Tract Participation definition

Tract Participation means the percentage shown

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Tract Participation means the percentage of Unitized Substances and costs allocated to a Unit Tract in a Participating Area.

Tract Participation means the participation percentage assigned to a Tract pursuant to Article VI;

Examples of Tract Participation in a sentence

• On and after the Effective Date of this Agreement, the Production Allocation Substances when produced from the Well shall be allocated among the Tracts in accordance with their respective Tract Participation Factors.

• All Unit Substances that are produced and saved from and after the Effective Date, excluding, for the avoidance of doubt, any substances re-injected into the Unit Interval as part of Unit Operations, shall be allocated to each Tract in proportion to its Tract Participation.

• If the defaulting Party has Licence Interests in two or more of the Groups and the default cannot be allocated to a specific Production Licence, the defaulted sum shall initially be split between such Groups in accordance with the Tract Participation of each such Group.

• Exhibit A The Exhibit A template was modified to add a new column, “Share of Royalty Interest Owner (%).” Each freehold royalty interest owner can indicate its ownership % in respect of the overall Tract Participation determined for freehold.

• If any such Tract cannot be so re-qualified, Unit Operator shall recompute the Tract Participation of each Tract of Unitized Land remaining subject to this agreement so that such Tract Participation shall remain in the same ratio one to another.

More Definitions of Tract Participation

Tract Participation means each Group’s share of Petroleum in the Unit Reservoir as set out in Appendix A.

Tract Participation means the share of production from a unitized zone that is allocated to a unit tract under a unit agreement or unitization order or the share of production from a pooled spacing unit that is allocated to a pooled tract under a pooling agreement or pooling order;

Tract Participation means the percentage shown in the plan of unitization participation formula for allocating unit production to a tract, which is measured by the value calculated for each tract for oil, gas, or oil and gas purposes based on its contributing value to the unit in relation to like values of other tracts in the unit, the sum of which is 100 percent.

Tract Participation means each Tract’s undivided allocation of Unit Substances under Article 4.2(A) and the undivided share of the rights and obligations of the Parties under this Agreement with respect to the Unit and in the Unit Facilities, Unit Data and other assets held for the Unit Account accruing to the Contract Group associated with that Tract, expressed as a percentage to four (4) decimal places, as initially set out in Exhibit A, but subject to adjustment pursuant to Articles 5.3, 5.4, 13.1(B) and 13.2(A).

Tract Participation is defined as the percentage of participation shown on Exhibit "B" for allocating Unitized Substances to a Tract under this agreement.

Tract Participation means the share of production from a unitized zone that is allocated to a unit tract pursuant to a unit agreement or unitization order or the share of production from a pooled spacing unit that is allocated to a pooled tract pursuant to a pooling agreement or pooling order;

Tract Participation means the percentage shown in the plan of unitization for allocating unit production to a tract.