Drilling operations definition
Examples of Drilling operations in a sentence
The term “Operations” as used in this Agreement means only (i) the production of oil, gas, or other Hydrocarbons in Paying Quantities, (ii) Drilling Operations and/or (iii) Completion Operations.
Upon Developer’s Commencement of Drilling Operations for any Development Well, Developer shall promptly (but in no event later than thirty (30) days after such Commencement) deliver to University Lands in writing (electronic mail is acceptable) for each such Development Well the following: (i) the spud date; (ii) a preliminary plat (which shall include the API number); (iii) the actual depths within the Subject Lands the Developer plans to perforate and (iv) the expected Completion date.
If Developer desires to drill a Development Well, whether or not classified as an allocation well, across the Subject Lands that traverses other lands, Developer is prohibited from Commencing Drilling Operations for such Development Well until it obtains a Production Sharing Agreement or other written consent executed by University Lands, which may be granted or withheld in its sole and absolute discretion.
At the end of the Development Term or upon termination of this Agreement (if this Agreement is otherwise terminated prior to the end of the Development Term), if Developer is then engaged in Drilling Operations or Completion Operations with respect to a Development Well on the Subject Lands, then the Development Term shall be extended INSOFAR AND ONLY INSOFAR as to such ongoing Drilling Operations and/or Completion Operations with respect to such Development Well (such extension, the “Extended Term”).
Once Developer begins Drilling Operations on a Development Block, Developer shall continuously Drill Development ▇▇▇▇▇ within the Development Block until the density of Development ▇▇▇▇▇ is met.