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.
PAEt = Estimated Production in the Field for the Year of calculation.
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.
If we ▇▇▇▇ 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 ▇▇▇▇ downward (to refund overbilling) or upward (to make up for lost billing).
More Definitions of Estimated Production
Estimated Production means the 304,976 troy ounces of gold estimated by Hemlo to be recovered from th▇ ▇▇arter Claim after January 1, 1995 as shown in the last line of the column on Schedule B entitled "Estimated Ounces Recovered".
Estimated Production. Homeowner will lease from Solar Owner the Solar Facility that is projected to produce XXXX kilowatt hours of electricity in the first full year of operation, with a likely production degradation rate of 0.5% per year, at a lease cost of $0 per month. All power generated by the Solar Facility shall be delivered by Solar Owner to Homeowner for Homeowner’s benefit, with a corresponding reduction in the Homeowner’s electric utility bills.
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 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 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 or the equivalent tonnage of these or other vanadium products in some other combination, and as set forth in
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.
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.