Initial Reserve Report definition

Initial Reserve Report means the report prepared by or under the supervision of the chief engineer of the Borrower with respect to certain Oil and Gas Properties of the Borrower and its Restricted Subsidiaries as of December 31, 2018.

Initial Reserve Report means the report prepared as of December 31, 2016 by Netherland, Xxxxxx & Associates, Inc. with respect to the Oil and Gas Properties of the Credit Parties to which Proved Reserves are attributed.

Initial Reserve Report has the meaning specified in Section 6.11.

Examples of Initial Reserve Report in a sentence

• The Administrative Agent shall have received (i) the Initial Reserve Report and (ii) a Reserve Report Certificate with respect to the Oil and Gas Properties covered by the Initial Reserve Report and covering only the matters described in Section 8.12(d)(A), Section 8.12(d)(B), Section 8.12(d)(C) and Section 8.12(d)(E) with respect thereto.

• The Administrative Agent shall have received (i) (A) an annual budget and cash flow forecast and (B) a Capital Expenditure Schedule, each as described in Section 6.01(e) covering the period from the Effective Date through the fiscal year ending December 31, 2025 and (ii) the Initial Reserve Report accompanied by a certificate covering the matters described in Section 6.11(c).

• The Administrative Agent shall have received (i) the Initial Reserve Report and (ii) a Reserve Report Certificate with respect to the Oil and Gas Properties covered by the Initial Reserve Report and covering only the matters described in Section 8.12(b)(i), Section 8.12(b)(ii), Section 8.12(b)(iii), Section 8.12(b)(v) and Section 8.12(b)(vi) with respect thereto.

• The Administrative Agent shall have received title information satisfactory to it as the Administrative Agent may reasonably require with respect to ninety percent (90%) of the PV-10 of the Proved Oil and Gas Properties evaluated in such Initial Reserve Report (it being agreed that, for solely for purposes of Section 4.01(f) on the Effective Date, the Administrative Agent has received such title information on or prior to the Effective Date).

• The Administrative Agent shall have received title information satisfactory to it as the Administrative Agent may reasonably require with respect to ninety percent (90%) of the PV-10 of the Proved Oil and Gas Properties evaluated in such Initial Reserve Report (it being agreed that, for solely for purposes of Section 6.01(f) on the Effective Date, the Administrative Agent has received such title information on or prior to the Effective Date).

More Definitions of Initial Reserve Report

Initial Reserve Report means the report of the Borrower, dated as of February 2, 2010, with respect to certain Oil and Gas Properties of the Borrower and its Subsidiaries as of December 31, 2009.

Initial Reserve Report means the Reserve Report with respect to the value of certain Oil and Gas Properties of the Borrower and its Restricted Subsidiaries as of July 1, 2011.

Initial Reserve Report means the reserve engineers’ report evaluating the Proved Developed Producing Reserves of the Credit Parties prepared by the internal engineers of the Borrower as of December 1, 2020, delivered to the Administrative Agent prior to the date hereof.

Initial Reserve Report means the report of Xxxxx Xxxxx Company Petroleum Consultants, L.P. dated as of December 31, 2013 with respect to certain Oil and Gas Properties of the Borrower and the Initial Guarantor as of December 31, 2013.

Initial Reserve Report means the reserve engineers’ report as of September 30, 2011 of Netherland, Xxxxxx & Associates, Inc., with respect to the Oil and Gas Properties of the Credit Parties.

Initial Reserve Report means the report of XX Xxxx and Associates dated as of January 24, 2017, with respect to certain Oil and Gas Properties of the Borrower and the other Group Members as of December 31st, 2016.

Initial Reserve Report means the reserve report prepared by Netherland, Xxxxxx & Associates, Inc. setting forth, as of December 31, 2021, the Proved Reserves attributable to the Oil and Gas Properties of the Borrower and its Restricted Subsidiaries, utilized by the Administrative Agent and the Lenders in determining the initial Borrowing Base as of the Effective Date.