Well Completion Clause Samples

Well Completion beginning of demobilization of the drilling rig, after Drilling Completion and Well Assessment.

Well Completion the moment when activities directly related to the drilling of a well (including, where applicable, profiling, casing and cementing) have been completed and the final depth has been reached, from which point all Operations refer exclusively to the dismantling, demobilization or movement of the unit. For cases in which the Well Evaluation and/or completion is started up to 60 (sixty) days after the end of the activities directly related to the drilling of the well or its temporary abandonment, the moment in which the dismantling, demobilization or movement of the unit used to carry out the Well Evaluation and/or completion begins will be considered.

Well Completion. Notwithstanding anything contained herein or in any documents executed in connection herewith, it is the intent of Seller and Buyer that within the three year period following the Closing, Buyer shall (a) conduct and pay for all seismic work necessary to evaluate, in Buyer’s absolute discretion, the optimal drilling locations for the development of oil and gas on the C▇▇▇▇▇ Lease and the C▇▇▇ Lease with D▇▇▇▇▇ Seismic, Midland, Texas, or another seismic company mutually agreeable to the Parties; (ii) drill and complete (1) at least four (4) w▇▇▇▇ carried to the pipeline described below and (2) at least four (4) w▇▇▇▇ carried to the casing point (collectively, the “E▇▇▇▇▇▇▇▇▇▇ W▇▇▇▇”) on the portion of the Land subject to the C▇▇▇▇▇ Lease penetrating to the E▇▇▇▇▇▇▇▇▇▇ Group or stratigraphic equivalent to the E▇▇▇▇▇▇▇▇▇▇ interval as defined in the Conoco W▇▇▇▇ ▇▇▇▇▇▇ No. 1 (API#4▇-▇▇▇-▇▇▇▇▇; sec. 10 of the E. JH. H▇▇▇▇▇ Survey, Val Verde County, Texas), the top of the E▇▇▇▇▇▇▇▇▇▇ interval being defined as 14,003 measured depth and the Parties agree that the maximum depth shall be 16,000 feet, and (iii) with respect to the w▇▇▇▇ carried to the pipeline, construct all pipelines and related equipment and facilities necessary to connect such w▇▇▇▇ to the Cross Tex Processing Plant (collectively, the “Required Post-Closing Work”). Buyer shall drill the E▇▇▇▇▇▇▇▇▇▇ W▇▇▇▇ that will be carried to the pipelines before the E▇▇▇▇▇▇▇▇▇▇ W▇▇▇▇ that will be carried to the casing point, and all E▇▇▇▇▇▇▇▇▇▇ W▇▇▇▇ shall be drilled with air and not mud, unless the Parties mutually agree that drilling with mud is not feasible. Buyer further agrees to consult with W▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ to the extent he is agreeable to do so with regard to the location of the E▇▇▇▇▇▇▇▇▇▇ W▇▇▇▇ and all shallower w▇▇▇▇ drilled before the E▇▇▇▇▇▇▇▇▇▇ W▇▇▇▇ are completed. The Parties agree that, while Buyer values M▇. ▇▇▇▇▇▇’ consultation and believes that it will instructive, the Buyer has no obligation to accept his recommendations or advice. The Parties agree to enter into a mutually agreeable Joint Operating Agreement appointing Buyer or its designee as operator (the “Joint Operating Agreement”) with regard to the operation of the Leases. Buyer shall pay 100% of the cost of the Required Post-Closing Work and shall have a 75% Net Revenue Interest in such w▇▇▇▇ which shall be split 87% to Buyer and 13% to Seller. Buyer acknowledges that the initiation and completion of the Post-Closing Work is a mate...

Well Completion. If Solaris, in its sole discretion, determines that any Well is capable of producing oil, gas and/or any other related product in commercial quantities, Solaris agrees to run such production string as Solaris deems as adequate, and attempt to complete each Well. If such completion is successful, Solaris shall equip each Well for production through and including such tanks, separator and other equipment necessary to complete the Well. The Well Completion Date shall be the date of completion of the Well as filed and recorded with the Colorado Oil and Gas Conservation Commission.

Well Completion. To the knowledge of the Vendors, all w▇▇▇▇ located on any lands in which any Purchased Corporation has an interest, or lands with which such lands have been pooled or unitized have been drilled and, as applicable, completed, produced, capped or abandoned in all material respects in accordance with good and prudent oil and gas industry practices in the applicable jurisdictions where such w▇▇▇▇ or lands are located, the Contracts granting the rights therein to any Purchased Corporation and all applicable statutes and regulations. All w▇▇▇▇ located on any lands in which any Purchased Corporation has an interest, or lands with which such lands have been pooled or unitized, that are operated by any Purchased Corporation have been drilled and, as applicable, completed, produced, capped or abandoned in all material respects in accordance with good and prudent oil and gas industry practices in the applicable jurisdictions where such w▇▇▇▇ or lands are located, the Contracts granting the rights therein to any Purchased Corporation and all applicable statutes and regulations.