LACT Units definition

LACT Units or “LACT” means the Lease Automatic Custody Transfer units that, among other things, measure the volume and quality of the Product entering or leaving the System.
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LACT Units means the Lease Automatic Custody Transfer units that, among other things, measure the volume and quality of the Crude Petroleum entering or leaving Carrier’s System.
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LACT Units means lease automated custody transfer units, constructed in accordance with the American Petroleum Institute Manual of Petroleum Measurement Standards.
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Examples of LACT Units in a sentence

  • For those tank battery receipt points constructed by Carrier where Shipper elects for Carrier to own, operate, maintain and repair the LACT Units, a charge of [U] $0.1250 shall be assessed in addition to the transportation rates applicable to such Shipper, as set forth in Tables 4 and 5, for shipments originating from such tank battery receipt points.

  • For those tank battery receipt points constructed by Carrier where Shipper elects for Carrier to own, operate, maintain and repair the LACT Units, a charge of [U] $0.1250 shall be assessed in addition to the transportation rates applicable to such Shipper, as set forth in Tables 1 and 2, for shipments originating from such tank battery receipt points.

  • For those tank battery receipt points constructed by Carrier where Shipper elects for Carrier to own, operate, maintain and repair the LACT Units, a charge of [U] $0.10 shall be assessed in addition to the gathering rates applicable to such Shipper, as set forth in Tables 1 and 2, for shipments originating from such tank battery receipt points.

  • Four Lease Automatic Custody Transfer (LACT) Units will be installed at the location for royalty determination purposes as required by Bureau of Safety and Environmental Enforcement (BSEE).In accordance with Santa Barbara regulations, ExxonMobil is requesting the approval of a permit as detailed in the attached application and supporting documents.

  • Gatherer is responsible for and will bear all costs associated with proving LACT Units.

  • Decisions on the capital programme do have an impact on the revenue budget; however, and this could relate to: the revenue costs of financing capital and the ongoing running costs of new assets.

  • Diverter Valve: A three-way, two position valve or two mechanically interlocked valves shall be provided on all LACT Units where excess BS&W liquids are to be circulated for retreating.

  • The project will include minor modifications to the LFC facilities including the installation of four Lease Automatic Custody Transfer (LACT) Units, associated piping, electrical and communication connections, pipe and equipment supports, truck loading racks, operator shelter, paving of selected areas, and minor containment and drainage grading.

  • The Gathering Services Agreement (LACT Units) between TUSA and Caliber Measurement entered into on September 12, 2013.Caliber Fresh Water and TUSA entered the Fresh Water Sales Agreement (the “ Fresh Water Agreement”), dated May 13, 2014.

  • Summary of Procedures for LACT Units • Prove LACT meters quarterly or every 75,000 barrels, whichever comes first unless ◇ directed otherwise by regulatory or contractualobligations, ◇ the fluid characteristics and operation require more frequent proving, ◇ the flow rate increases or decreases by 15% or more, or ◇ the gravity significantlychanges.

Related to LACT Units

  • Common Units is defined in the Partnership Agreement.

  • Units means the units of the Company, each comprised of one share of Common Stock and one-half of one Warrant.

  • Trust Units means units of the Trust;

  • Class B Units means the Class B Units of the Company.

  • Class A Units means the Units of partnership interest in the Partnership designated as the “Class A Units” herein and having the rights pertaining thereto as are set forth in this Agreement.

  • Preferred Units means all Partnership Interests designated as preferred units by the General Partner from time to time in accordance with Section 4.02 of the Partnership Agreement.

  • Class D Units has the meaning ascribed to such term in the LLC Agreement.

  • Partnership Units or “Units” has the meaning provided in the Partnership Agreement.

  • Core Units means such Units of the Trust that are issued to Core Investors with the condition that these are not redeemable for a period of two years from the close of the First Offer Period. Such Units are transferable with this condition, but otherwise shall rank pari passu with all other Units, save for this restriction. Any transfer of the Core Units, during the first two years of their issue as mentioned herein, shall be affected only on the receipt by the Registrar of a written acceptance of this condition by the transferee.

  • OP Units means units of limited partnership interest in the Operating Partnership.