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.
Sample 1Sample 2
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.
Sample 1Sample 2Sample 3
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.
Sample 1

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.

  • 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.

  • 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.

  • The Production Imbalances reflected on Schedule 6.01(i) are, to Seller’s knowledge, (A) all of the material Production Imbalances affecting the Assets as of dates set forth on such Schedule, and (B) true and correct in all material respects.

  • If ASSIGNOR and ASSIGNEE determine no later than 180 days after Closing that the assumed Production Imbalances stated in Exhibit F are inaccurate, the parties agree to exchange additional compensation, at the rate provided in Exhibit F for the difference between the assumed Production Imbalances and the revised Production Imbalances determined by the parties.

  • 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.

  • 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").

  • 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 XXXx. 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 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.
Sample 1
Production Imbalances has the meaning set forth in Section 11.1.
Sample 1

Related to Production Imbalances

  • Imbalances means over-production or under-production or over-delivery or under-delivery with respect to Hydrocarbons produced from the Properties, regardless of whether the same arise at the wellhead, pipeline, gathering system, transportation system, processing plant, or any other location, including any imbalances under gas balancing or similar agreements, production handling agreements, processing agreements, and/or gathering or transportation agreements.

  • Imbalance means the difference between Deliveries to KUB for a Customer and Redeliveries by KUB to the Customer.

  • Production Burdens means any royalties (including lessor’s royalties), overriding royalties, production payments, net profit interests or other similar interests that constitute a burden on, and are measured by or are payable out of, the production of Hydrocarbons or the proceeds realized from the sale or other disposition thereof (including any amounts payable to publicly traded royalty trusts), but excluding Taxes and assessments of Governmental Entities.

  • Imbalance Charges means any fees, penalties, costs or charges (in cash or in kind) assessed by a Transporter for failure to satisfy the Transporter's balance and/or nomination requirements.

  • Imbalance Energy means the amount of energy in MWh, in any given Settlement Period or Settlement Interval, by which the amount of Facility Energy deviates from the amount of Scheduled Energy.

  • Production Area means that part of the animal feeding operation that includes the animal confinement area, the manure storage area, the raw materials storage area, and the waste containment areas. The animal confinement area includes, but is not limited to, open lots, housed lots, feedlots, confinement houses, stall barns, free stall barns, milkrooms, milking centers, egg washing or egg processing areas, areas used for the storage and disposal/treatment of mortalities, cowyards, barnyards, medication pens, walkers, animal walkways, and stables. The manure storage area includes, but is not limited to, lagoons, runoff ponds, storage sheds, stockpiles, under-house or pit storages, liquid impoundments, static piles, and composting piles. The raw materials storage area includes, but is not limited to, feed silos, and silage bunkers. The waste containment area includes, but is not limited to, settling basins and areas within berms and diversions which separate uncontaminated stormwater.

  • Supply Point means the point of connection between the licensed network and your apparatus or equipment.

  • Product Group or “the Group” means a group of lotteries that has joined together to offer a product pursuant to the terms of the Multi-State Lottery Agreement and the Product Group’s own rules.

  • Hydrocarbon means a compound consisting of hydrogen and carbon, which, when naturally occurring, may also contain other elements such as sulphur;

  • Contract Price(s) means the price(s) tendered by the contractor and accepted by the Council for the execution of the contract.

  • Postproduction means an activity related to the finishing or duplication of a medium described in Subsection 59-12-104(54)(a).

  • Total hydrocarbons (THC) means the sum of all volatile compounds measurable by a flame ionization detector (FID).

  • Contract Quantity means the quantity of Gas to be delivered and taken as agreed to by the parties in a transaction.

  • Hydrocarbons means oil, gas, casinghead gas, drip gasoline, natural gasoline, condensate, distillate, liquid hydrocarbons, gaseous hydrocarbons and all products refined or separated therefrom.

  • Delivery Points means: (i) for natural gas transported by interstate pipelines, the city gate stations of your Utility, and (ii) for electricity, one or more points at which Company, as your agent, has arranged for the delivery of electricity to a third party (such as your Utility) for your account or at your premises.

  • Production Facilities (7 9) means "production equipment" and specially designed software therefor integrated into installations for "development" or for one or more phases of "production".

  • Production Costs means the cost of the following:

  • The Contract Price/Project Cost means the price payable to the Vendor under the Contract for the full and proper performance of its contractual obligations.

  • Daily Contract Quantity or “DCQ” means the quantity of Gas as set out in Clause 4.1 herein.

  • Total Contract Price/Project Cost/TCO means the price payable to Service Provider over the entire period of Contract for the full and proper performance of its contractual obligations.

  • Environmental Attribute means an aspect, claim, characteristic or benefit associated with the generation of a quantity of electricity by a Renewable Energy Facility, other than the electric energy produced, and that is capable of being measured, verified or calculated. An Environmental Attribute may include one or more of the following identified with a particular megawatt hour of generation by a Renewable Energy Facility designated prior to Delivery: the Renewable Energy Facility’s use of a particular Renewable Energy Source, avoided NOX, SO X, CO2 or greenhouse gas emissions, avoided water use (but not water rights or other rights or credits obtained pursuant to requirements of Applicable Law in order to site and develop the Renewable Energy Facility itself) or as otherwise defined under an Applicable Program, or as agreed by the Parties. Environmental Attributes do not include production tax credits or other direct third-party subsidies for generation of electricity by any specified Renewable Energy Facility.

  • Delivery Point means the point(s) of connection(s) at which energy is delivered into the Grid System i.e. the Interconnection Point.

  • Environmental Attributes means any emissions and renewable energy credits, energy conservation credits, benefits, offsets and allowances, emission reduction credits or words of similar import or regulatory effect (including emissions reduction credits or allowances under all applicable emission trading, compliance or budget programs, or any other federal, state or regional emission, renewable energy or energy conservation trading or budget program) that have been held, allocated to or acquired for the development, construction, ownership, lease, operation, use or maintenance of the Company as of: (i) the date of this Agreement; and (ii) future years for which allocations have been established and are in effect as of the date of this Agreement.

  • Total Contract Price/Project Cost/TCO means the price payable to Service Provider over the entire period of Contract for the full and proper performance of its contractual obligations.

  • Inventories means “Inventories” as defined in the Uniform System of Accounts, such as, but not limited to, provisions in storerooms, refrigerators, pantries and kitchens; beverages in wine cellars and bars; other merchandise intended for sale; fuel; mechanical supplies; stationery; and other expensed supplies and similar items.

  • Production equipment (1 7 9) means tooling, templates, jigs, mandrels, moulds, dies, fixtures, alignment mechanisms, test equipment, other machinery and components therefor, limited to those specially designed or modified for "development" or for one or more phases of "production".