Permian Basin Properties definition

Permian Basin Properties means Oil and Gas Properties and undeveloped acreage owned by any Issuer or Guarantor located in the Permian Basin of Texas and New Mexico.
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Permian Basin Properties means the Oil and Gas Properties listed on Schedule 1.01.
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Permian Basin Properties shall have the meaning assigned to such term in the Description of Notes.
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Examples of Permian Basin Properties in a sentence

  • Notwithstanding the foregoing, the Oil and Gas Borrowing Base may be subject to further adjustments from time to time pursuant to Section 2.07(e), Section 8.13(c) or Section 9.13 and upon the sale of the Permian Basin Properties, the then effective Oil and Gas Borrowing Base shall be reduced by $200,000,000.

  • The Permian Basin Properties consist primarily of approximately 21,900 gross leasehold acres (21,500 net acres) in the West Texas Permian Basin.

  • The following table presents certain unaudited pro forma information concerning W&T’s proved oil and natural gas reserves as of December 31, 2010 assuming the acquisition of the Permian Basin Properties occurred on January 1, 2010.

  • The unaudited pro forma condensed combined balance sheet was prepared assuming the purchase of the Permian Basin Properties, including purchase price adjustments to date, and assumed related financing transaction occurred on March 31, 2011.

  • As such, this financial statement is not intended to be a complete presentation of the revenues and expenses of the Permian Basin Properties and is not indicative of the financial condition or results of the operation of the Permian Basin Properties going forward due to the changes in the business and the omission of various operating expenses as described above.

  • The unaudited pro forma condensed combined statements of income (loss) were prepared assuming the purchase of the Permian Basin Properties, including purchase price adjustments to date, and assumed related financing transaction occurred on January 1, 2010.

  • Incremental transaction expenses related to the purchase of Permian Basin Properties were $0.3 million and were assumed to be funded from cash on hand.

  • Direct Operating Expenses – Direct operating expenses are recognized when incurred and are net working interest expenses related to the Permian Basin Properties.

  • During the period presented, the Permian Basin Properties were not accounted for as a separate division or legal entity by Opal, therefore, certain costs such as depreciation, depletion and amortization, accretion of asset retirement obligations, general and administrative expenses, interest, and corporate income taxes were not allocated to the individual properties.

  • The accompanying audited statement includes revenues from oil, natural gas liquids and natural gas production and direct lease operating expenses associated with the Permian Basin Properties.

Related to Permian Basin Properties

  • Common Properties means and refer to those areas of land shown on any recorded subdivision plat of The Properties and intended to be devoted to the common use and enjoyment of the owners of The Properties.

  • Subject Properties has the meaning specified in Section 5.13(a).

  • Property Owners association" or "association" means an incorporated or unincorporated entity upon

  • 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.

  • Real Properties means, at any time, a collective reference to each of the facilities and real properties (including the Borrowing Base Properties) owned or leased by the Consolidated Parties at such time.

  • Initial Properties means collectively the Properties listed on Schedule 1.1 and “Initial Property” means any of such Properties.

  • Hotel Property means a Property on which there is located an operating hotel.

  • Owned Real Properties has the meaning set forth in Section 3.16(b).

  • Leased Properties has the meaning set forth in Section 3.1(n)(ii).

  • Owned Properties has the meaning set forth in Section 3.16.

  • Excluded Properties the collective reference to the fee or leasehold interest in real properties owned by the Parent Borrower or any of its Subsidiaries not described in Schedule 5.8.

  • 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.

  • Unimproved Real Property means Property in which the Company has an equity interest that was not acquired for the purpose of producing rental or other operating income, that has no development or construction in process and for which no development or construction is planned, in good faith, to commence within one (1) year.

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Real Property Interests means all interests in real property of whatever nature, including easements, whether as owner or holder of a Security Interest, lessor, sublessor, lessee, sublessee or otherwise.

  • Property Owner means any person shown as the owner of land on the last equalized assessment roll or otherwise known to be the owner of land by the city council. “Business owner” means any person recognized by the city as the owner of the business. “Owner” means either a business owner or a property owner. The city council has no obligation to obtain other information as to the ownership of land or businesses, and its determination of ownership shall be final and conclusive for the purposes of this part. Wherever this part requires the signature of the property owner, the signature of the authorized agent of the property owner shall be sufficient. Wherever this part requires the signature of the business owner, the signature of the authorized agent of the business owner shall be sufficient.

  • Leaseholds of any Person means all the right, title and interest of such Person as lessee or licensee in, to and under leases or licenses of land, improvements and/or fixtures.

  • Partnership Property means any property, real, personal or mixed, or any interest therein or appurtenant thereto which may be owned or acquired by the Partnership.

  • Borrowing Base Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

  • Project Land means any parcel or parcels of land on which the project is developed and constructed by a promoter;

  • The Properties means and refer to all such existing properties, and additions thereto, as are subject to this Declaration or any Supplemental Declaration under the provisions of Article II, hereof.

  • Other Properties shall have the meaning set forth in Section 9.1.

  • Real Estate Assets means any investment by the Company or the Operating Partnership in unimproved and improved Real Property (including fee or leasehold interests, options and leases), directly, through one or more subsidiaries or through a Joint Venture.

  • Unimproved Land means land on which no development (other than improvements that are not material and are temporary in nature) has occurred.