Development Wells definition
Examples of Development Wells in a sentence
Operator shall plug and abandon all Development Wells that are unsuccessful.
Any proposal by a Party for a Platform and/or Development Facilities shall not provide for excess capacity and/or space which is greater than ten percent (10%) of what is required for such Platform and/or Development Facilities based upon the expected size of the Producible Reservoir(s); the number of existing Producible Wells; the quality of Hydrocarbons to be produced, processed, ▇▇▇ transported; and the number of scheduled Development Wells.
In the event that Seller's Working Interest in any of the Completed Development Wells is subject to Produ▇▇▇▇▇ Burdens in excess of 12.5%, such excess burdens will be the sole responsibility of Seller and paid out of Seller's fifty percent (50%) interest in the Subject Development Lands retained by Seller hereunder.
Clause 604 - Marketing Fee: Alternate A X_ B ___ (if 'B' is selected add specific options for petroleum, NG, NGL & sulphur) Clause 903 - Less than All Parties Participate: Alternate A _ X_ B ___ Clause 1007 - Penalty Where Independent Well Results in Production: 1007 (a) (iv) - Development Wells 300% 1007 (a) (iv) - Exploratory Wells 500% Clause 1010 (a) iv - exception: 180 days Clause 2202 - ▇▇dresses for Notices: Hanna Oil and ▇▇▇ ▇ompany-Canada, Inc.
The Development Agreement will require that Seller drill Completed Development Wells sufficient to achieve ▇▇▇ Total Drilling Commitment on or before the Drilling Obligation Completion Date, in accordance with the terms and conditions set forth in the Development Agreement.
Appraisal Wells or Development Wells), until the total non-consent amount ▇▇ be recouped has been recovered from the Producible Reservoir.
Seller shall have executed and ---------------------------- delivered to Buyer an assignment, in form reasonably satisfactory to Buyer, of a term royalty interest, for a period of twenty (20) years, consistent with the terms and conditions of the Term Royalty Conveyance applicable to the Completed Development Wells with respect to the PK-▇▇▇ ▇ell, API No. 16-159-97116, located in Mar▇▇▇ ▇▇▇▇▇▇, Kentucky.
No Party except an owner of a platform may drill Development Wells or run production from a well (except production resulting from initial well tests) from the platform without the prior written consent of all platform owners.
In the event that Assignor's Working Interest in any of the Completed Development Wells is subject to Production Burd▇▇▇ ▇n excess of 12.5%, such excess burdens will be the sole responsibility of Assignor and paid out of Assignor's fifty percent (50%) interest in the Subject Development Lands retained by Assignor hereunder.
Operator further agrees to use commercially reasonable efforts to drill seventy (70) Completed Development Wells during the first Annual ▇▇▇▇od, sixty (60) Completed Development Wells during the second Annual ▇▇▇▇od, and fifty (50) Completed Development Wells during the third Annual ▇▇▇▇od.