the “Deep Basin Long-Short Funds”), and any accounts generally managed on a pari passu basis with the Deep Basin Long-Short Funds (collectively the “Comparable Accounts”).

• TIFF Investment Program Deep Basin Capital LP on behalf of the Fund /s/ R▇▇▇▇▇ ▇▇▇▇ /s/ M▇▇▇▇▇▇ ▇.

• Co-Ed’s main volume capture regions are Southwest and Central Alberta, Cardium, Deep Basin, and ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇.

• Notwithstanding the foregoing, within 30 days after the Closing Date, the Agent will notify the Borrower of the borrowing base value of the Oil and Gas Properties that were initially contributed by the Borrower into the Deep Basin Partnership and such value shall be used in determining the Net Deep Basin Redemption Price until the next such calculation by the Agent.

• Deep Basin Money Manager Agreement In placing such orders, the Manager will give primary consideration to obtaining the most favorable price and efficient execution reasonably available under the circumstances and in accordance with applicable law.

• The Company’s operations are primarily concentrated in the Deep Basin of North West Alberta, from which in excess of 90 percent of the Company’s production is obtained.

• Deep Basin Money Manager Agreement The rights and obligations that are provided in section (f) of P▇▇▇▇▇▇▇▇ ▇, ▇▇▇▇▇▇▇▇▇ 8 and Paragraph 16 shall survive the cancellation, expiration, or termination of this Agreement.

• Deep Basin Money Manager Agreement In witness whereof, the parties hereto execute this Agreement on and make it effective on the Effective Date specified in the first paragraph of this Agreement.