Prudhoe Bay Unit definition

Prudhoe Bay Unit means the oil and gas leases subject to the Prudhoe Bay Unit Agreement on January 1, 2005, or as later expanded or contracted.
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Prudhoe Bay Unit means the oil and gas leases and described land located on the North Slope of Alaska as may exist from time to time from which oil, gas and associated substances are developed and produced under the terms of the Unit Agreement Prudhoe Bay Unit with the State of Alaska, dated April 1, 1977 and the Unit Operating Agreement Prudhoe Bay Unit by and between the Working Interest Owners of the Prudhoe Bay Unit, dated April 1, 1977, each as amended from time to time.
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Prudhoe Bay Unit. Agreement shall mean the agreement dated April 1, 1977, as amended, among the State of Alaska and the Prudhoe Bay Unit Working Interest Owners (as defined in said agreement) establishing the Prudhoe Bay Unit.
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Examples of Prudhoe Bay Unit in a sentence

  • This current estimate of reserves is based upon various assumptions, including a reasonable estimate of the allocation of hydrocarbon liquids between oil and condensate pursuant to the procedures of the Prudhoe Bay Unit Operating Agreement.

  • However, nothing contained in this Section 7.1 shall be deemed to prevent or restrict Grantor from electing not to participate in any operation which is to be conducted under the terms of either the Prudhoe Bay Unit Agreement or the Prudhoe Bay Unit Operating Agreement if such election is made by Grantor in accordance with the Prudent Standard.

  • The Subject Interests have been heretofore unitized for the production of oil and gas in the Prudhoe Bay Unit.

  • 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.

  • Grantor shall not be obligated to continue to produce Oil from the Subject Interests in the Prudhoe Bay Unit or to maintain such production at any particular level so long as Grantor acts in accordance with Prudent Standard.

  • The reference stream Quality Bank value is 1 PBU IPA is the abbreviation for the Prudhoe Bay Unit Initial Participating Areas.

  • The Prudhoe Bay Unit is an oil and gas unit situated on the North Slope of Alaska.

  • He may decide it most appropriate in all the circumstances to issue a caution.

  • The Prudhoe Bay (Permo-Triassic) Reservoir is defined in the Prudhoe Bay Unit Operating Agreement.

  • Under these contracts, the State was obliged to deliver only royalty oil produced from the Prudhoe Bay Unit.


More Definitions of Prudhoe Bay Unit

Prudhoe Bay Unit is the oil and gas unit situated on the North Slope of Alaska in which the Subject Interests have been heretofore unitized for the production of oil and gas.
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Related to Prudhoe Bay Unit

  • FTPS Unit means Units which are purchased through the Fund/SERV(R) trading system or on a manual basis through FTP Services LLC or for which FTP Services LLC is acting as FTPS Unit Servicing Agent.

  • Family Unit means the Employee and his or her Dependents covered under the Plan.

  • sub-unit means, with respect to any currency other than euro, the lowest amount of such currency that is available as legal tender in the country of such currency and, with respect to euro, means one cent.

  • apartment unit means any residential dwelling unit within a building containing three or more dwelling units where access to each residential unit is obtained through a common entrance or entrances from the street level and the residential units are connected by an interior corridor;

  • Management Unit means an area established by the Commission for management purposes.

  • LLC Unit means a common limited liability interest in the Company.

  • Common Unit Economic Balance means (i) the Capital Account balance of the General Partner, plus the amount of the General Partner’s share of any Partner Minimum Gain or Partnership Minimum Gain, in either case to the extent attributable to the General Partner’s ownership of Partnership Common Units and computed on a hypothetical basis after taking into account all allocations through the date on which any allocation is made under Section 6.2.D hereof, divided by (ii) the number of the General Partner’s Partnership Common Units.

  • Settlement Unit means each hour in a day divided into hour-long periods starting at 00:00 on such day.

  • Heat unit means a unit of energy equal to the product of the peak kilovoltage, milliamperes, and seconds, i.e., kVp x mA x second.

  • Partnership Unit Economic Balance means (i) the Capital Account balance of the General Partner plus the amount of the General Partner’s share of any Partner Minimum Gain or Partnership Minimum Gain, in each case to the extent attributable to the General Partner’s Partnership Units divided by (ii) the number of the General Partner’s Partnership Units.

  • OP Unit Economic Balance has the meaning set forth in Section 6.03(c) hereof.

  • Procurement Unit means the unit or department within GRDA that is responsible for administering procurement policies and procedures.

  • GP Unit means a Partnership Unit which is designated as a GP Unit of the Partnership.

  • Unit Share has the meaning ascribed thereto in the first paragraph of this Agreement;

  • Project Management Unit and “PMU” each means the Recipient’s unit responsible for the implementation of its Respective Part of the Project referred to in Section I.A.2 of Schedule 2 to this Agreement.

  • Purchaser Common Stock means the common stock, par value $0.01 per share, of Purchaser.

  • Animal Unit means a unit of measure used to compare differences in the production of animal manure and set forth in Minn. R. 7020.0300, subp. 5.

  • Units means the units of the Company, each comprised of one share of Common Stock and one-half of one Warrant.

  • Cogeneration unit means a unit that has equipment used to produce electric energy and forms of useful thermal energy (such as heat or steam) for industrial, commercial, heating or cooling purposes, through the sequential use of energy.

  • OP Unit means a Partnership Unit which is designated as an OP Unit of the Partnership.

  • Spending unit means the department, bureau, division, office, board, commission,

  • Common Unit means a common unit representing a limited partner interest in the Partnership having the rights set forth in the Partnership Agreement.

  • COP means the conference of the parties to the Convention;

  • Unit and “Quality” means the unit and quantity specified in the schedule.

  • Class A Common Unit means a Common Unit having the rights and obligations specified with respect to Class A Common Units in this Agreement.

  • Time-share unit means a condominium unit in which a time-share estate or a time-share license exists.