Discovery well definition
Discovery well means the first well capable of producing oil or gas in commercial quantities from a pool.
Discovery well means the first well capable of
Discovery well means an Exploration Well that hits a Discovery.
More Definitions of Discovery well
Discovery well means any well capable of producing oil from a single pool in which a well has not been previously produced in paying quantities after testing, capable of producing.
Discovery well means any well capable of producing gas from a single pool in which a well has not been previously produced in paying quantities after testing.
Discovery well means the first well which finds and recovers to the surface Petroleum from a previously unknown or untested Petroleum Pool or where a sufficient indication is proven to the satisfaction of all Parties that a Petroleum Pool exists, then a well may be declared a Discovery Well notwithstanding that the well did not test to the surface Petroleum;
Discovery well means the first well completed in a common source of supply that is not in communication with any other common source of supply.
Discovery well means a well that discovers a new and previously untapped oil or gas pool. A discovery well may open up a new field or it may locate a previously unknown oil or gas pool in an old field.
Discovery well means a well which establishes production in a new reservoir.
Discovery well means an exploratory well that, in the opinion of the Administrator, has encountered petroleum in quantities of commercial significance;