Exploratory Drilling. Any drilling after July 31, 1981, for the purpose of locating or producing hydrocarbons that is not development oil or gas drilling. Formations underlying Account 101/105 leaseholds or transferred leaseholds into which exploratory drilling is conducted will be referred to as "exploratory properties."
Appears in 3 contracts
Sources: Settlement Agreement, Stipulation and Agreement (Questar Pipeline Co), Settlement Agreement