Marcellus Assets definition

Marcellus Assets means the producing Marcellus shale gas properties owned by MidContinent and located in New York and West Virginia that constitute part of the Borrowing Base Oil and Gas Properties that were initially acquired by Eastern from PetroEdge Resource (WV) LLC and transferred to Quest Cherokee by Eastern and acquired by MidContinent by merger.
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Marcellus Assets has the meaning set forth in Section 6.12(a)(iii).
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Marcellus Assets means the Marcellus shale gas properties owned by Borrower and located in New York and West Virginia that constitute the real property collateral mortgaged by Borrower to secure repayment of amounts owing under the Credit Agreement and Note.
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Examples of Marcellus Assets in a sentence

  • The Administrative Agent’s lien on the Marcellus Assets and Borrower’s equity held for the benefit of the Lender shall not be released if less than $*** is paid to Lender (excluding any payment made to Lender under this Agreement), except in connection with a Non-Qualifying Sale.

  • As of the closing of the Citrus Acquisition, we will hold an approximate 75% working interest and an approximate 60% net revenue interest in these Marcellus Assets.

  • In the event that Borrower contracts with a buyer on such terms, Borrower shall be entitled to exclude the Marcellus Pipeline from the Marcellus Assets to be sold.

  • We have budgeted capital expenditures of $18.7 million relating to the Marcellus Assets for the balance of 2014, $17.2 million to drill 4 gross (3.5 net) and complete 3 gross (2.3 net) wells in the Marcellus Assets, and $1.5 million in midstream capital expenditures.

  • The assets we are acquiring include a robust and scalable infrastructure system that will enable further our development of the Marcellus Assets, including a gathering and compression system, takeaway capacity to end markets, a significant local customer, and abundant water supply.

  • There is sufficient takeaway capacity for the Marcellus Assets, with 285,000 gross MMBtu/day of capacity on the entire position.

  • Reflects the elimination of operating revenues, operating expenses and other expenses of the Upstream Marcellus Assets sold.

  • Reflects the removal of assets and liabilities associated with the divestiture of the Upstream Marcellus Assets, the receipt of$1.0 billion of sales proceeds which is net of customary closing adjustments and an estimated loss of approximately $1.5 billion, net of taxes, arising from the transaction as of March 31, 2017.

  • The Marcellus Assets are located in the northeast portion of the Marcellus Shale, which is the largest natural gas producing field in the United States.

  • The two main sources of water for the Marcellus Assets are an impoundment pond with capacity of 100,000 barrels of fresh water and a permit to extract 23,810 bbls/d from the Susquehanna River through 2017.


More Definitions of Marcellus Assets

Marcellus Assets in the definition of Capital Expenditure, is deleted and the defined term “Appalachia Assets” is substituted therefor. First Amendment to Amended and Restated Credit Agreement
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Related to Marcellus Assets

  • Operating Assets means all merchandise inventories, furniture, fixtures and equipment (including all transportation and warehousing equipment but excluding office equipment and data processing equipment) owned or leased pursuant to Capital Leases by the Company or a Restricted Subsidiary.

  • Business Assets means all tangible and intangible property and assets owned (either directly or indirectly), leased, licensed, loaned, operated or used, including all real property, fixed assets, facilities, equipment, inventories and accounts receivable, by the Corporation and the Subsidiaries in connection with the Business;

  • surplus assets means the assets after payment of the debts and liabilities remaining on a winding-up of the incorporated association and the costs, charges and expenses of the winding-up;

  • Acquisition Assets With respect to an Acquisition, the aggregate net assets as of the effective date of such Acquisition of all Acquired Funds.

  • Sale Assets is defined in Section 5.2(a)(ii).

  • Divestiture Assets means all of Defendants’ rights, titles, and interests in and to:

  • Related Business Assets means assets (other than cash or Cash Equivalents) used or useful in a Similar Business; provided that any assets received by the Issuer or a Restricted Subsidiary in exchange for assets transferred by the Issuer or a Restricted Subsidiary shall not be deemed to be Related Business Assets if they consist of securities of a Person, unless upon receipt of the securities of such Person, such Person would become a Restricted Subsidiary.

  • Midstream Assets means (i) assets used primarily for gathering, transmission, storage, processing or treatment of natural gas, natural gas liquids or other hydrocarbons or carbon dioxide and (ii) equity interests of any Person that has no substantial assets other than assets referred to in clause (i).

  • Contributed Assets shall have the meaning as set forth in Section 2.2.

  • Partnership Assets means all assets, whether tangible or intangible and whether real, personal or mixed (including, without limitation, all partnership capital and interest in other partnerships), at any time owned or represented by any Partnership Interest.

  • Subject Assets is defined in Section 2.2(c).

  • Transferred Assets means the assets, rights and properties of the Sellers that the Purchasers shall acquire as of the Closing.

  • Gross Assets means the total of fixed assets and current assets;

  • Timberlands means, as of any date of determination, all real property owned by or leased to the Borrower or any Subsidiary that is suitable for Timber production, natural resource development or real estate development. For the avoidance of doubt, “Timberlands” shall exclude property, plant and equipment of the Borrower and its Subsidiaries associated with their manufacturing activities.

  • Acquired Assets has the meaning set forth in Section 2.1.

  • Excluded Assets has the meaning set forth in Section 2.2.

  • Productive Assets means assets (including assets of a referent Person owned directly or indirectly through ownership of Capital Stock) of a kind used or useful in the Cable Related Business.

  • Purchased Assets has the meaning set forth in Section 2.1.

  • Receivables and Related Assets means Receivables and any instruments, documents, chattel paper, obligations, general intangibles and other similar assets, in each case, relating to such Receivables.

  • Restricted Assets means all licenses, permits, franchises, approvals or other authorizations from any Governmental Authority from time to time granted to or otherwise held by the Company to the extent the same constitute “Excluded Assets” under (and as defined in) the Senior Lien Documents or the Junior Lien Documents or are similarly carved out from the granting clause or the collateral thereunder.

  • Included Assets has the meaning in Section 5.1(d)(ii)(A).

  • Qualified Assets means any of the following assets: (i) interests, rights, options, warrants or convertible or exchangeable securities of the Partnership; (ii) Debt issued by the Partnership or any Subsidiary thereof in connection with the incurrence of Funding Debt; (iii) equity interests in Qualified REIT Subsidiaries and limited liability companies (or other entities disregarded from their sole owner for U.S. federal income tax purposes, including wholly owned grantor trusts) whose assets consist solely of Qualified Assets; (iv) up to a one percent (1%) equity interest in any partnership or limited liability company at least ninety-nine percent (99%) of the equity of which is owned, directly or indirectly, by the Partnership; (v) cash held for payment of administrative expenses or pending distribution to security holders of the General Partner or any wholly owned Subsidiary thereof or pending contribution to the Partnership; and (vi) other tangible and intangible assets that, taken as a whole, are de minimis in relation to the net assets of the Partnership and its Subsidiaries.

  • Project Assets means all physical and other assets relating to and forming part of the Site including:

  • Securitization Assets means (a) the accounts receivable, royalty or other revenue streams and other rights to payment and other assets related thereto subject to a Qualified Securitization Facility and the proceeds thereof and (b) contract rights, lockbox accounts and records with respect to such accounts receivable and any other assets customarily transferred together with accounts receivable in a securitization financing.

  • Timberland means land, other than land owned by the federal government and land designated by the board as experimental forest land, which is available for, and capable of, growing a crop of trees of a commercial species used to produce lumber and other forest products, including Christmas trees. Commercial species shall be determined by the board on a district basis.