Production Reversion Penalties. Except as to such operations conducted pursuant to Section 12.7 or for the initial EXPLORATORY WELL referred to in Section 10.3, such interest, rights and title shall revert to each NON-PARTICIPATING PARTY when the PARTICIPATING PARTIES have recouped out of the proceeds of production from such NON-CONSENT OPERATIONS an amount equal to the sum of the following:
Appears in 4 contracts
Samples: Joint Operating Agreement (Ridgewood Energy K Fund LLC), Joint Operating Agreement (Ridgewood Enengy K Fund LLC), Agreement (Beta Oil & Gas Inc)
