Casing Point Clause Samples
Casing Point. That point at which a well drilled hereunder, has reached the proposed objective depth or zone, logged and logs have been distributed to the PARTICIPATING PARTIES and any tests have been made which are necessary to reach the decision whether to run casing.
Casing Point. When such Initial Prospect Well has been drilled to such Authorized Depth, EXXI shall provide each BCP Participant, Centurion and Ellora with:
(a) notification of such fact;
(b) copies of electric logs run through Authorized Depth in such Initial Prospect Well; and
(c) an estimated statement of all costs and expenses theretofore incurred in drilling and testing such Initial Prospect Well prior to the commencement of running of a production string of casing therein, and the Initial Prospect Well will be deemed to have reached casing point (“Casing Point”). It is expressly herein understood and agreed that neither Centurion nor Ellora are required to make any elections as to their after casing point interests until Casing Point is reached in each such Initial Prospect Well.
Casing Point. Casing Point is defined as the point at which (i) the Test Well has been drilled to Contract Depth, (ii) an appropriate suite of logs and other surveys, coring and testing that a reasonable and prudent operator would undertake to determine if an attempt should be made to complete the Test Well, or if the Test Well should be plugged and abandoned, has been completed and the results furnished to the drilling parties, and (iii) the Operator has notified the drilling parties of its recommendation with respect to the running and setting of a production string of casing and completing the well.
Casing Point. That point at which a well drilled hereunder, has reached the proposed objective depth or zone, logged and logs distributed to the PARTICIPATING PARTIES.
Casing Point. Casing Point shall be defined as the point in time when any Exploratory, Development or Substitute Well(s) drilled on the Lease, have been drilled to their objective depth as stated in the applicable AFE (Authority for Expenditure), appropriate tests have been performed and a recommendation is made to (i) set casing and complete the well, (ii) plug and abandon the well or (iii) conduct other operations as provided within the priority of operations outlined within Article 11.4.
Casing Point. For the purposes of this Agreement, “Casing Point” is defined as that point in time when the Initial Test Well or substitute therefore has been drilled to the Objective Depth, all logging and testing contemplated in the AFE has been completed and a recommendation has been made by the Operator for other operations as provided under the JOA, to run production casing or plug and abandon the well.
Casing Point. Casing point shall occur when the Test Well has reached total depth, logged and deemed by Sunset to be a well capable of producing oil, and or gas in commercial quantities. In the event the Test Well is not capable of producing oil and or gas then Delta shall pay its 66.67% pro rata share of 100% of all costs associated with proper abandonment of the Test Well and restoration of any disturbed area or areas.