Point Thomson Unit definition

Point Thomson Unit has the meaning set forth in Section 3.
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Point Thomson Unit means the oil and gas leases and described land located on the North Slope of Alaska as may exist from time to time from which oil, gas and associated substances are developed and produced on a unitized basis under the terms of the Unit Agreement for the Development and Operation of the Point Thomson Unit with the State of Alaska, dated March 1, 1977 and the Unit Operating Agreement Point Thomson Unit Area by and between the Working Interest Owners of the Point Thomson Unit, dated March 1, 1977, each as amended from time to time.
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Examples of Point Thomson Unit in a sentence

  • Such acreage shall remain in the Point Thomson Unit following formation of the Initial PA, and thereafter shall be subject to elimination from the Point Thomson Unit in accordance with the terms of the PTUA including applicable State law, including Section 2(e).

  • The WIOs appealed this decision to the Commissioner of DNR (“Commissioner”), who affirmed the default decision, rejected the WIOs’ proposed POD, and terminated the Point Thomson Unit on November 27, 2006, which was affirmed upon reconsideration by the Commissioner on December 27, 2006.

  • This Paragraph 4.5 describes various development scenarios that could be present at year-end 2019, and the implications for acreage in the Point Thomson Unit.

  • By signing this Agreement, the Parties confirm that the Point Thomson Unit, the PTUA, and the Point Thomson Unit Operating Agreement have remained in effect since originally approved, and remain in effect as of the date of this Agreement as modified by this Agreement.

  • If the lessees fail to submit a POO for the leases within sixty (60) days following Point Thomson Unit termination, or the Commissioner denies approval of the POO, the leases shall terminate with acreage returning to the State Without Appeal.

  • If IPS Project Start-up has occurred and a Major Gas Sale has been Sanctioned by year-end 2019, then all acreage, except as set forth in Paragraph 4.7, shall remain in the Point Thomson Unit at year-end 2019 and shall be entitled to be included in a PA as set forth in Paragraphs 4.4.2 and 4.5.1.

  • Since the discovery of the field, the Point Thomson owners have drilled 19 exploration / delineation xxxxx in the Point Thomson area, and recently completed the drilling of two additional xxxxx, the PTU 15 and PTU 16, to initiate production from the Point Thomson Unit consistent with this Agreement.

  • If IPS Project Start-up has not occurred and the Initial PA has not been formed, but a Major Gas Sale is Sanctioned, such acreage shall remain in the Point Thomson Unit and shall be subject to elimination from the Point Thomson Unit in accordance with the terms of the PTUA including applicable State law, including Section 2(e), as if the Initial PA had been formed effective May 1, 2016.

  • If IPS Project Start-up has not occurred and a Major Gas Sale is Sanctioned prior to year-end 2019, any acreage that contracts from the Point Thomson Unit under Paragraph 4.2 of this Agreement shall not be recommitted to the Point Thomson Unit.

  • The WIOs confirm that any leases not set forth on Exhibits A and B that formerly may have been included in the Point Thomson Unit have expired and the acreage has been released and returned to the State.

Related to Point Thomson Unit

  • Cogeneration unit means a unit that has equipment used to produce electric energy and forms of useful thermal energy (such as heat or steam) for industrial, commercial, heating or cooling purposes, through the sequential use of energy.

  • Generation Unit means a facility that converts a fuel or an energy resource into electrical energy.

  • Point source means any discernible, confined, and discrete conveyance, including but not limited to any pipe, ditch, channel, tunnel, conduit, well, discrete fissure, container, rolling stock, concentrated animal feeding operation, vessel, or other floating craft from which pollutants are or may be discharged. This term does not include return flows from irrigated agriculture.

  • GP Unit means a Partnership Unit which is designated as a GP Unit of the Partnership.

  • FTPS Unit means Units which are purchased through the Fund/SERV(R) trading system or on a manual basis through FTP Services LLC or for which FTP Services LLC is acting as FTPS Unit Servicing Agent.

  • Production Unit means a facility for generation of electricity made up of a single generation unit or of an aggregation of generation units;

  • General Partner Unit means a fractional part of the General Partner Interest having the rights and obligations specified with respect to the General Partner Interest. A General Partner Unit is not a Unit.

  • NGLs means natural gas liquids.

  • Partnership Unit Economic Balance means (i) the Capital Account balance of the General Partner plus the amount of the General Partner’s share of any Partner Minimum Gain or Partnership Minimum Gain, in each case to the extent attributable to the General Partner’s Partnership Units divided by (ii) the number of the General Partner’s Partnership Units.

  • Living unit means a room, apartment, cottage, or other area within a facility set aside for the exclusive use or control of one or more identified residents.

  • Partnership Unit means a fractional, undivided share of the Partnership Interests of all Partners issued hereunder. The allocation of Partnership Units among the Partners shall be as set forth on Exhibit A, as may be amended from time to time.

  • OP Unit means a Partnership Unit which is designated as an OP Unit of the Partnership.

  • NGL means natural gas liquids.

  • Class A Unit means any Partnership Unit that is not specifically designated by the General Partner as being of another specified class of Partnership Units.

  • Membership Fee means the membership fee which the Core Member (or, in case of juvenile, through his or her legal parent or legal guardian) shall remit to the Company for enrollment of the Membership, which is to be discussed more particularly in detail under Clause 5.1.

  • Carbon regeneration unit means any enclosed thermal treatment device used to regenerate spent activated carbon.

  • sub-unit means, with respect to any currency other than euro, the lowest amount of such currency that is available as legal tender in the country of such currency and, with respect to euro, means one cent.

  • Membership Unit means an outstanding common membership unit of the LLC.

  • Generating Unit means one or more generating equipment combinations typically consisting of prime mover(s), electric generator(s), electric transformer(s), steam generator(s) and air emission control devices.

  • Camping unit means an area intended and used for:

  • OP Unit Economic Balance has the meaning set forth in Section 6.03(c) hereof.

  • Partnership Record Date means the record date established by the General Partner for a distribution pursuant to Section 5.1(a) hereof, which record date shall be the same as the record date established by the General Partner for a distribution to its stockholders of some or all of its portion of such distribution.

  • R-point means a reference point defined for each seat by the manufacturer in relation to the vehicle's structure, as indicated in Annex 6 to Regulation No.94

  • Common Unit Economic Balance means (i) the Capital Account balance of the General Partner, plus the amount of the General Partner’s share of any Partner Minimum Gain or Partnership Minimum Gain, in either case to the extent attributable to the General Partner’s ownership of Partnership Common Units and computed on a hypothetical basis after taking into account all allocations through the date on which any allocation is made under Section 6.2.D hereof, divided by (ii) the number of the General Partner’s Partnership Common Units.

  • Spending unit means the department, bureau, division, office, board, commission,

  • Rooming unit means any room or group of rooms forming a single habitable unit used or intended to be used for living and sleeping, but not for cooking or eating purposes.