Initial Production Rate definition

Initial Production Rate means a Net Production Rate to be determined by the Parties before or on the Effective Date, in accordance with the methodology and the equipment for measuring such Net Production Rate, to be agreed by the Parties, that fairly represents the Net Production Rate as of the Effective Date.
Sample 1
Initial Production Rate means the highest thirty consecutive day average daily production rate of barrels of oil equivalent per day for the forty-five day period after flowback has started.
Sample 1
Initial Production Rate means the average gross daily rate of natural gas production from the applicable Well expressed in cubic feet during the first five (5) 24-hour days of production beginning with the Initial Production Date. For purposes of all of the definitions in this Note, any oil or condensate produced from the Well will be deemed natural gas production and converted to natural gas at the ratio of 1 barrel of oil or condensate to 6 thousand cubic feet of gas.
Sample 1

Examples of Initial Production Rate in a sentence

  • The formula used for selecting the winning bidder, which was disclosed by the PCLD, is the following:Bid score = (PPT-IPR) * (50-RFB) The Initial Production Rate (IPR) is the baseline production capacity of the field before awarding the field to the company or consortium, which is defined by the MoO and shared with the participants.

  • In addition to any monthly payments provided for in paragraph (i) above, if the Initial Production Rate for any of the LSP Wells meets or exceeds the Initial Production Threshold, then Borrower shall make a supplemental payment equal to the lesser of: (a) the remaining unpaid principal and interest due hereunder or (b) the sum of $800,000 (to be applied to the reduction of principal) plus an amount equal to all accrued but unpaid interest hereunder.

  • The Non-Xxxxx Loan Parties shall maintain an Average New Drill Initial Production Rate of at least 450 barrels of oil equivalent per day.

  • The Non-Xxxxx Loan Parties shall maintain an Average Reentry Initial Production Rate of at least 375 barrels of oil equivalent per day.

  • The Contract shall enter into force upon (i) it being signed by the Parties; (ii) SOC notifying and representing to Contractor in writing that ratification has occurred and the Contract is enforceable in accordance with the Law; and, (iii) the Initial Production Rate being agreed on by the Parties.

  • Table 2 TEXADON CAPEX Gas Initial Production Rate Million Cubic Feet/DayWellActivity CostLowMidHigh Bahr #1Replace Tubing, Cleanout$0.333m0.10.30.6Bahr #3Deepen and Complete$3.000m2.55.510.0Bahr #4Replace Tubing, Cleanout$0.268m0.10.30.6Bahr #7Fracture Stimulate $0.508m1.02.43.0Bahr #9Fracture Stimulate $0.508m1.02.43.0If the Company raises the Minimum Proceeds from the Placing, then the planned low risk Workover Program will be deferred until cash is made available from the other producing wells.

  • The court must first determine whether an actual conflict of law exists.

  • Initial Production Rate of Skorpil 11-2 #1H Well The Skorpil 11-2 #1H has also been fracture stimulated with 35 stages and had an early 24-hour flow back rate of 1,533 BOE/D on a 36/64" restricted choke during drillout of the plugs.

  • At least thirty (30) days prior to the commencement of any production enhancing operations by Farmee, the Farmor and Farmee will agree upon an Initial Production Rate (“IPR”) to be established for each well, unit or field subject to this Agreement.

  • Operations Update Williston Basin, North Dakota Initial Production Rate of the Pirate 1-2-11 H Well The Pirate 1-2-11H well was completed with 35 fracture stimulation stages mid-March with an initial peak 24 hour production rate of 1,801 BOE/D.


More Definitions of Initial Production Rate

Initial Production Rate means a Net Production Rate calculated as the average daily production rate measured during the period commencing ninety (90) days prior to the Effective Date of nine hundred and fifty-six thousand, five hundred and fifty (956,550) Barrels of Crude Oil per day] [Notes: 1) The BP and CNPC bid was based on the Initial Production Rate of 956,550bpd and not the higher rate recently provided by PCLD of 1,030,000bpd. This higher rate is a fundamental change to the bid basis which has commercial implications and is not accepted by BP/CNPC and should be discussed further with PCLD
Sample 1
Initial Production Rate means a Net Production Rate of ( ) Barrels of Crude Oil per day.
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Related to Initial Production Rate

  • Commercial Production means the operation of the Property or any portion thereof as a producing mine and the production of mineral products therefrom (excluding bulk sampling, pilot plant or test operations);

  • Commencement of Commercial Production means: (i) if a mill is located on the Property, the last day of a period of 40 consecutive days in which, for not less than 30 days, the mill processed ore from the Property at 60% of its rated concentrating capacity; or (ii) if a mill is not located on the Property, the last day of a period of 30 consecutive days during which ore has been shipped from the Property on a reasonably regular basis for the purpose of earning revenues, but any period of time during which ore or concentrate is shipped from the Property for testing purposes, or during which milling operations are undertaken as initial tune-up, shall not be taken into account in determining the date of Commencement of Commercial Production;

  • Dyed diesel fuel means diesel fuel that is dyed in accordance with internal revenue service rules or pursuant to any other internal revenue service requirements, including any invisible marker requirements.

  • Contract Year means each period of twelve (12) consecutive months during the Initial Term of this Agreement, with the first Contract Year commencing on the Effective Date, and with each subsequent Contract Year commencing on the anniversary of the Effective Date.

  • Commercial Product means any such product as defined in FAR 2.101.

  • SOFR IndexStart means the SOFR Index value on the date that is the number of U.S. Government Securities Business Days specified in the relevant Final Terms preceding the first date of the relevant Interest Accrual Period (a "SOFR Index Determination Date").

  • Reference biological product means the single biological product licensed pursuant to 42 U.S.C.

  • Production Period is the period that for winter cereal advances commences October 1, 2021 and terminates September 30, 2023; for advances on all other field crops, honey, hogs, goats, sheep and lambs commences April 1, 2022 and terminates September 30, 2023; and for advances on cattle, continuous flow cattle, and bison commences on April 1, 2022 and terminates on March 31, 2024.

  • Additional Product means any Product identified as such in the Product Terms and chosen by Enrolled Affiliate under this Enrollment.

  • Refined Products means gasoline, diesel fuel, jet fuel, asphalt and asphalt products, and other refined products of crude oil.

  • SOFR Compounded Index means the Compounded SOFR rate as published at 15:00 (New York time) by Federal Reserve Bank of New York (or a successor administrator of SOFR) on the website of the Federal Reserve Bank of New York, or any successor source; and

  • Semi-annual (2/Year) sampling frequency means the sampling shall be done during the months of June and December, unless specifically identified otherwise.

  • Ultra Low Sulfur Diesel Fuel means diesel fuel that has a sulfur content of no more than fifteen parts per million.

  • Supply Period means the period commencing on the Supply Period Start Date and terminating on the Termination Date.

  • Initial Index Price means the sum of each per share closing price of the common stock of each company comprising the Index Group multiplied by the applicable weighting, as such prices are reported on the consolidated transactions reporting system for the market or exchange on which such common stock is principally traded, on the trading day immediately preceding the public announcement of the Agreement.

  • Net Sales Price means the gross sales price to retailers of all Licensed Products sold under this Agreement or, with respect to Licensed Products that are not sold directly or indirectly to retailers, other ultimate consumers (as in the case of accommodation sales by Licensee to its employees or sales by Licensee in its own shops), less trade discounts, merchandise returns, sales tax (if separately identified and charged) and markdowns and/or chargebacks which, in accordance with generally accepted accounting principles, would normally be treated as deductions from gross sales, and which, in any event, do not include any chargebacks or the like for advertising, fixture or retail shop costs or contributions. Notwithstanding the foregoing, Licensor hereby waives its right to (i) receive royalties hereunder for, or (ii) include within the calculation of Net Sales Price for the purpose of calculating the Annual Advertising Obligation as set forth in paragraph 4.6 hereof, sales of units of Licensed Products sold at a discount of [OMITTED; MATERIAL FILED SEPARATELY WITH SECURITIES AND EXCHANGE COMMISSION] or more off the regular wholesale price ("Discounted Units"), provided that such waiver shall only apply to the extent that the aggregate Net Sales Price of Discounted Units for any year does not exceed [OMITTED; MATERIAL FILED SEPARATELY WITH SECURITIES AND EXCHANGE COMMISSION] of the Net Sales Price of all units of Licensed Products other than Discounted Units sold in such year. No other deductions shall be taken. Any merchandise returns shall be credited in the quarter in which the returns are actually made. For purposes of this Agreement, affiliates of Licensee shall mean all persons and business entities, whether corporations, partnerships, joint ventures or otherwise, which now or hereafter control, or are owned or controlled, directly or indirectly by Licensee, or are under common control with Licensee. It is the intention of the parties that royalties will be based on the bona fide wholesale prices at which Licensee sells Licensed Products to independent retailers in arms' length transactions. In the event Licensee shall sell Licensed Products to its affiliates, royalties shall be calculated on the basis of such a bona fide wholesale price irrespective of Licensee's internal accounting treatment of such sale unless such products are sold by its affiliates directly to the end-user consumer, in which case royalties shall be calculated on the basis of the price paid by the end-user consumer, less applicable taxes. Licensee shall identify separately in the statements provided to Licensor pursuant to paragraph 7 hereof, all sales to affiliates. At least once annually and no later than 90 days after the close of Licensee's fiscal year, Licensee shall furnish to Licensor a statement of the Net Sales Price of all Licensed Products sold during the year just ended, which shall be certified by the independent auditor for Licensee as correct and in accordance with the terms of this Agreement.

  • HICP Daily Inflation Reference Index means (A) in relation to the first day of any given month, the HICP Monthly Reference Index of the third month preceding such month, and (B) in relation to a day (D) (other than the first day) in any given month (M), the linear interpolation of the HICP Monthly Reference Index pertaining respectively to the third month preceding such month (M - 3) and the second month preceding such month (M - 2) calculated in accordance with the following formula:

  • Yearly (1/Year) sampling frequency means the sampling shall be done in the month of September, unless specifically identified otherwise in the effluent limitations and monitoring requirements table.

  • Semi-annual (2/Year) sampling frequency means the sampling shall be done during the months of June and December, unless specifically identified otherwise.

  • CPI Daily Inflation Reference Index means (A) in relation to the first day of any given month, the CPI Monthly Reference Index of the third month preceding such month, and (B) in relation to a day (D) (other than the first day) in any given month (M), the linear interpolation of the CPI Monthly Reference Index pertaining respectively to the third month preceding such month (M - 3) and the second month preceding such month (M - 2) calculated in accordance with the following formula:

  • Net metering period means the 12-month period following the date of final interconnection of the

  • Additional Products means products, services and applications that are not part of the Services but that may be accessible, via the Admin Console or otherwise, for use with the Services.

  • Development Location Point means a single point selected by the Applicant on the proposed Development site that is located within 100 feet of a residential building existing or to be constructed as part of the proposed Development. For a Development which consists of Scattered Sites, this means a single point on the site with the most units that is located within 100 feet of a residential building existing or to be constructed as part of the proposed Development.

  • Manufacturing Cost means ***

  • Development Well means a well drilled inside the established limits of an oil or gas reservoir, or in close proximity to the edge of the reservoir, to the depth of a stratigraphic horizon known to be productive.

  • Milk product or "dairy product" means cottage cheese, dry curd cottage cheese, reduced fat cottage cheese, lowfat cottage cheese, cream, light cream, light whipping cream, heavy cream, heavy whipping cream, whipped cream, whipped light cream, sour cream, acidified sour cream, cultured sour cream, half-and-half, sour half-and-half, acidified sour half-and-half, cultured sour half-and-half, reconstituted or recombined milk and milk products, concentrated milk, concentrated milk products, skim milk, lowfat milk, frozen milk concentrate, flavored milk, eggnog, buttermilk, cultured milk, cultured lowfat milk, cultured skim milk, yogurt, lowfat yogurt, nonfat yogurt, acidified milk, acidified lowfat milk, acidified skim milk, low-sodium milk, low-sodium lowfat milk, low-sodium skim milk, lactose-reduced milk, lactose-reduced lowfat milk, lactose-reduced skim milk, aseptically processed and packaged milk, milk products with added safe and suitable microbial organisms, and any other milk product made by the addition or subtraction of milkfat or addition of safe and suitable optional ingredients for protein, vitamin, or mineral fortification. Unless a product is considered a milk product under this subdivision, milk product does not include dietary products, infant formula, ice cream or other desserts, cheese, or butter. Milk products include the following: