Gas Overproduction Clause Samples

The Gas Overproduction clause defines the procedures and consequences when a party produces more gas than their allocated share under an agreement. Typically, this clause outlines how excess production is measured, how the overproducing party must compensate others, and may specify financial penalties or adjustments to future production rights. Its core function is to ensure fairness and balance among parties by discouraging unauthorized overproduction and providing a clear mechanism for resolving such imbalances.
Gas Overproduction. In the event Seller is overproduced as to any ▇▇▇▇▇ located on the Lands or if any amounts are due from Seller with respect to any pipeline, transportation or processing imbalances, Buyer acknowledges and agrees that its share of gas from any such overproduced ▇▇▇▇▇ may at some point be curtailed by underproduced working interest owners and it may be required to satisfy, in kind or in value, such third party transporters and processors for such imbalances. Seller shall not be liable to Buyer in the event such curtailment occurs or satisfaction is required.
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Gas Overproduction. In the event Seller is overproduced as to any ▇▇▇▇▇ located on the Lands or if any amounts are due from Seller with respect to any pipeline, transportation or processing imbalances, Buyer acknowledges and agrees that its share of gas from any such overproduced ▇▇▇▇▇ may at some point be curtailed by underproduced working interest owners and it may be required to satisfy, in kind or in value, such third party transporters and processors for such imbalances. Except as provided in Section 3.2(b) and except for the overproduction set forth on Exhibit "H" with respect to PG&E which shall remain an obligation of Seller's (and thus a Retained Obligation), Seller shall not be liable to Buyer in the event such curtailment occurs or satisfaction is required.
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Gas Overproduction. In the event Seller is overproduced as to any well(s) located on the Assets, Buyer acknowledges and agrees that its share of gas from any such overproduced well(s) on the Assets may at some point be curtailed by underproduced working interest owners. Seller shall not be liable to Buyer in the event such curtailment occurs.
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Gas Overproduction. In the event ▇▇▇▇▇▇ is overproduced as to any well(s) appurtenant to the Subject Interests or Pooled Interests, Double Eagle acknowledges and agrees that its share of gas from any such overproduced well(s) included in the Subject Interests or Pooled Interests may at some point be curtailed by underproduced working interest owner(s). The parties agree that ▇▇▇▇▇▇ shall not be liable to Double Eagle in the event such curtailment occurs, there shall be no adjustment to the Purchase Price if ▇▇▇▇▇▇ is overproduced, and Double Eagle shall accept the Subject Interests or Pooled Interests subject to any obligations created by such overproduction.
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Gas Overproduction. In the event Unocal is overproduced as to any ▇▇▇▇▇(s) appurtenant to the SENM Properties, Matador acknowledges and agrees that its share of gas from any such overproduced well(s) may at some point be curtailed by underproduced working interest owner(s) or in the event production should cease prior to achieving volumetric balancing Matador may be subject to cash balancing. The parties to this Agreement agree that Unocal shall not be liable to Matador in the event such curtailment or cash balancing occurs, and Matador shall accept the SENM Properties subject to and assume any obligations created by such overproduction.
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Related to Gas Overproduction

  • Gas Imbalances As of the Closing Date, except as set forth on Schedule 7.24 or on the most recent certificate delivered pursuant to Section 8.07(c), on a net basis there are no gas imbalances, take or pay or other prepayments with respect to any of the Obligors’ Oil and Gas Properties which would require any such Obligors to deliver, in the aggregate, five percent (5%) or more of the monthly production of Hydrocarbons produced from their Oil and Gas Properties at some future time without then or thereafter receiving fall payment therefor.

  • Imbalances The parties hereto recognize that with respect to Section 2.01, on any Day, receipts of gas by Union and deliveries of gas by Union may not always be exactly equal, but each party shall cooperate with the other in order to balance as nearly as possible the quantities transacted on a daily basis, and any imbalances arising shall be allocated to the Facilitating Agreements and shall be subject to the respective terms and charges contained therein, and shall be resolved in a timely manner.

  • Gas If Customer has selected a Gas Fixed Rate, Customer’s Price will be based on the Fixed Rate(s), plus the Administration Charge, set forth in the Application, which includes RITERATE ENERGY’s compressor fuel and transportation charges, administrative and transaction costs and the Gas Balancing Amount and any Regulatory Charges (defined below).

  • Volumes The Authority gives no guarantees of volumes. Any volumes mentioned in this Contract, are indicative only and shall not be binding on the Authority.

  • Contract Quantity The Contract Quantity during each Contract Year is the amount set forth in the applicable Contract Year in Section D of the Cover Sheet (“Delivery Term Contract Quantity Schedule”), which amount is inclusive of outages.