Authority for Expenditure definition

Authority for Expenditure means an expenditure estimate provided by the operator of a drilling project detailing all of the estimated expenses to be incurred in drilling and completing that well.
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Authority for Expenditure means an authority for --- ------------------------- expenditure detailing the estimated costs of a Project or other proposed expenditure.
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Authority for Expenditure. OR "AFE" means a written statement of an operation proposed to be conducted pursuant to this Agreement, which statement shall include:
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Examples of Authority for Expenditure in a sentence

  • The Executive shall provide formal notice via email of his intent to participate in an O&G Venture via responding to the final Authority for Expenditure at least 10 calendar days before the commencement of the drilling effort.

  • Each Test Well shall be drilled to the total depth listed in the Authority for Expenditure (“AFE”) for such Test Well, or a depth sufficient to test the stratigraphic equivalent of the formation listed in AFE for such Test Well, whichever is lesser (“Objective Depth”).

  • An Authority for Expenditure (“AFE”) for the ITW is attached to this Agreement as Exhibit “A-1” (the “Approved AFE”) and by the execution hereof, each of NEWFIELD and RIDGEWOOD agrees to participate in the drilling of the ITW in accordance with the terms hereof.

  • No later than five (5) days prior to the drilling by Operator of a Well in which Non-Operator has elected to participate, Non-Operator shall pay to Operator its Proportionate Share of the Drilling Costs of the Well as estimated in an Authority for Expenditure ("AFE") to be furnished to Non-Operator by Operator along with the written notice to be provided by Operator to Non-Operator pursuant to Section 2.4 hereof.

  • The Authority for Expenditure (“AFE”) to drill the ITW is attached hereto as Exhibit “C”.

  • The term “AFE” shall mean an Authority for Expenditure prepared by a party to this agreement for the purpose of estimating the costs to be incurred in conducting an operation hereunder.

  • The estimated price for each of the ▇▇▇▇▇ shall be set forth in an Authority for Expenditure (“AFE”) which shall be attached to this Agreement as an Exhibit, and shall cover all ordinary costs which may be incurred in drilling and completing each well.

  • Operator shall issue an Authority for Expenditure (“AFE”) thirty (30) days prior to the month in which it intends to conduct a given operation.

  • Subject to permitting and rig availability, Helis, as Operator, shall use commercially reasonable efforts to commence or cause to be commenced by August 31, 2008 the drilling and completion (subject to the casing point election) of a well at a location on the Lease set out on the Operator’s Authority for Expenditure (AFE) attached hereto as Exhibit “C”, the “Initial Test Well”.

  • The estimated price for each of the ▇▇▇▇▇ shall be set forth in an Authority for Expenditure ("AFE") which shall be attached to this Agreement as an Exhibit, and shall cover all ordinary costs which may be incurred in drilling and completing each well for production of natural gas.