Contract Acreage definition

Contract Acreage means collectively those aliquots and depths of the Lease(s) and lands described as Available Acreage on Exhibits "A" and "B" attached hereto and made a part hereof plus any acreage that becomes jointly owned pursuant to Section 2.4, LESS AND EXCEPT THE EXCLUDED PROPERTY as defined herein.
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Examples of Contract Acreage in a sentence

  • Subject to the other provisions of this Agreement, the same shall remain in force for the life of the oil and gas leases covering the jointly owned leased premises and any extensions or renewals thereof and new leases covering any part of Contract Acreage within six months of expiration of the lease, whether by production or otherwise.

  • It shall be fully understood that in the event the assigning party encumbers or burdens the Contract Acreage or any portion thereof after earning an interest herein, the assigning party shall hold the non-assigning party free and clear of any and all obligations, liability and/or responsibility for such encumbrance(s) or burden(s).

  • All access to the Contract Acreage and operations conducted in connection with the 3D Survey shall be in accordance with and as prescribed in the Permit, it being the intent that all rights, obligations, liabilities and restrictions contained within the Permit are incorporated herein.

  • Upon receipt by Chevron of the Ridgewood release notification, the rights and options granted Ridgewood under this Agreement as to the released Leases and Contract Acreage shall terminate.

  • On or before October 1, 2013 Operator shall commence the actual drilling of a Test well located on the Contract Acreage ("Initial Test Well").

  • Operator shall not permit any liens to attach to the Contract Acreage.

  • The acquiring Party will consider granting the other Party a license covering that portion of the acquiring Party's proprietary seismic data covering the Contract Acreage upon the other Party's request.

  • For purposes of this Section 3.9 only, Test Well shall mean a well drilled on the Contract Acreage or including portions of the Contract Acreage within the spacing unit for the Test Well.

  • Upon Participant paying its share of the Contract Acreage at Closing, Pioneer shall assign to Participant without warranting title of the lessor under the leases, an assignment of an Eighty-Five Percent (85.0%) working interest and a Sixty-Eight Percent (68.0%) net revenue interest in and to the Contract Acreage.

  • In the event, Participant fails to drill the Initial Test Well on the Contract Acreage sufficient to test base of the ▇▇▇▇▇ Formation on or before November 1, 2010, Participant shall reassign the interest conveyed herein to Participant on Closing under Article I in the Contract Acreage back to Pioneer.

Related to Contract Acreage

  • Acreage means the number of acres of land area of an Assessor's Parcel as shown on an Assessor's Parcel Map, or if the land area is not shown on an Assessor’s Parcel Map, the Board may rely on the land area shown on the applicable final map, parcel map, condominium plan, or other recorded County parcel map.

  • Contract Area means, on the Effective Date, the area described in Appendix-A and delineated on the map attached as Appendix B or any portion of the said area remaining after relinquishment or surrender from time to time pursuant to the terms of this Contract (including any additional area as provided under Article 11.3).

  • Contract Assets has the meaning assigned in Section 2.01 of the Transfer and Sale Agreement.

  • Horizontal well means a well with a horizontal displacement of the well bore drilled at

  • Project Land means any parcel or parcels of land on which the project is developed and constructed by a promoter;