Examples of Prudhoe Bay Unit in a sentence
The Parties agree that any gas produced from a reservoir within the Point Thomson Unit and injected into a reservoir within the Prudhoe Bay Unit pursuant to a Point Thomson Gas Development / Prudhoe Bay Enhanced Recovery Project is only subject to tax and royalty one time.
See Appendix 1 for an illustration of the State’s nomination procedure for Sale Oil nominated from the Prudhoe Bay Unit for July 2004.
Gas Cap Area Participation shall have the meaning stated in the Prudhoe Bay Unit Operating Agreement.
However, as more fully set forth in Section 7.2, Grantor has agreed to pay timely all costs and expenses chargeable to it pursuant to the Prudhoe Bay Unit Operating Agreement and to insure that no such costs and expenses will be chargeable against the Royalty Interest.
The proposed Sakonowyak River Unit is located on the North Slope approximately three miles north of the Prudhoe Bay Unit boundary and bounds the western border of the Northstar Unit.
Grantor and Grantee acknowledge that, pursuant to the terms of the Prudhoe Bay Unit Operating Agreement, if Grantor fails to pay any costs or expenses chargeable to Grantor under the Prudhoe Bay Unit Operating Agreement and the production of Oil is insufficient to pay such costs and expenses, then the Royalty Interest is chargeable with a pro rata portion of such cost and expenses and is subject to the enforcement against it of liens granted to the unit operators of the Prudhoe Bay Unit.
Also, if any other or additional instruments are required in connection with the transfer of interests in the Leases to comply with applicable law, regulations, the Prudhoe Bay Unit Agreement, the Prudhoe Bay Unit Operating Agreement or any other applicable agreements, Grantor will execute and deliver the same.
Oil Rim Participating Area shall have the meaning stated in the Prudhoe Bay Unit Agreement.
Oil Rim Area Participation shall have the meaning stated in the Prudhoe Bay Unit Operating Agreement.
The Subject Interests have been heretofore unitized for the production of oil and gas in the Prudhoe Bay Unit.