PUD Reserves definition

PUD Reserves means Proved Reserves which are categorized as “Undeveloped” in the SPE/WPC Definitions.

PUD Reserves means Proven Reserves which are categorized as “Undeveloped” in the definitions promulgated by the Society of Petroleum Evaluation Engineers and the World Petroleum Congress as in effect at the time in question.

PUD Reserves means proved, undeveloped Hydrocarbon reserves, as determined in conformity with the guidelines in effect from time to time as promulgated by the Society of Petroleum Engineers or its successor association.

Examples of PUD Reserves in a sentence

• The Reserve Report as of December 31 of each year shall be prepared (i) with respect to PDP Reserves, by one or more Approved Petroleum Engineers and (ii) with respect to PDNP Reserves and PUD Reserves, either by Approved Petroleum Engineers or by the Borrower’s internal reserve engineering staff in accordance with the procedures used in the immediately preceding December 31 Reserve Report.

• Borrower may exclude any Oil and Gas Properties subject to the BTA Development Agreement that are PUD Reserves and have not yet been earned pursuant to the terms of the BTA Development Agreement so long as BO has granted a perfected first priority Lien (subject only to Excepted Liens) in the BTA Development Agreement to Agent for the benefit of the Beneficiaries)), subject in each case to proper recording thereof.

• As of any date of determination, an amount equal to the sum of (i) sixty percent (60%) of the PDP Reserves Value, plus (ii) twenty-five percent (25%) of the PDNP Reserves Value, plus (iii) ten percent (10%) of the PUD Reserves Value; provided, however, that the portion of the Advance Rate Reserves Value accounted for under clauses (ii) and (iii) combined may not exceed twenty-five percent (25%) of the Advance Rate Reserves Value.

• As of the date of determination, the sum of (i) PDP Reserves Value, plus (ii) PDNP Reserves Value, and plus (iii) PUD Reserves Value.

• The Reserve Report will separately report on PDP Reserves, PDNP Reserves and PUD Reserves in accordance with the requirements of Rule 4-10 of Regulation S-X of the Securities and Exchange Commission.

More Definitions of PUD Reserves

PUD Reserves means proved, undeveloped reserves as shown on the Reserve Report.

PUD Reserves means “proved undeveloped oil and gas reserves” as such term is defined by the SPE in its standards and guidelines.

PUD Reserves means the Hydrocarbon Interests designated as “proved undeveloped” (in accordance with the Definitions for Oil and Gas Reserves approved by the Board of Directors of the Society of Petroleum Engineers, Inc. from time to time) in the most recently delivered Reserve Report.

PUD Reserves means Proved Reserves which are categorized as "Undeveloped reserves" in the COGEH Definitions.

PUD Reserves means Proved Reserves which are categorized as "Undeveloped" in such definitions; provided, however, that all such terms shall be applied in a manner that is consistent with all SEC rules and regulations governing the use of such terms.

PUD Reserves and "SEC 10 Present Value" are hereby added to Section 1.1 of the Original Agreement, to read as follows:

PUD Reserves means Proved Reserves which are categorized as "Undeveloped" in the definitions promulgated by the Society of Petroleum Evaluation Engineers and the World Petroleum Congress as in effect at the time in question. "Reference Rate" means a fluctuating interest rate per annum as shall be in effect from time to time equal to the rate of interest publicly announced by Union Bank of California, N.A., as its reference rate, whether or not the Borrower has notice thereof. "Reference Rate Advance" means an Advance which bears interest as provided in Section 2.09(a)(i). "Refinancing" shall mean the repayment in full of, and the termination of any commitment to make extensions of credit under, all of the outstanding indebtedness of the Borrower or any Subsidiary thereof and listed on Schedule 1.01(a). "Register" has the meaning set forth in paragraph (c) of Section 9.06. "Regulations D, T, U, and X" mean Regulations D, T, U, and X of the Federal Reserve Board, as the same is from time to time in effect, and all official rulings and interpretations thereunder or thereof. "Reimbursement Obligations" means all of the obligations of the Borrower to reimburse the Issuing Lender for amounts paid by the Issuing Lender under Letters of Credit as established by the Letter of Credit Applications and Section 2.07(d). "Release" has the meaning set forth in CERCLA or under any other Environmental Law.