Royalty Gas definition

Royalty Gas means the Quantity or Volume of Royalty Bearing Gas that the State is required to take in kind as its Fixed Royalty.
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Royalty Gas means the amount of Available Natural Gas which will generate an amount of Proceeds equal to the actual payment of the Royalty in respect of Gas produced within the Contract Area. (kkkk) “Royalty Oil” means the amount of Available Crude Oil which will generate an amount of Proceeds equal to the actual payment of the Royalty in respect of Oil produced within the Contract Area. (llll) “Selected Exploration Prospect” means the Exploration Prospect selected by the Service Provider to test with an Exploration Well to be funded 100% by the Service Provider. (mmmm) “Service Provider” means XXXXX or any Nigerian registered company which XXXXX may nominate to undertake any of the technical services envisaged under this Agreement and their permitted assigns. (nnnn) “Sidetracking” means the directional control and intentional deviation of a well from existing borehole direction so as to change the bottom hole location unless done to straighten the hole or to drill around junk in the hole or to overcome other mechanical difficulties. Sidetrack and other derivatives shall be construed accordingly. (oooo) “Standard Temperature and Pressure” means a temperature of sixty degrees Fahrenheit (60F) and at a pressure of fourteen decimal six nine six pounds per square inch absolute (14.696 psia). (pppp) “Tax Gas” means the amount of Available Natural Gas which will generate an amount of Proceeds equal to the actual payment of Gas CITA. (qqqq) “Tax Oil” means the amount of Available Crude Oil which will generate an amount of Proceeds equal to the actual payment of PPT. (rrrr) “Testing” means an operation intended to evaluate the capacity of a Zone to produce Hydrocarbons. Test and other derivatives shall be construed accordingly. (ssss) “Voting Interest” means the undivided voting percentage interest of a party held from time to time as more particularly set out in Article 6.3(b) hereof. (tttt) “Work Program and Budget” means a work program for Joint Operations and budget therefore as described and approved in accordance with Article 7. (uuuu) “Zone” means a geological stratum containing, or thought to contain, an accumulation of Hydrocarbons separately producible from any other accumulation of Hydrocarbons. Unless otherwise expressly stated, all references to Articles are to Articles in this Agreement (but not Exhibit A) and all references to Clauses and Sections are to Clauses and Sections in the Accounting Procedure. ARTICLE 2
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Royalty Gas means that portion of Federal lease or agreement production equal to the lease royalty rate.
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Examples of Royalty Gas in a sentence

  • The report covers Royalty (Oil), Royalty (Gas), Gas Flaring Penalties, Concession Rentals Signature Bonus, Value Added Tax, Withholding Taxes, PAYE taxes and payments by oil producing entities to the NDDC and NCDMB etc.

  • The pilot project will be in place from October 1, 2009 to March 31, 2011, if not extended beyond this initial term or terminated earlier.Under the RIK Pilot Project agreement, Exhibit C, Atlas will produce and process the Royalty Gas for sale under the terms of the lease.

  • The Royalty Gas is delivered to DTE Energy and then allocated by the Energy Cooperative to participating members.

  • The sale price, or value of the Royalty Gas, will be based upon Atlas’ average spot market price quoted for the remaining non-State interests in the UA.

  • Therefore, the State has elected to participate in a RIK Pilot Project involving natural gas (Royalty Gas).

  • Balancing Account: Perform monthly reconciliation of the Balancing Account including reconciliation of the Royalty Gas nominated, delivered, and the associated dollars.Copies of all relevant documents such as DTMB’s natural gas purchase contract(s) with Constellation NewEnergy Gas Division (Constellation) will be provided upon award of the Contract.

  • Furthermore, in Nigeria, the royalty payments in PSCs can be made in kind, i.e. in the form of Royalty Oil or Royalty Gas.

  • Analysis The Bryan deed reserved “an undivided one-half (1/2) interest in and to the Oil Royalty, Gas Royalty and Royalty in other Minerals in and under or that may be produced or mined from the above described premises, the same being equal to one-sixteenth (1/16) of the production.” Read independently, the sentence’s first clause reserves a floating royalty interest equal to one- half of the royalty contained in the oil and gas lease in effect.

  • However; instead of Atlas selling the gas to a marketing firm or utility company, DTMB will take possession of the Royalty Gas at the entry point to the MichCon (DTE Energy) Distribution System (System) as defined in the agreement.

  • OBJECTIVE AND SCOPE The objective of our review was to evaluate the Semite’s administration of the Royalty Gas Marketing Pilot and present information that the Service may use to establish a permanent gas royalty-in-kind program.


More Definitions of Royalty Gas

Royalty Gas means the amount of Available Natural Gas which will generate an amount of Proceeds equal to the actual payment of the Royalty in respect of Gas produced within the Contract Area.
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Related to Royalty Gas

  • Royalty Payments has the meaning set forth in Section 7.3.1.

  • Royalty Year means, (i) for the year in which the First Commercial Sale occurs (the “First Royalty Year”), the period commencing with the first day of the Calendar Quarter in which the First Commercial Sale occurs and expiring on the last day of the Calendar Year in which the First Commercial Sale occurs and (ii) for each subsequent year, each successive Calendar Year.

  • Royalty Payment has the meaning set forth in Section 6.1.

  • Royalty means an interest in an oil and gas lease that gives the owner of the interest the right to receive a portion of the production from the leased acreage (or of the proceeds of the sale thereof), but generally does not require the owner to pay any portion of the costs of drilling or operating the wells on the leased acreage.

  • Refined Products means gasoline, diesel fuel, jet fuel, asphalt and asphalt products, and other refined products of crude oil.

  • plant products means products of plant origin, unprocessed or having undergone simple preparation in so far as these are not plants, set out in Annex IV-A, Part 3 to this Agreement;

  • Volumetric Production Payments means production payment obligations recorded as deferred revenue in accordance with GAAP, together with all undertakings and obligations in connection therewith.

  • Licensed producer means a person or entity licensed to produce medical cannabis.

  • Royalties means all royalties, fees, expense reimbursement and other amounts payable by a Loan Party under a License.

  • Net Sales means [***].

  • Supply Point means the point of connection between the licensed network and your apparatus or equipment.

  • Royalty owner means any owner of oil and gas in place, or oil and gas rights, to the extent that the owner is not an operator as defined in subsection (17) of this section;

  • Feedstock Gas means natural gas used as a raw material for its chemical properties in creating an end product.

  • Royalty-Bearing Product means (a) any Product that is not a Co-Developed Product and (b) any Co-Developed Product to the extent sold outside of the Co-Development Territory.

  • Carbon dioxide or “CO2” means the most common of the six primary greenhouse gases, consisting on a molecular level of a single carbon atom and two oxygen atoms.

  • Hemp products means all products made from industrial hemp,

  • Royalty Period means the partial calendar quarter commencing on the date on which the first Licensed Product is sold or used and every complete or partial calendar quarter thereafter during which either (a) this Agreement remains in effect or (b) Company has the right to complete and sell work-in-progress and inventory of Licensed Products pursuant to Section 8.5.

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

  • Net Sales Revenue shall have the meaning as set out in Schedule "A"

  • Mineral Products means the commercial end products derived from operating the Property as a mine:

  • Contract Quantity means the quantity of Gas to be delivered and taken as agreed to by the parties in a transaction.

  • CO2 means carbon dioxide.

  • Gross Profits means the gross profits calculated under section 4;

  • Process Gas means gas used for which altemate fuels, other than another gaseous fuel, are not technically feasible such as in applications requiring precise temperature controls and precise flame characteristics.

  • Contract Quarter means a three-month period that commences on January 1, April 1, July 1, or October 1 and ends on March 31, June 30, September 30, or December 31, respectively.

  • Royalty Fee means a royalty fee in the amount of $0.00 of Actual Production payable by BC Hydro to the Province for each year of the Term in accordance with Article 6 of the Master Agreement.