Sidetracking. Any party having the right to participate in a proposed Sidetracking operation that does not own an interest in the affected wellbore at the time of the notice shall, upon electing to participate, tender to the wellbore owners its proportionate share (equal to its interest in the Sidetracking operation) of the value of that portion of the existing wellbore to be utilized as follows:
Appears in 13 contracts
Samples: Operating Agreement (Vanguard Natural Resources, LLC), Operating Agreement (EV Energy Partners, LP), Farmout Agreement (PetroSouth Energy Corp.)
Sidetracking. Any party Party having the right to participate in a proposed Sidetracking operation that does not own an interest in the affected wellbore at the time of the notice shall, upon on electing to participate, tender to the wellbore owners its proportionate share (equal to its interest in the Sidetracking operation) of the value of that portion of the existing wellbore to be utilized as follows:
Appears in 4 contracts
Samples: Operating Agreement (American Liberty Petroleum Corp.), Operating Agreement (American Liberty Petroleum Corp.), Operating Agreement (New Source Energy Corp)
Sidetracking. Any party having the right to participate in a proposed Sidetracking operation that does not own an interest in the affected wellbore at the time of the notice shall, upon on electing to participate, tender to the wellbore owners its proportionate share (equal to its interest in the Sidetracking operation) of the value of that portion of the existing wellbore to be utilized as follows:
Appears in 2 contracts
Samples: Golden Lane Participation Agreement (New Source Energy Corp), Golden Lane Participation Agreement (New Source Energy Partners L.P.)
