Examples of Royalty Oil in a sentence
The purchase and sale of Royalty Oil under this Agreement are subject only to the warranties the State has expressly set forth in this Agreement.
Buyer and Guarantor acknowledge that the State may be required to provide six Months’ notice to the Lessees before the State may decrease its in-kind nomination of Royalty Oil in any Month.
Such notice shall indicate the estimated quantities of Royalty Oil, Cost Oil and Profit Oil, each Party's estimated Lifting Allocation and the estimated Realizable Price used to prepare such estimated Lifting Allocations.
The Preliminary Finding and Determination and copies of the proposed contracts were submitted to the Alaska Royalty Oil and Gas Development Board in compliance with AS 38.05.183(c), 11 AAC 03.024, and 11 AAC 03.040, which require the commissioner to give written notice to the board of intent to waive competitive bidding in an RIK sale.
Following the issuance of the Preliminary Best Interest Finding and Determination, public comment period, and public hearing, review and recommendation of the proposed RIK Oil sale by the Alaska Royalty Oil and Gas Development Advisory Board, the Commissioner has determined that it is in the best interest of the State to take its royalty oil as RIK in order to supply the Petro Star refineries at Valdez and North Pole with feedstock.