Volumetric Production Payment definition

Volumetric Production Payment means a production payment that is recorded as a sale in accordance with GAAP, whether or not the sale price must be recorded as deferred revenue, together with all undertakings and obligations in connection therewith.
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Volumetric Production Payment means production payment obligations recorded as deferred revenue in accordance with GAAP, together with all undertakings and obligations in connection therewith.
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Volumetric Production Payment means production payment obligations recorded as deferred revenue in accordance with IFRS, together with all related undertakings and obligations.
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Examples of Volumetric Production Payment in a sentence

  • Both Parties at Closing shall execute a Settlement Statement evidencing any amount actually wire transferred or the Volumetric Production Payment assigned and all adjustments to the consideration taken into account at Closing.

  • At Closing, (i) Optionor shall execute an Assignment and Conveyance, the form of which shall be substantially the same as the form attached hereto as Exhibit “I”, and (ii) depending upon Optionor’s election, Optionee shall either pay the Cash Payment or execute an Assignment of Volumetric Production Payment, the form of which shall be substantially the same as the form attached hereto as Exhibit “J”.

  • The procedure to be applied for scheduling drivers, during the off season, will be as follows: The Company will retain on the active roll, an appropriate number of drivers considered necessary to service operating requirements.

  • Volumetric Production Payment Transaction On August 10, 2020, the Company completed a volumetric production payment transaction and received net proceeds of approximately$215 million (the "VPP").

  • Asset Divestitures UpdateIn 2016, Chesapeake has closed or has under signed sales agreements approximately $1.2 billion in gross proceeds from asset divestitures, or approximately $950 million in net proceeds after certain related repurchases of Volumetric Production Payment (VPP) obligations are met.

  • Announces Closing of a Volumetric Production Payment Transaction (“VPP”) and Monetizing its Entire Natural Gas Hedge Portfolio for a Combined $68 Million in Cash Proceeds Oklahoma City, Oklahoma, Monday, December 12, 2011.

  • Underlying the agreements, the amount of VPP (Volumetric Production Payment) that must be paid in periodic monetary terms will be established, with ranges such as to ensure both the remuneration of the Proposing Group and the profit margin of the user.


More Definitions of Volumetric Production Payment

Volumetric Production Payment means, with respect to any Person, any obligation of such Person to deliver pre-determined volumes of oil or gas out of future production from designated reserves that is without recourse to other assets of such Person.
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Volumetric Production Payment has the meaning specified in Section 2.5.
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Volumetric Production Payment means production payment obligations recorded as deferred revenue in accordance with GAAP, together with all undertakings and obligations in connection
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Volumetric Production Payment means a production payment that is recorded as a sale in accordance with GAAP, whether or n as deferred revenue, together with all undertakings and obligations in connection therewith.
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Related to Volumetric Production Payment

  • Production Payments and Reserve Sales means the grant or transfer by the Company or any of its Restricted Subsidiaries to any Person of a royalty, overriding royalty, net profits interest, Production Payment, partnership or other interest in Oil and Gas Properties, reserves or the right to receive all or a portion of the production or the proceeds from the sale of production attributable to such properties where the holder of such interest has recourse solely to such production or proceeds of production, subject to the obligation of the grantor or transferor to operate and maintain, or cause the subject interests to be operated and maintained, in a reasonably prudent manner or other customary standard or subject to the obligation of the grantor or transferor to indemnify for environmental, title or other matters customary in the Oil and Gas Business, including any such grants or transfers pursuant to incentive compensation programs on terms that are reasonably customary in the Oil and Gas Business for geologists, geophysicists or other providers of technical services to the Company or any of its Restricted Subsidiaries.

  • Capitation Payment means a payment the STATE makes periodically to the MCO for each Enrollee covered under the Contract for the provision of services as defined in Article 6 regardless of whether the Enrollee receives these services during the period covered by the payment.

  • Sales Tax Revenues means taxes collected under the Virginia Retail Sales and Use Tax Act

  • 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.

  • Daily Contract Quantity or “DCQ” means the quantity of Gas as set out in Clause 4.1 herein.

  • State-certified production means a qualified production

  • Ethanol blended gasoline means the same as defined in section 214A.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.

  • Net Revenues means revenues less related expenses, including

  • Aerosol cooking spray means any aerosol product designed either to reduce sticking on cooking and baking surfaces or to be applied on food, or both.

  • CAISO Revenues means the credits, fees, payments, revenues, interest or similar benefits, including imbalance energy payments, that are directly assigned by the CAISO to the CAISO Global Resource ID for the Generating Facility for, or attributable to, Scheduling or deliveries from the Generating Facility under this Agreement.

  • Gross Profit means the sum produced by adding to the “net profit” the amount of the Insured “standing charges”, or if there be no “net profit”, the amount of the Insured “standing charges” less such a proportion of any net trading loss as the amount of the Insured “standing charges” bears to all the “standing charges” of the business.

  • Net Revenue means an entity’s total revenue less its operating expenses, interest paid, depreciation, and taxes. “Net Revenue” is synonymous with “Profit.”