Production Revenue definition
Examples of Production Revenue in a sentence
By acceptance of this Conveyance, Assignee agrees, for itself and its successors and assigns, immediate and remote, that the timing of payment, accrual of interest and reporting requirements with respect to the Royalty Interest shall be as provided by the terms of this Conveyance and not as prescribed by the Oklahoma Production Revenue Standards Act, as amended, codified at Title 52, Section 570.1, et seq.
By acceptance of this Conveyance, Assignee agrees, for itself and its successors and assigns, immediate and remote, that the timing of payment, accrual of interest and reporting requirements with respect to the Royalty Interest shall be as provided by the terms of this Conveyance and not as prescribed by [the Oklahoma Production Revenue Standards Act, as amended, codified at Title 52, Section 570.1, et seq.
These fees will be paid out from the Production Budget as well as Production Revenue.
Pay, incur, or otherwise become obligated to pay General and Administrative Expenses which exceed eight percent (8%) of Borrower's Production Revenue during any fiscal quarter beginning with the quarter commencing July 1, 2000, and continuing through the end of the fiscal quarter during which the Anticipated Property Sale is completed, and thereafter, such percentage shall be increased from eight percent (8%) to ten percent (10%).
If such performed audit results in any substantial change to the Net Production Revenue Statement, all costs of such audit shall be to Contractor’s account.
The Contractor will have up to the 30th June of the year following the calculating calendar year of the Gross Production Revenue to employ the application of these funds.
If the Drilling and Completion Costs of the Obligation ▇▇▇▇▇ exceed US$25 million and those excess costs have been paid by the Operator then the Investor shall be entitled to share in Production Revenue from the Obligation ▇▇▇▇▇ in accordance with the following formula minus the costs referred to in Clause 5(1)(a), (b) and (c): US$ 25 million / Total Drilling and Completion Cost for Obligation ▇▇▇▇▇ * Production Revenue entitlement percentages set out in Clause 5(1).
The Seller offers and agrees to sell, and the Buyer offers and agrees to purchase all of Seller’s right, title and interest in and to Fifty Percent (50%) of the Seller’s right, title and interest in and to its share of the Net Production Revenue generated from the Peruvian Huaya Anticline Project, Block 100, oil prospect located in Loreto Department, Peru, Ucayali Basin, being Ten point Thirty-Five Percent (10.35%) of Total Production Revenue.
No item will be taken into account more than once in the calculation of the Production Revenue.
From and after the execution of this Agreement, Purchaser will, on a monthly basis and without offset other than monthly operating expenses, release to Seller all Production Revenue that is attributable to hydrocarbons produced and sold from the oil and gas ▇▇▇▇▇ listed on Schedule B(4).