Economic production definition

Economic production means the ability of the mining property to profitably produce and sell product, even if that ability is not being utilized.
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Economic production or “economically produced” means production of an oil and gas
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Economic production means the ability of the mining minerals, obtained from reputable forecasters, mutually agreed upon property to profitably produce and sell product, even if that ability between the Property Tax Division and the taxpayer.
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Related to Economic production

  • Postproduction means an activity related to the finishing or duplication of a medium described in Subsection 59-12-104(54)(a).

  • Economic development project means land and existing or planned improvements suitable for use by an industrial or commercial enterprise, or housing development, or the protection of the environment, including, but not limited to, groundwater or surface water. Economic development project includes necessary buildings, improvements, or structures suitable for and intended for or incidental to use as an industrial or commercial enterprise or housing development; and includes industrial park or industrial site improvements and port improvements or housing development incidental to an industrial or commercial enterprise; and includes the machinery, furnishings, and equipment necessary, suitable, intended for, or incidental to a commercial, industrial, or residential use in connection with the buildings or structures.

  • Volumetric Production Payments means production payment obligations recorded as deferred revenue in accordance with GAAP, together with all undertakings and obligations in connection therewith.

  • Transit-oriented development means infrastructure improvements that are located within 1/2 mile of a transit station or transit-oriented facility that promotes transit ridership or passenger rail use as determined by the board and approved by the municipality in which it is located.

  • Commercial Production means the operation of the Property or any portion thereof as a producing mine and the production of mineral products therefrom (excluding bulk sampling, pilot plant or test operations);