Field Imbalance definition

Field Imbalance means the difference between production from a Shipper’s Field and shippers’ aggregated nominations related to the Field.
View Source

Examples of Field Imbalance in a sentence

  • Conversely, each Party’s Field Imbalance account will be debited when less gas was actually delivered during the month than was deemed allocated to it by the gas transporter.

  • Parties will have thirty (30) days to pay the monthly Field Imbalance value to Operator.

  • A dependent of a Member shall also be deemed to be a Member if the dependent meets the requirement of (A) above.

  • Producer’s and Processor’s monthly Field Imbalance will be credited or debited to each Party’s Field Imbalance account as the case may be, by Operator.

  • Such difference between Gas sales in MMBtu allocated to the Earning Wells by Company pursuant to t▇▇▇ ▇greement and the Gas sales in MMBtu recognized by the transporter as receipts for each Party's account shall be referred to as a "Field Imbalance".

  • The Parties agree to cash settle any Field Imbalance within sixty (60) days of the end of the month in which the Field Imbalance occurred.

  • If each Party’s monthly Field Imbalance is a debit balance, Operator will issue an invoice to Parties impacted.

  • If each Party’s monthly Field Imbalance is a credit balance, Operator shall disburse the revenues due the Party within sixty (60) days to cash settle this monthly Field Imbalance.

  • In order to resolve a Field Imbalance, the Parties agree to cash settle any Field Imbalance existing as of April 1st of each calendar year, beginning with the first Day of April after the Effective Date of this Agreement.

Related to Field Imbalance

  • Imbalance means the difference between Deliveries to KUB for a Customer and Redeliveries by KUB to the Customer.

  • Imbalances means over-production or under-production or over-delivery or under-delivery with respect to Hydrocarbons produced from the Properties, regardless of whether the same arise at the wellhead, pipeline, gathering system, transportation system, processing plant, or any other location, including any imbalances under gas balancing or similar agreements, production handling agreements, processing agreements, and/or gathering or transportation agreements.

  • Product Group or “the Group” means a group of lotteries that has joined together to offer a product pursuant to the terms of the Multi-State Lottery Agreement and the Product Group’s own rules.

  • Imbalance Charges means any fees, penalties, costs or charges (in cash or in kind) assessed by a Transporter for failure to satisfy the Transporter's balance and/or nomination requirements.

  • Supply Period means for a Supply Point, the period beginning on the Start Date and ending on the Termination Date;