Unproved Reserves definition
Unproved Reserves means Mineral Interests which do not constitute Proved Mineral Interests.
Unproved Reserves means reserves that are considered less certain to be recovered than proved reserves. Unproved reserves may be further sub- classified to denote progressively increasing uncertainty of recoverability and include probable reserves and possible reserves.
Unproved Reserves means probable reserves and/or possible reserves as defined in Rule 4-10 of Regulation S-X.
Examples of Unproved Reserves in a sentence
Notwithstanding the foregoing, each Bank hereby authorizes Agent to release the Mineral Interests held by Borrower in the ▇▇▇▇▇▇▇ Field from the Liens securing the Obligations solely to the extent of depths below 11,600 feet in connection with the disposition by Borrower of certain Unproved Reserves held by Borrower in such field (each Bank acknowledges that, in addition to such Unproved Reserves, the Mineral Interests released will include certain Proved Mineral Interests).
More Definitions of Unproved Reserves
Unproved Reserves as defined in the Definitions for Oil and Gas Reserves promulgated by the Society of Petroleum Engineers (or any generally recognized successor) as in effect at the time in question.
Unproved Reserves means "Unproved Reserves" as defined in the Definitions for Oil and Gas Reserves promulgated by the Society of Petroleum Engineers (or any generally recognized successor) as in effect at the time in question.
Unproved Reserves means Unproved Reserves which are categorized as “Probable Reserves” and “Possible Reserves” in the SPE/WPC Definitions.
Unproved Reserves means those Oil and Natural Gas Properties estimated based on geologic and/or engineering data similar to that used in estimates of proved reserves; but technical, contractual, economic, or regulatory uncertainties preclude such reserves being classified as proved.
Unproved Reserves provided that, for purposes of this Agreement, the definition of “Probable Undeveloped Reserves” shall only include Oil and Gas Properties of the Borrower and the Guarantors that are (a) operated by either the Borrower or a Guarantor and (b) located in the Haynesville shale or Bossier shale formations in Texas and Louisiana.
Unproved Reserves means all oil and gas interests that do not constitute Proved Reserves.
Unproved Reserves as follows: