Estimated Production definition

Estimated Production means in respect of the First Period and each subsequent Calendar Quarter, the Lessee's estimate of the total quantity of the Hydrocarbons and By-products to be Produced and Saved from the Contract Area during such period.

Estimated Production for the purposes of the approval of the Declaration of Commerciality pursuant to Article 3.7(c),means the estimated Net Production expressed in BOE, during the Development Period; as determined according to the Best International Petroleum Industry Practices and reflecting the “best estimate” (volume “2C” pursuant to the Society of Petroleum Engineers’ (SPE) Petroleum Resources Management System (PRMS) for Contingent Resources).

Estimated Production means as estimated production as per Clause 14.6. “Force Majeure Event” shall have the meaning defined in Clause 17.2.

Examples of Estimated Production in a sentence

• In the first year of the Term, Estimated Production will be based on our production projections.

• After the first year of the Term, Estimated Production will be based on historical production for that month in the prior year.

• You will not be charged for Estimated Production when the System is not producing electricity due to SolarCity’s fault, or if it’s due to grid failure or power outages caused by someone other than you.

• PAEt = Estimated Production in the Field for the Year of calculation.

• If we bill you for Estimated Production because your System is not reporting production to SolarCity, and we subsequently determine that we have either overestimated or underestimated the actual production, then we will adjust the next bill downward (to refund overbilling) or upward (to make up for lost billing).

More Definitions of Estimated Production

Estimated Production for the purposes of the approval of the Declaration of Commerciality pursuant to Article 3.7(c), means: (a) in the case of an Oil Discovery, the estimated Net Crude Oil Production (b) in the case of a Gas Discovery, the sum of the estimated Net Dry Gas Production and Net NGL Production, expressed in BOE, during the Development Period; in each case as determined according to the Best International Petroleum Industry Practices and reflecting the “best estimate” (volume 2C pursuant to SPE/WPC/AAPG/SPEE Petroleum Resources Management System for Contingent Resources).

Estimated Production shall have the meaning defined in Clause 12.7.

Estimated Production means the estimated combined natural gas and gas liquids production from the proved developed producing reserves of the Borrower and its Subsidiaries as reflected in the most recently delivered Engineering Report.

Estimated Production means the estimated total volume of production of the Mine as estimated by the Parties on the date of the Deed of Novation, equal to the Vanadium Products produced from with an average grade or the equivalent tonnage of these or other vanadium products in some other combination, and as set forth in Schedule I to this Contract, to be produced during the period of after the Commercial Production Date in accordance herewith.

Estimated Production means the estimated amount of Solar Output to be generated by a System in each calendar month as set forth in Schedule 6 of the SPPA; provided, that, such amounts shall be prorated for any period of time shorter than one calendar month or any period of time that spans more than one calendar month.

Estimated Production means the 304,976 troy ounces of gold estimated by Hemlo to be recovered from thx Xxarter Claim after January 1, 1995 as shown in the last line of the column on Schedule B entitled "Estimated Ounces Recovered".

Estimated Production means the estimated (i) crude oil production and (ii) combined natural gas and gas liquids production, calculated separately in the case of clauses (i) and (ii) or on a combined basis, as applicable, from the proved developed producing reserves of the Borrower and its Subsidiaries as reflected in the most recently delivered Engineering Report.