Lost Oil definition

Lost Oil means the volume of crude oil (expressed in Barrels) which is lost and unaccounted for in the Gathering System. Shipper’s proportionate share of Lost Oil shall be stated in Barrels and shall be determined in accordance with Gatherer’s standard allocation procedures on a proportional basis.
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Lost Oil means the volume of crude oil (expressed in Barrels) which is lost and unaccounted for in the Gathering System. Shipper's proportionate share of Lost Oil shall be stated in Barrels and shall be determined in accordance with Gatherer's standard allocation procedures on a proportional basis. It is understood and agreed that Shipper's proportionate share of Lost Oil shall not include any crude oil trucked to the CDP.
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Related to Lost Oil

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