Development Drilling definition
Examples of Development Drilling in a sentence
Except as otherwise provided in this Article Five, Operating Costs, costs and expenses of Development Drilling, General and Administrative Costs, Direct Administrative Costs and all other Partnership costs and expenses will be charged to the accounts of the General Partner and the Unit Holders in the same proportions that Revenues are being allocated to them at the time such costs and expenses are incurred.
All fees and payments to the General Partner required by Section 4.12B, Commissions and costs incurred in connection with Identified Development Drilling (including any interest, commitment fees and other finance charges with respect to borrowing incurred in connection therewith) and Property Acquisition Costs will be charged 99% to the Unit Holders and 1% to the General Partner.
The Partnership shall not conduct any drilling of ▇▇▇▇▇ other than Development Drilling and Identified Development Drilling; provided, however, that the drilling of ▇▇▇▇▇ other than Development Drilling and Identified Development Drilling may be performed on behalf of the Partnership pursuant to Farmouts or when such drilling may be deemed necessary or appropriate to preserve or protect the Partnership's interest in or the production from a Producing Property.
A Registration Statement, as amended, filed pursuant to the Securities Act of 1933, registering limited partnership interests aggregating $50,000,000 in a series of Texas limited partnerships formed under the Parker & Parsley 86 Development Drilling Program, was declared effective by the Securities and Exchange Commission on April 7, 1986.
A Registration Statement, as amended, filed pursuant to the Securities Act of 1933, registering limited partnership interests aggregating $70,000,000 in a series of Delaware limited partnerships formed under the Parker & Parsley 89-90 Development Drilling Program, was declared effective by the Securities and Exchange Commission on August 1, 1989.
The Managing Partners may not expend any amount of Production Partnership funds over the term of the Production Partnership for the payment of Production Partnership costs (other than recompletion costs) incurred in connection with Development Drilling and Identified Development Drilling in excess of 10% of the amount of the Limited Partners' capital contributions to the Limited Partnership and the Production Partnership borrowings.
The Production Partnership shall not conduct any drilling of wells other than Development Drilli▇▇ ▇▇d Identified Development Drilling; provided, however, that the drilling of wells other than Development Dri▇▇▇▇▇ and Identified Development Drilling may be performed on behalf of the Production Partnership pursuant to Farmouts.
A Registration Statement, as amended, filed pursuant to the Securities Act of 1933, registering limited partnership interests aggregating $40,000,000 in a series of Texas limited partnerships formed under the Parker & Parsley 87 Development Drilling Program, was declared effective by the Securities and Exchange Commission on April 28, 1987.
A Registration Statement, as amended, filed pursuant to the Securities Act of 1933, registering general partnership interests aggregating $30,000,000 in a series of Texas general partnerships formed under the Parker & Parsley 89-90 Development Drilling Program, was declared effective by the Securities and Exchange Commission on August 1, 1989.
A Registration Statement, as amended, filed pursuant to the Securities Act of 1933, registering limited partnership interests aggregating $40,000,000 in a series of Texas limited partnerships formed under the Parker & Parsley 85 Development Drilling Program, was declared effective by the Securities and Exchange Commission on August 28, 1985.