Reimbursement Oil definition

Reimbursement Oil or “Reimbursement Gas”: (commonly known in the industry as "cost oil" or “cost gas”) means the portion of the Available Production applied to reimbursement of Petroleum Costs, pursuant to the provisions of Article 13 or Article 22 of this Contract, as applicable.
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Examples of Reimbursement Oil in a sentence

  • Such Non-Sole-Risk Party shall be entitled to recover its Participating Interest share of expenses paid pursuant to Article 11.13 below (but not the amount of any associated In Kind Premium) from Reimbursement Oil.

  • The In Kind Premium shall be the right to own, take in kind and separately dispose of Hydrocarbons produced out of one hundred percent (100%) of the Non-Sole-Risk Party's share of future production (including Reimbursement Oil, Compensation Oil and, where applicable under the Contract, Natural Gas) from the Sole-Risk development resulting from the Discovery in which the Non-Sole-Risk Party desires to reinstate the rights it relinquished pursuant to Article 11.6(a) above.

Related to Reimbursement Oil

  • Reimbursement means that DOH will repay the Contractor for allowable costs incurred under the terms of this contract.

  • Reimbursement Date as defined in Section 2.4(d).

  • Reimbursement Amount As defined in Section 2.04.

  • Reimbursement Obligations means, at any time, the aggregate of all obligations of the Borrower then outstanding under Section 2.18 to reimburse the LC Issuers for amounts paid by the LC Issuers in respect of any one or more drawings under Facility LCs.

  • Reimbursement Obligation the obligation of the Borrower to reimburse the Issuing Lender pursuant to Section 3.5 for amounts drawn under Letters of Credit.

  • Cost Reimbursement means a contract which provides for a fee other than a fee based on a percentage of cost and under which a contractor is reimbursed for costs which are allowable and allocable in accordance with the contract terms.

  • Reimbursement insurance policy means a policy of insurance

  • Reimbursement Agreement as defined in Section 2.8(b).