Required Drilling Clause Samples
The Required Drilling clause obligates a party, typically an operator or lessee, to drill a specified number of wells or conduct certain drilling operations within a defined timeframe. This clause often outlines the minimum drilling commitments, deadlines, and potential consequences for failing to meet these obligations, such as forfeiture of rights or penalties. Its core function is to ensure timely development of the leased property, preventing parties from holding acreage without actively pursuing resource extraction.
Required Drilling. If none of the foregoing alternatives is available, Unit Operator shall Drill the Required Well under whichever of the following provisions is applicable:
Required Drilling. If none of the foregoing alternatives is available, the required well shall be drilled under whichever of the following provisions is applicable:
Required Drilling. If none of the foregoing alternatives is available, Unit Operator shall drill the required well for the account of the Party or Parties who would be obligated to bear the Unit Expenditures thereof is accordance with Article V.