Conduct of Operations. (a) Grantor shall be entitled to use a proportionate share of the Royalty Owner's share of Petroleum Substances as may be reasonably necessary for its drilling and production operations with respect to the Royalty Lands, excluding Petroleum Substances used for tertiary recovery operations. Grantor shall not be liable to Royalty Owner for Petroleum Substances which are unavoidably lost. Petroleum Substances so used or lost shall be excluded when quantifying the Overriding Royalty.
Appears in 5 contracts
Samples: Overriding Royalty Agreement (Park Place Energy Corp.), Overriding Royalty Agreement (Park Place Energy Corp.), Overriding Royalty Agreement (Park Place Energy Corp.)
Conduct of Operations. (a) Grantor shall be entitled to use a proportionate share of the Royalty OwnerGrantee's share of Petroleum Substances as may be reasonably necessary for its drilling and production operations with respect to the Royalty Lands, excluding Petroleum Substances used for tertiary recovery operations. Grantor shall not be liable to Royalty Owner Grantee for Petroleum Substances which are unavoidably lost. Petroleum Substances so used or lost shall be excluded when quantifying the Overriding Royalty.
Appears in 3 contracts
Samples: Overriding Royalty Agreement (Dynamic Oil & Gas Inc), Overriding Royalty Agreement (Dynamic Oil & Gas Inc), Overriding Royalty Agreement (Dynamic Oil & Gas Inc)
