Drilling Obligations. Except as otherwise permitted hereunder, there are no obligations under any Oil and Gas Property or Contract which require the drilling of additional xxxxx or operations to earn or to continue to hold any of the Oil and Gas Properties covered in the most recently delivered Engineering Report in force and effect, except those under customary continuous operations provisions that may be found in one or more of the oil and gas and/or oil, gas and mineral leases.
Drilling Obligations. Except to the extent of those obligations previously fulfilled by Seller or any of its predecessors, none of the Leases or any Applicable Contract contain express provisions obligating Seller to drill any xxxxx on the Properties (other than provisions requiring optional drilling as a condition of maintaining or earning all or a portion of a presently non-producing Lease).
Drilling Obligations. Except as set forth on Schedule 5.16, such Seller has no unfulfilled drilling obligations affecting the Leases by virtue of a Contract relating to the Assets or the ownership or operation thereof.
Drilling Obligations. Within one-hundred and eighty (180) days from and after the date of the commencement of production of oil or gas in paying quantities in the test well, or at a time mutually agreed between the Silver Star and Xxxxxx, Operator shall commence drilling operations of the next well. Operations for drilling of each successor well thereafter shall commence within three-hundred and sixty-five (365) days from and after the cessation of drilling operations in the preceding well, or at a time mutually agreed between the Operator and Xxxxxx, until the lease land has been fully developed. As used in the paragraph, the term “cessation of drilling operations” shall not include a temporary stoppage of drilling operations in the same well, nor to a stoppage of longer duration for such purposes where such stoppage is approved in writing by Xxxxxx. In the event of a disagreement, Xxxxxx shall not unreasonable withhold its consent in these matters.
Drilling Obligations. The Purchasers do not have any material drilling obligations or other development commitments that are not terminable at will by the Purchaser party thereto without penalty, other than commitments and obligations that arose in the Ordinary Course of Business where the sole consequence to the Purchaser party thereto for a failure to participate is to suffer a "non-consent" penalty or forfeit an interest in the undeveloped lands subject to the commitment or obligation.
Drilling Obligations. Except as set forth on Schedule 6.01(t), there are no unfulfilled drilling obligations affecting the Assets, other than provisions requiring optional drilling as a condition of maintaining or earning all or a portion of a Lease.
Drilling Obligations. Except to the extent of those obligations previously fulfilled by Seller or any of its predecessors, none of the Leases or any Related Contracts that are included in the Property contain express provisions, enforceable by specific performance, obligating Seller to drill any xxxxx on the Property (in no way including provisions requiring optional drilling or any conditional drilling to maintain or earn all or a portion of a Lease).
Drilling Obligations. The Sellers and their respective Subsidiaries do not have any material drilling obligations or other development commitments that are not terminable at will by the Seller or the Subsidiary party thereto without penalty, other than commitments and obligations that arose in the Ordinary Course of Business where the sole consequence to the Seller or the Subsidiary party thereto for a failure to participate is to suffer a "non-consent" penalty or forfeit an interest in the undeveloped lands subject to the commitment or obligation.
Drilling Obligations. Except to the extent of those obligations previously fulfilled by an EXCO Sub or its predecessors, none of the Leases or any Applicable Contract contain express provisions obligating any EXCO Sub to drill any xxxxx on the Properties (other than provisions requiring optional drilling as a condition of maintaining or earning all or a portion of a presently non-producing Lease). As of the Execution Date, the EXCO Subs are and have been in compliance with all continuous drilling obligations provided for in the Leases.
Drilling Obligations. Except as set forth in Schedule “3.16”, such Seller is not subject to any express obligation under the terms of any Contract (excluding oil, gas and mineral leases) to drill additional Hydrocarbon xxxxx or engage in other operations on the Real Property Interests in order to earn interests in or to maintain any Real Property Interest, or to comply with the terms of any such Contract, except for obligations arising under the Contracts that allow the parties thereto to elect whether to participate.
