FUTURE NET definition
FUTURE NET. REVENUES" shall mean, for any period, the future gross revenues attributable to all or a part (as specified herein) of Proved Reserves constituting part of the Hydrocarbon Properties for such period less the sum for such period of all projected Operating Expenses and Capital Expenditures with respect thereto, as set forth in the related Borrowing Base Report, and less (without duplication) all amounts projected to be applied to the discharge of any Production Payment and to the unearned balance of any advance payment received under any contract to be performed relating to such Proved Reserves.
FUTURE NET. REVENUES" shall mean, as of any date of determination for any period, the projected gross revenues attributable to all or a part (as specified herein) of Proved Reserves constituting part of the Hydrocarbon Properties included in the Reserve Evaluation Report for such period less the sum for such period of all projected Operating Expenses and Capital Expenditures with respect thereto, as set forth in the related Reserve Evaluation Report, and less (without duplication) all amounts projected to be applied to the discharge of any advance payments on similar agreements with respect to hydrocarbons in place and to the unearned balance of any advance payment received under any contract to be performed relating to such Proved Reserves.
Examples of FUTURE NET in a sentence
EFFECTIVE DECEMBER 31, 1998 FOR DISCLOSURE TO THE SECURITIES AND EXCHANGE COMMISSION WILLIAMSON PROJECT 9.8740 NET RESERVES AND FUTURE NET REVENUE FROM REPORTS PREPARED BY WILLIAMSON PETROLEUM CONSULTANTS, INC.