PDNP Reserves definition

PDNP Reserves means Proved Reserves which are categorized as both “Developed” and “Non Producing” in the SPE/WPC Definitions; and “Proved Undeveloped Reserves” or “PUD Reserves” means Proved Reserves which are categorized as “Undeveloped” in the SPE/WPC Definitions.

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PDNP Reserves means proved, developed, non-producing Hydrocarbon reserves, as determined in conformity with the guidelines in effect from time to time as promulgated by the Society of Petroleum Engineers or its successor association.

PDNP Reserves means proved, developed, non-producing reserves of Gas or Oil as shown on the Reserve Report.

Examples of PDNP Reserves in a sentence

The Reserve Report as of December 31 of each year shall be prepared (i) with respect to PDP Reserves, by one or more Approved Petroleum Engineers and (ii) with respect to PDNP Reserves and PUD Reserves, either by Approved Petroleum Engineers or by the Borrower’s internal reserve engineering staff in accordance with the procedures used in the immediately preceding December 31 Reserve Report.
As of any date of determination, an amount equal to the sum of (i) sixty percent (60%) of the PDP Reserves Value, plus (ii) twenty-five percent (25%) of the PDNP Reserves Value, plus (iii) ten percent (10%) of the PUD Reserves Value; provided, however, that the portion of the Advance Rate Reserves Value accounted for under clauses (ii) and (iii) combined may not exceed twenty-five percent (25%) of the Advance Rate Reserves Value.
The Reserve Report will separately report on PDP Reserves, PDNP Reserves and PUD Reserves in accordance with the requirements of Rule 4-10 of Regulation S-X of the Securities and Exchange Commission.
As of the date of determination, the sum of (i) PDP Reserves Value, plus (ii) PDNP Reserves Value, and plus (iii) PUD Reserves Value.
At no time will the Borrower or any Subsidiary hedge (i) for months 1 through 48, more than the greater of (y) 85% of anticipated monthly production from its PDP Reserves and (z) 85% of anticipated monthly production from its Proven Reserves (provided no more than 25% of anticipated monthly production from such Proven Reserves may be attributable to PDNP Reserves or PUD Reserves) and (ii) for months 49 through 60, more than 85% of anticipated monthly production from its PDP Reserves.
The Reserve Report will separately report on PDP Reserves, PDNP Reserves and PUD Reserves, and will be prepared in accordance with the requirements of Rule 4-10 of Regulation SX of the Securities and Exchange Commission.
At no time will Borrower or any Subsidiary hedge (i) for months 1 through 48, more than 85% of anticipated monthly production from its Proven Reserves (provided no more than 25% of anticipated monthly production from such Proven Reserves may be attributable to PDNP Reserves or PUD Reserves) and (ii) for months 49 through 60, more than 85% of anticipated monthly production from its PDP Reserves.
Nothing in this Section 2.6 shall be construed to afford Grantee rights in PDP Reserves or PDNP Reserves identified in well▇ ▇▇▇t are not now located on the Hydrocarbon Interests.

More Definitions of PDNP Reserves

PDNP Reserves means “proved developed non-producing oil and gas reserves” as such term is defined by the SPE in its standards and guidelines.

PDNP Reserves means the Hydrocarbon Interests designated as “proved developed non-producing” (in accordance with the Definitions for Oil and Gas Reserves approved by the Board of Directors of the Society of Petroleum Engineers, Inc. from time to time) in the most recently delivered Reserve Report.

PDNP Reserves means proved developed nonproducing reserves, as defined in the SPE Definitions.

PDNP Reserves means reserves classified as proved developed non-producing reserves in a Lenders’ Technical Report in accordance with the principles approved by the board of directors of the Society of Petroleum Engineers, Inc. and the executive board of the World Petroleum Congress in March 1997.

PDNP Reserves. PUD Reserves" and "SEC 10 Present Value" are hereby added to Section 1.1 of the Original Agreement, to read as follows:

PDNP Reserves means Proved Reserves which are categorized as "Developed non-producing reserves" in the COGEH Definitions.