Production Imbalances definition

Production Imbalances means gas imbalances and make-up obligations related to the Assets regardless of whether such imbalances or make-up obligations arise before or after the Effective Time, at the wellhead, pipeline, gathering system or other location, and regardless of whether the same arise under contract or otherwise.

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Production Imbalances means any over-production or under-production of Hydrocarbons attributable to any interest of any Company in any well located in the Units or on the lands covered by the Leases or lands spaced, pooled, or unitized therewith, which, as a result thereof, the Company was out of balance with any other Person as of the Effective Date.

Production Imbalances means net amounts, in cash or in kind, either due to or owed from the Companies or Subsidiaries for over-production or under-production from any Oil and Gas Properties.

Examples of Production Imbalances in a sentence

Subject to the provisions of Section 3.02(b), to Seller’s knowledge, there are no Production Imbalances as of the Effective Time as to any of the Subject Interests.
Except as set forth in Schedule 1.02(g) and subject to the provisions of Section 3.02(b), to Seller’s knowledge, there are no material Production Imbalances as of the Effective Time as to any of the Subject Interests.
Such settlement shall be final and neither party thereafter shall make claim upon the other concerning any Production Imbalances with respect to the Property.
Upon Closing, Buyer shall assume the positions of Seller with respect to all gas imbalances and make-up obligations related to the Assets regardless of whether such imbalances or make-up obligations arise before or after the Effective Time, at the wellhead, pipeline, gathering system or other location, and regardless of whether the same arise under contract or otherwise ("Production Imbalances").
Except as set forth in Schedule 1.02(g), to Seller’s knowledge, there are no material Production Imbalances as of the Effective Time as to any of the Subject Interests.
To Seller’s Knowledge, Schedule 3.2.5 sets forth any Production Imbalances and the source of such Production Imbalance as of the Execution Date.
Except as set forth on Schedule 3.2.10 and Production Imbalances, no Person has any call upon any portion of the Hydrocarbons produced from any Property from and after the Effective Time.
The Purchase Price paid by ASSIGNEE is based on (i) the assumed Production Imbalances set forth in Exhibit F and (ii) the exclusion from this transaction of any imbalances attributable to the Property downstream of the Property or at gas processing plants including associated make-up or cash settlement rights.
Until such time as the Processor OBA is executed, Production Imbalances shall be settled between Processor and Producer in the same manner that imbalances are settled in the Takeaway Pipeline ▇▇▇▇.
Processor shall provide an invoice to Producer for settlement of Production Imbalances in accordance with this Section II along with documentation to substantiate the data on the invoice.

More Definitions of Production Imbalances

Production Imbalances has the meaning set forth in Section 11.1.

Production Imbalances means any over-production or under-production with respect to oil or gas produced from or allocated to the Assets, where Seller as of the Effective Date is out of balance with: (1) The Operator. (2) Other working interest parties in the Assets. (3) Third parties pursuant to a production handling agreement.