Petroleum Property definition

Petroleum Property means any interest of the Issuer or any Subsidiary in oil and gas reserves and assets consisting primarily of gas gathering, processing and storage facilities and transmission pipelines.
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Petroleum Property means (i) any interest of the Borrower or any Subsidiary in oil and gas reserves and assets consisting primarily of gas gathering and transmission pipelines which is, or is to be, taken into account in the determination of the Debt Limit pursuant to Section 5.10 or the annual coverage ratio pursuant to Section 5.13 and (ii) any Section 29 Transaction PPI provided that (a) such Section 29 Transaction PPI constitutes a production payment within the meaning of the Bankruptcy Reform Act of 1994 and (b) such Section 29 Transaction PPI is filed, recorded or otherwise perfected under applicable law so as to be fully protected from all creditors and transferees of the grantor thereof.
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Petroleum Property means any interest of a Subsidiary in oil and gas reserves and assets consisting primarily of gas gathering, processing and storage facilities and transmission pipelines.
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Examples of Petroleum Property in a sentence

  • Subject to the provisions of this Agreement, and for the consideration herein stated, Forestar Petroleum agrees to sell to Purchaser the Forestar Petroleum Property (as hereinafter defined), Forestar (USA) agrees to sell to Purchaser the Forestar (USA) Property (as hereinafter defined), and Purchaser agrees to buy the same from Sellers.

  • Xxxxxx Title: Chief Financial Officer By: Sunoco Retail LLC By: Susser Petroleum Property Company LLC By: Sunoco, LLC By: /s/ Xxxxxx X.

  • Xxxxx Title: President and Chief Executive Officer By: Susser Petroleum Property Company LLC, its sole member By: Susser Petroleum Operating Company LLC, its sole member By: /s/ Xxxxxx X.

  • The Borrower will not abandon any Petroleum Property capable of production in paying quantities.

  • Xxxxxxxx Title: Executive Vice President MACS Retail LLC By: Mid-Atlantic Convenience Stores, LLC By: Susser Petroleum Property Company LLC By: Susser Petroleum Operating Company LLC By: /s/ Xxxx X.

  • Xxxxx Title: President and Chief Executive Officer By: Mid-Atlantic Convenience Stores, LLC, its sole member By: Susser Petroleum Property Company LLC, its sole member By: Susser Petroleum Operating Company LLC, its sole member By: /s/ Xxxxxx X.

  • EXPLORATION AND EVALUATION ASSETS (continued) Petroleum Property Interests (continued)D&H Solutions AS (“D&H”)On March 21, 2011, the Company signed a memorandum of understanding (the "MoU") to conduct due diligence, and if a suitable target is identified, to form a special purpose vehicle (the "SPV") with D&H Solution AS (“D&H”) to further evaluate the identified oil and gas opportunities in Nigeria, and if suitable, negotiate an agreement to acquire and develop` such assets.

  • Xxxxxxxx Executive Vice President, Chief Financial Officer and Treasurer By: Susser Petroleum Property Company LLC, its sole member By: Susser Petroleum Operating Company LLC, its sole member By: /s/ Xxxx X.

  • Smith, The Economic Evolution of Petroleum Property Rights in the United States, 31 J.

  • Delaware None Susser Petroleum Operating Company LLC Delaware Arkansas Kansas Louisiana New Mexico Oklahoma Texas Susser Petroleum Property Company LLC Delaware Texas T&C Wholesale LLC Texas None Susser Energy Services LLC Texas Arkansas KansasNew Mexico Oklahoma Mid-Atlantic Convenience Stores, LLC Delaware Maryland Virginia Southside Oil, LLC Virginia Delaware Georgia Kentucky Maryland New Jersey Pennsylvania Tennessee West Virginia MACS Retail LLC Virginia Georgia Tennessee Aloha Petroleum, Ltd.


More Definitions of Petroleum Property

Petroleum Property means any interest of the Borrower or any Subsidiary of the Borrower in Proved Reserves.
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Petroleum Property means any interest in oil and gas reserves (including without limitation any production payment with respect to any such reserves) which is, or is to be taken into account in the determination of the Debt Limit pursuant to Section . "Plan" means at any time an employee pension benefit plan (other than a Multiemployer Plan) which is covered by Title IV of ERISA or subject to the minimum funding standards under Section 412 of the Code and either (i) is maintained, or contributed to, by any member of the Controlled Group for employees of any member of the Controlled Group or (ii) has at any time within the preceding five years been maintained, or contributed to, by any Person which
Sample 1

Related to Petroleum Property

  • Mining Property means a property used for mining operations as defined in the Mineral and Petroleum Resources Development Act, 2002 (Act No. 28 of 2002);

  • Petroleum refinery means each facility engaged in producing gasoline, kerosene, distillate fuel oils, residual fuel oils, lubricants, or other products through distillation of petroleum or through redistillation, cracking, extracting, or reforming of unfinished petroleum derivatives.

  • 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.

  • Petroleum Products means gasolines and petroleum oil distillates or blend stocks as further described in Item 10.

  • Petroleum product means crude oil, petroleum, refined petroleum products, byproducts and intermediate feed stocks, and other energy-related commodities, including, without limitation, blend components commonly used in the petroleum industry to improve characteristics of, or meet governmental or customer specifications for, petroleum or refined petroleum products.

  • Petroleum Substances means petroleum, natural gas, natural gas liquids, related hydrocarbons and any and all other substances, whether liquid, solid or gaseous, whether hydrocarbons or not, produced or producible in association with any of the foregoing.

  • Agricultural property means property that is used primarily for agricultural purposes but, without derogating from section 9 of the Act, excludes any portion thereof that is used commercially for the hospitality of guests, and excludes the use of the property for the purpose of eco-tourism or for the trading in or hunting of game;

  • hazardous properties means radioactive, toxic or explosive properties.

  • Petroleum Operations means, as the context may require, Exploration Operations, Development Operations or Production Operations or any combination of two or more of such operations, including construction, operation and maintenance of all necessary facilities, plugging and abandonment of Xxxxx, safety, environmental protection, transportation, storage, sale or disposition of Petroleum to the Delivery Point, Site Restoration and any or all other incidental operations or activities as may be necessary.

  • 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.

  • Condominium Property means the lands, leaseholds, and personal property that are subjected to condominium ownership, whether or not contiguous, and all improvements thereon and all easements and rights appurtenant thereto intended for use in connection with the condominium.

  • Common Property means any and all real and personal property and easements and other interests therein, together with the facilities and improvements located thereon, now or hereafter owned by the Association for the common use and enjoyment of the Owners.

  • Subject Property means any premises located in the County on which an energy efficiency improvements, water efficiency improvements, or renewable resource applications are being or have been made and financed through an outstanding PACE loan.

  • Oil and Gas Leases means all leases, subleases, licenses or other occupancy or similar agreements (including any series of related leases with the same lessor) under which a Person leases, subleases or licenses or otherwise acquires or obtains rights to produce Hydrocarbons from real property interests.

  • Adjoining Property means all sidewalks, driveways, curbs, gores and vault spaces adjoining any of the Leased Premises.

  • Rental Property means a hotel room, vacation home, or other rental property You booked for Your stay during Your Trip.

  • Project Property means the real property on or for which preconstruction service or construction work is or will be provided.

  • the Property means the Property more particularly described in Condition 2 of the Conditions of Sale (as defined in 1.6 below);

  • 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.

  • Minerals means any and all ores (and concentrates derived therefrom) and minerals, precious and base, metallic and nonmetallic, in, on or under the Property which may lawfully be explored for, mined and sold.

  • Oil and Gas Properties means (a) Hydrocarbon Interests; (b) the Properties now or hereafter pooled or unitized with Hydrocarbon Interests; (c) all presently existing or future unitization, pooling agreements and declarations of pooled units and the units created thereby (including without limitation all units created under orders, regulations and rules of any Governmental Authority) which may affect all or any portion of the Hydrocarbon Interests; (d) all operating agreements, contracts and other agreements, including production sharing contracts and agreements, which relate to any of the Hydrocarbon Interests or the production, sale, purchase, exchange or processing of Hydrocarbons from or attributable to such Hydrocarbon Interests; (e) all Hydrocarbons in and under and which may be produced and saved or attributable to the Hydrocarbon Interests, including all oil in tanks, and all rents, issues, profits, proceeds, products, revenues and other incomes from or attributable to the Hydrocarbon Interests; (f) all tenements, hereditaments, appurtenances and Properties in any manner appertaining, belonging, affixed or incidental to the Hydrocarbon Interests and (g) all Properties, rights, titles, interests and estates described or referred to above, including any and all Property, real or personal, now owned or hereinafter acquired and situated upon, used, held for use or useful in connection with the operating, working or development of any of such Hydrocarbon Interests or Property (excluding drilling rigs, automotive equipment, rental equipment or other personal Property which may be on such premises for the purpose of drilling a well or for other similar temporary uses) and including any and all oil xxxxx, gas xxxxx, injection xxxxx or other xxxxx, buildings, structures, fuel separators, liquid extraction plants, plant compressors, pumps, pumping units, field gathering systems, tanks and tank batteries, fixtures, valves, fittings, machinery and parts, engines, boilers, meters, apparatus, equipment, appliances, tools, implements, cables, wires, towers, casing, tubing and rods, surface leases, rights-of-way, easements and servitudes together with all additions, substitutions, replacements, accessions and attachments to any and all of the foregoing.

  • Environmental Problem Property A Mortgaged Property or REO Property that is in violation of any environmental law, rule or regulation.

  • Oil ’ means oil of any kind or in any form, including, but not limited to, petroleum, fuel oil, sludge, oil refuse, and oil mixed with wastes other than dredged spoil;

  • Historic property means any prehistoric or historic site, district, building, object, or other real or personal property of historical, architectural, or archaeological value, and folklife resources. These properties or resources may include, but are not limited to, monuments, memorials, Indian habitations, ceremonial sites, abandoned settlements, sunken or abandoned ships, engineering works, treasure trove, artifacts, or other objects with intrinsic historical or archaeological value, or any part thereof, relating to the history, government, and culture of Florida.

  • Plant Site (Works, Factory) means the local integration of one or more plants, with any intermediate administrative levels, which are under one operational control, and includes common infrastructure, such as:

  • Water well means an excavation that is drilled, cored, bored, augered, washed, driven, dug, jetted, or otherwise constructed for the purpose of exploring for groundwater, monitoring groundwater, utilizing the geothermal properties of the ground, or extracting water from or injecting water into the aquifer. “Water well” does not include an open ditch or drain tiles or an excavation made for obtaining or prospecting for oil, natural gas, minerals, or products mined or quarried.