Exploratory Well definition

Exploratory Well means a well that is not a development well, a service well or a stratigraphic test well.

Exploratory Well means a well drilled to find and produce oil or natural gas reserves not classified as proved, to find a new productive reservoir in a field previously found to be productive of oil or natural gas in another reservoir or to extend a known reservoir.

Exploratory Well means a well drilled either in search of a new, as-yet undiscovered oil or natural gas reservoir or to greatly extend the known limits of a previously discovered reservoir;

Examples of Exploratory Well in a sentence

• Within _________ (__) days of the selection of the substitute Operator, the substitute Operator shall propose the drilling of an identical Exploratory 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on the Exploratory Well within that __________ (___) day period, the approved Exploratory Well proposal shall be deemed withdrawn, with the effect as if the Exploratory Well had never been proposed and approved.

• If any Participating Party fails to respond within the applicable response period for a proposal to plug and abandon an Exploratory Well, that Participating Party shall be deemed to have approved the plugging and abandonment of that Exploratory Well.

• The Well Plan for the substitute Exploratory Well shall be substantially the same as the Well Plan for the abandoned Exploratory Well and shall also take into account the conditions that rendered further drilling of the abandoned Exploratory Well impractical.

• If an approved original or identical Exploratory Well proposal is deemed withdrawn due to a failure to timely commence drilling operations on that well, all Costs incurred, which are attributable to the preparation for, or in furtherance of,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

More Definitions of Exploratory Well

Exploratory Well means a well drilled to find commercially productive hydrocarbons in an unproved area, to find a new commercially productive horizon in a field previously found to be productive of hydrocarbons at another horizon, or to significantly extend a known prospect.

Exploratory Well means a well drilled or to be drilled (as the case may be) in search of Petroleum to test a geological feature, which has not been determined to contain producible Petroleum sufficient for Commercial Production;

Exploratory Well means a well drilled to:

Exploratory Well means a well drilled in search of petroleum to test a geological feature which has not been determined to contain petroleum in commercial quantities;

Exploratory Well means a well which is drilled to investigate whether hydrocarbons are present in a formation or other unit within a geological structural or stratigraphic trap in which the presence of hydrocarbons has not previously been demonstrated. The reopening and redrilling of a well shall not be considered a new Exploratory Well unless this is approved by the HA.

Exploratory Well means a well drilled on a geological feature on which a significant discovery has not been made;

Exploratory Well means any well drilled (i) to find and produce gas or oil in an unproven area, (ii)