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Proved Producing Reserves definition

Proved Producing Reserves means those oil and gas reserves estimated as recoverable under current technology and existing economic conditions from that portion of a reservoir which can be reasonably evaluated as economically productive on the basis of analysis of drilling, geological, geophysical and engineering data, including reserves to be obtained by enhanced recovery processes demonstrated to be economic and technically successful in the subject reservoir and which are actually on production;
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Proved Producing Reserves means Proved Reserves that are recoverable from existing xxxxx with current operating methods and expenses and are producing.
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Proved Producing Reserves means, with respect to the Oil and Gas Properties covered under the most recent Reserve Report delivered to the Administrative Agent and any Oil and Gas Properties acquired by the Loan Parties after the effective date H-979305v2 Seventh Amendment of such Reserve Report, the reasonably anticipated production for each month for the total Oil and Gas classified as “proved producing” for such Oil and Gas Properties.
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Examples of Proved Producing Reserves in a sentence

  • In addition to the Borrower's covenants found in Schedule A hereto, the Borrower will not sell, convey or otherwise dispose of any of its Proved Producing Reserves or related facilities, other than in the normal course of business and on arm's length terms, provided that, if cumulative proceeds of all dispositions to be received by the Borrower exceed $1,000,000 in any calendar year, such proceeds will be used to permanently repay the Principal Indebtedness, unless other arrangements are made with CIBC.

  • The Additional Proved Producing Reserves shall be included in the next Reserve Report prepared in accordance with Section 8.12 and, at such time, the Borrower shall be subject to the limitations on Hedging Agreements contemplated by Section 9.18 with respect to such Additional Proved Producing Reserves.

  • Such projections shall, at all times, be equal to the projections set out in the most current Reserve Report then available for the Borrower's and the Restricted Subsidiaries' Oil and Gas Properties which constitute Proved Producing Reserves.

  • Proved Producing Reserves are those reserves which are expected to be recovered from existing completion intervals open at the time of the estimate and producing in existing wells.

  • The Board approved the project to fix the problems using funds to complete that fix based on savings created by a revised HVAC system upgrade for the Clubhouse.

  • For purposes hereof, the term Proved Producing Reserves shall mean the estimated quantities of crude oil, natural gas and natural gas liquids which, based upon engineering and geologic data, are expected to be recovered under existing economic and operating conditions from existing wxxxx in reservoirs (including behind the pipe reservoirs) that have produced at any time during the twelve (12) months before the reporting date.

  • For purposes hereof, the term Proved Producing Reserves shall mean the estimated quantities of crude oil, natural gas and natural gas liquids which, based upon engineering and geologic data, are expected to be recovered under existing economic and operating conditions from existing wells in reservoirs (incxxxxxg behind the pipe reservoirs) that have produced at any time during the twelve (12) months before the reporting date.

  • Such projections shall, at all times, be equal to the projections set out in the most current Reserve Report then available for the Borrower's and the Subsidiaries' Oil and Gas Properties that constitute Proved Producing Reserves.

  • All Proved Producing Reserves relied upon by Borrower in its certification and request shall be supported by a reserve study or studies dated within thirty (30) days of the request date.

  • As used herein, “Speculative Transaction” means a Hedge Agreement which would cause the Borrower and its Restricted Subsidiaries to have in place Hedging Agreements covering at any time more than 100% of the Borrower’s and its Restricted Subsidiaries’ total projected production of oil or more than 100% of the Borrower’s and its Restricted Subsidiaries’ total projected production of natural gas, in each case, from Proved Producing Reserves on an individual commodity basis (and not on an equivalency basis).


More Definitions of Proved Producing Reserves

Proved Producing Reserves. Proved Reserves that are recoverable from existing xxxxx with current operating methods and expenses and are producing.
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Proved Producing Reserves means Proven Reserves which are categorized as both “Proved Reserves” and “Producing” in the Definitions for Oil and Gas Reserves (the “Reserve Definitions”) promulgated by the Society of Petroleum Engineers (or any generally recognized successor) as in effect at the time in question.
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Proved Producing Reserves proved developed producing oil and gas reserves as such term is defined by the SEC in its standards and guidelines.
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Proved Producing Reserves means those oil and gas reserves estimated as ---------------------------- recoverable under current technology and existing economic conditions from that portion of a reservoir which can be reasonably evaluated as economically productive on the basis of analysis of drilling, geological, geophysical and engineering data, including reserves to be obtained by enhanced recovery processes demonstrated to be economic and technically successful in the subject reservoir and which are actually on production.
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Proved Producing Reserves means, as determined by the Lenders in accordance with their usual and customary practices, those oil and gas reserves estimated as recoverable under current technology and existing economic conditions from that portion of a reservoir which can be reasonably evaluated as economically productive on the basis of analysis of drilling, mining, geological, geophysical and engineering data, including reserves to be obtained by enhanced recovery processes demonstrated to be economic and technically successful in the subject reservoir; and which, in any case, are actually on production.
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Related to Proved Producing Reserves

  • Proved Developed Producing Reserves means Proved Reserves which are categorized as both “Developed” and “Producing” in the Definitions, “Proved Developed Nonproducing Reserves” means Proved Reserves which are categorized as both “Developed” and “Nonproducing” in the Definitions, and “Proved Undeveloped Reserves” means Proved Reserves which are categorized as “Undeveloped” in the Definitions.

  • Proved Developed Non-Producing Reserves means oil and gas reserves that, in accordance with Petroleum Industry Standards, are classified as both “Proved Reserves” and “Developed Non-Producing Reserves.”

  • Proved Developed Reserves means oil and gas reserves that, in accordance with Petroleum Industry Standards, are classified as both “Proved Reserves” and one of the following: (a) “Developed Producing Reserves” or (b) “Developed Non-Producing Reserves.”

  • Proved Undeveloped Reserves means Proved Reserves which are categorized as “Undeveloped” in the Definitions.

  • Proved Reserves means oil and gas reserves that, in accordance with Petroleum Industry Standards, are classified as both “Proved Reserves” and one of the following: (a) “Developed Producing Reserves”, (b) “Developed Non-Producing Reserves” or (c) “Undeveloped Reserves”.

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

  • PDP Reserves means Proven Reserves which are categorized as both "Developed" and "Producing" in the definitions promulgated by the Society of Petroleum Evaluation Engineers and the World Petroleum Congress as in effect at the time in question.

  • Ethanol blended gasoline means the same as defined in section 214A.1.

  • Proven Reserves means, at any particular time, the estimated quantities of Hydrocarbons which geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs attributable to Oil and Gas Properties included or to be included in the Borrowing Base under then existing economic and operating conditions (i.e., prices and costs as of the date the estimate is made).

  • Activated reserve components means members of the reserve component of the uniformed services who have received a notice of intent to deploy or mobilize under Title 10 of the United States Code, Title 32 of the United States Code, or state mobilization to active duty.

  • Approved Project means the Scheme application of the Applicant approved by the CIC.

  • Proven Mineral Reserve means that economically mineable part of a measured mineral resource demonstrated by at least a preliminary feasibility study. This study must include adequate information on mining, processing, metallurgical, economic and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified;

  • Crude Oil means any liquid hydrocarbon mixture occurring naturally in the earth whether or not treated to render it suitable for transportation and includes:

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

  • Injection well means a well into which fluids are injected. (See also “underground injection”.)

  • Operating Reserve means generation capacity or load reduction capacity which can be called upon on short notice by either Party to replace scheduled energy supply which is unavailable as a result of an unexpected outage or to augment scheduled energy as a result of unexpected demand or other contingencies.

  • Probable Mineral Reserve means the economically mineable part of an indicated and, in some circumstances, a measured mineral resource demonstrated by at least a preliminary feasibility study. This study must include adequate information on mining, processing, metallurgical, economic and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified;

  • Borrowing Base Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

  • Condensate means hydrocarbon liquid separated from natural gas which condenses due to changes in the temperature or pressure and remains liquid at standard conditions.

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

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

  • Required Reserves at any time means the product of (x) the Net Pool Balance and (y) the greater of (I) 13.00% and (II) the sum of (a) the Yield Reserve Ratio, plus (b) the Servicing Fee Reserve Ratio, plus (c) the greater of (i) the sum of the Loss Reserve Ratio and the Dilution Reserve Ratio and (ii) the Minimum Reserve Ratio, each as in effect at such time.

  • Bulk gasoline plant means a gasoline storage and distribution facility with an average daily throughput of 20,000 gallons (76,000 liters) of gasoline or less on a 30-day rolling average.

  • Reserve Report means a report, in form and substance reasonably satisfactory to the Administrative Agent, setting forth, on the dates required in Section 8.12 (or such other date in the event of an Interim Redetermination) the oil and gas reserves attributable to the Oil and Gas Properties of the Credit Parties, together with a projection of the rate of production and future net income, taxes, operating expenses and capital expenditures with respect thereto as of such date, based upon the pricing assumptions consistent with the Administrative Agent’s lending requirements at the time.

  • Loan Loss Reserves means funds held by the Seller to cover potential losses in connection with the mortgage loans owned in the Seller’s portfolio, including without limitation any amounts required to be maintained and held as a loan loss reserve in accordance with GAAP and any other regulatory requirement applicable to the Seller.

  • Operating Revenues means, for any, period, the gross revenues arising from the ownership and operation of the Properties during such period, including proceeds of any business interruption or rental loss insurance and amounts released from reserves, but specifically excluding Capital Proceeds, Capital Contributions and proceeds of Indebtedness.

Most Referenced Clauses

Most Referenced Definitions