Gross Working Interest definition

Gross Working Interest means that interest, expressed as a decimal, percentage, or fractional interest, relative to 100% on which Participant shall pay (his/her/its) share of operating expenses.
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Gross Working Interest and "W.I." or "
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Gross Working Interest and “W.I.” or “G.W.I.” means an interest owned in an oil, gas and mineral lease that determines the cost bearing percentage of the owner of such interest.
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Examples of Gross Working Interest in a sentence

  • The Assignment from Operator to Participant shall be of Participant’s before payout Gross Working Interest and Net Revenue Interest as identified on the signature page to this Agreement and shall be specifically subject to the “after payout” interest of Operator, as providing for in this Agreement.

  • Counties Denton and W▇▇▇ Counties State Texas Existing W▇▇▇▇: See "Current Dedicated W▇▇▇▇" listed below Supplier’s Gross Working Interest Varies.

  • The Assignment from Operator to Participant shall be of Participant’s before payout Gross Working Interest (“Gross Working Interest”) and Net Revenue Interest (“Net Revenue Interest”) as identified on the signature page to this Agreement and shall be specifically subject to the “after payout” interest of Operator, as providing for in this Agreement.


More Definitions of Gross Working Interest

Gross Working Interest. N/A until payout Net Revenue Interest: N/A until payout After Payout: Prospect Well 1 (see Section II. 1.) Gross Working Interest: 25.0% Net Revenue Interest: 18.125% Prospect Well 2 and 3 (see Section II. 2.) Before Payout
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Gross Working Interest. N/A until payout Net Revenue Interest: N/A until payout After Payout: Prospect Well 1 (see Section II. 1.) Gross Working Interest: 25.0% Net Revenue Interest: 18.75% Prospect Well 2 and 3 (see Section II. 2.) Before Payout Gross Working Interest: 37.5% Net Revenue Interest: 28.125.125% After Payout: Prospect Well 2 and 3 (see Section II. 1.) Gross Working Interest: 37.5% Net Revenue Interest: 28.125% /s/ By: Title: Director Names: Shale Corp. Address: ▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇ ▇▇, ▇▇▇ ▇▇▇ Phone Number: Fax Number:
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Gross Working Interest means in respect of oil reserves, the total oil reserves attributable to the Corporation’s interest prior to deductions under the production sharing contract and based on economically recoverable volumes within the development/exploitation period specified in the production sharing contract.
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Gross Working Interest means, for each Lease or group of Leases, the interest identified as "Working Interest" on Exhibit A.
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Gross Working Interest. (herein sometimes referred to as "GWI") shall mean each Party's Working Interest percentage in a particular Tract as shown on Exhibit "B" to the Unit Agreement.
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Gross Working Interest means, in respect of resources, the total resources attributable to the Corporation’s interest prior to the deductions per the applicable production sharing contract, risk exploration contract or fiscal regime for each license area.
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Related to Gross Working Interest

  • Working Interest means an interest in oil and/or gas in the unit area by virtue of a lease, operating agreement, fee title, or otherwise, including a carried interest, the owner of which is obligated to pay, either in cash or out of production or otherwise a portion of the unit expense.

  • Net Revenue Interest means, with respect to any Property, the interest in and to all Hydrocarbons produced, saved, and sold from or allocated to such Property after giving effect to all royalties, overriding royalties, production payments, carried interests, net profits interests, reversionary interests, and other burdens upon, measured by, or payable out or production therefrom.

  • Working interest owner means a person or the estate of a person who owns an interest in oil and/or gas in the unit area by virtue of a lease, operating agreement, fee title, or otherwise, including a carried interest, the owner of which is obligated to pay, either in cash or out of production or otherwise a portion of the unit expense. “Working interest owner” does not include an unleased mineral owner.

  • Consenting working interest owner means any working interest owner who enters into an agreement with SWN pertaining to the operation of the Fuchs E-M Unit.

  • Net Acres means, as computed separately with respect to each Lease, (i) Seller’s Working Interest in the Lease multiplied by (ii) the number of gross acres covered by the Lease multiplied by (iii) the undivided interest in the oil and gas mineral fee estate in the land covered by the Lease.