Dry Hole Sample Clauses

Dry Hole. Lessor agrees that if Lessee drills a dry hole on the Leased Premises or upon any pooled unit which contains a part of the Leased Premises, then the term of this lease shall be extended or the payment of rentals due hereunder shall be excused for a period of one year from the date drilling ceases on said well, and Lessee shall either commence the drilling of another well before the end of said period or commence paying rentals as provided hereunder.

Dry Hole. In the event Forest attempts a completion in a well drilled hereunder at the Objective Depth or at any other depth and such completion attempt(s) is unsuccessful and the well is plugged and abandoned as a dry hole, the costs incurred in drilling such well shall be included as expenditures for the Drilling Program as established in Section 2.1 above and such well will qualify as a Completed Well provided that such well is drilled to a depth sufficient to penetrate the stratigraphic equivalent of the B▇▇▇▇▇▇ Shale Formation and the well is tested in such formation.

Dry Hole. A development well that (i) upon completion is clearly uneconomical to produce and is plugged and abandoned while the drilling rig is in place, or (ii) is otherwise not determined to be a commercial well under the procedures set forth in Section I-11. If a commercial well is completed in a productive reservoir above the total depth drilled, that portion of the well below the lowest productive reservoir to total well depth will be considered a dry hole. I-11. Commercial Well. A development well that, upon completion, (i) clearly produces sufficient quantities to pay, at market prices for the products, all costs of drilling, development and operation of the well, or (ii) requires further determination for classification as a commercial well or dry hole.

Dry Hole. If Operator does not discover oil and gas in paying quantities at a well site and determines the well to be a "dry hole" or upon cessation of production, Operator will give Owner thirty (30) days written notice of the opportunity to take over any abandoned well and convert the well to a water well. If Owner elects in writing to take over the abandoned well and convert the well to a water well, then the Owner will assume all liability and costs associated with the well thereafter, and both parties shall execute any and all documents necessary to provide that the water in the well shall become the property and responsibility of the Owner. If Owner does not elect to take over the well and convert it to a water well, then Operator shall fill and level the location, re- contour the location, distribute the top soil, make the location ready for reseeding and reseed the area, and plug and abandon the well as required by applicable law and regulations. All cleanup and restoration requirements shall be completed, if weather permits, by Operator within six (6) months after termination of drilling or production activities at the well site.

Dry Hole. If an exploration or development well is determined by Lessee to not be useful for production or development purposes, or upon cessation of production, Lessee shall reclaim, plug and abandon the well as required by applicable law and regulations.

Dry Hole. Lessor agrees that if Lessee drills a dry hole on the leased premises or upon any pooled unit which contains a part of the leased premises, then the term of this lease shall be extended or the payment of rentals due hereunder shall be excused for a period of one (1) year from the date drilling ceases on said well, and Lessee shall either commence the drilling of another well before the end of said period or commence paying rentals as provided hereunder. If a well capable of producing oil or gas is drilled under this provision, Lessee shall be able to continue this lease by making the rental or royalty payments set out hereunder.