Participating Area Expense definition

Participating Area Expense means all costs, expenses or indebtedness, which are incurred by the Unit Operator for production from or operations in a Participating Area and allocated to the Unit Tracts in that Participating Area.
View Source

Examples of Participating Area Expense in a sentence

  • Allocations of Unit Expense, Participating Area Expense, or Unitized Substances for determining, settling and paying royalties and net profit share payments will be based on Exhibits C, E and F of this Agreement, and must be approved by the Commissioner in writing before taking effect.

  • Allocations of Unit Expense, Participating Area Expense, and unit production will be consistent with Exhibits C, E, and F of this Agreement including for the purpose of determining, settling, and paying royalties and net profit share payments.

  • If the Working Interest Owners allocate Unitized Substances, Participating Area Expense, or Unit Expense differently than described in Exhibits C, E, and F, that allocation will not be binding on the State or effective for determining royalty or net profit share payments.