Development Well definition

Development Well means a well drilled inside the established limits of an oil or gas reservoir, or in close proximity to the edge of the reservoir, to the depth of a stratigraphic horizon known to be productive.

Development Well means a Well drilled, deepened or completed after the date of approval of the Development Plan pursuant to Development Operations or Production Operations for the purposes of producing Petroleum, increasing production, sustaining production or accelerating extraction of Petroleum including production Xxxxx, injection Xxxxx and dry Xxxxx.

Development Well means a well drilled within the proved area of an oil or gas reservoir to the depth of a stratigraphic horizon known to be productive.

Examples of Development Well in a sentence

• Within _________ (__) days of the selection of the substitute Operator, the substitute Operator shall propose the drilling of an identical Development Well (except for any necessary modifications resulting from a change in the drilling rig to be utilized by the substitute Operator), and it shall commence drilling operations on that well within _________ (___) days after the end of the period for the approval of that Well.

• If the Operator, except for an occurrence of Force Majeure, does not commence drilling operations on the Development Well within that __________ (___) day period, the approved Development Well proposal shall be deemed withdrawn, with the effect as if the Development Well had never been proposed and approved.

• Contract Area) was not applicable to the drilling of that Development Well.

• Once a Development Well has been completed and placed on production, the Participating Parties in that well must unanimously agree to allow any Party to conduct a Non-Consent Operation in that well, unless that well becomes incapable of producing in paying quantities.

• If an approved original or identical Development Well proposal is deemed withdrawn due to a failure to timely commence drilling operations on that well, all Costs incurred, which are attributable to the preparation for, or in furtherance of, that Development Well, will be chargeable to the Participating Parties.

More Definitions of Development Well

Development Well has the meaning given such term in the Development Agreement.

Development Well means a Well which the Licensee uses or intends to use in connection with the getting of Petroleum in the Licensed Area, other than a Well which for the time being he uses or intends to use only for searching for Petroleum.

Development Well means a well drilled within the proved area of a natural gas or oil reservoir to the depth of a stratigraphic Horizon known to be productive.

Development Well means any well drilled for the production of Hydrocarbons pursuant to a Development Plan.

Development Well means any oil and gas producing well other than a wildcat well.

Development Well means a well drilled in accordance with the approved Development Plan for the purpose of producing Petroleum or injecting fluids into the reservoirs.

Development Well means a Well which the Licensee uses or intends to use in connection with the storage of carbon dioxide in the Licensed Area, other than a Well which for the time being he uses or intends to use only for activities pursuant to clause 5(1).