Drilling Party definition

Drilling Party and "Consenting Party" shall mean a party who agrees to join in and pay its share of the cost of any operation conducted under the provisions of this agreement.
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Drilling Party means a party who agrees to join in and pay its share of the cost of any operation conducted under the provisions of this agreement. Unless the context otherwise clearly indicates, words used in the singular include the plural, the plural includes the singular, and the neuter gender includes the masculine and the feminine. ARTICLE II. EXHIBITS The following exhibits, as indicated below and attached hereto, are incorporated to this Agreement and made a part hereof: A. Annex "I", shall include the following information: (1) Identification of lands subject to this agreement, (2) Restrictions, if any, as to depths, formations, or substances, (3) Names and Addresses of parties for notice purposes, and (4) Percentages or fractional interests of parties to this agreement. B. Annex "II", Accounting Procedure. C. Annex "III" shall include Operator's insurance and insurance it requires of its contractors and subcontractors to cover operations on the Contract Area. D. Annex "IV" shall include an addendum to Article VI, paragraph C. If any provision contained in any exhibit or annex is inconsistent with any provision contained in the body of this agreement, the provisions in the exhibit or annex shall prevail. ARTICLE III.
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Drilling Party means Frontier Deepwater Drilling Inc. or R&B Falcon Drilling (International & Deepwater) Inc. or, when used in the plural, both Frontier Deepwater Drilling Inc. and R&B Falcon Drilling (International & Deepwater) Inc.
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Examples of Drilling Party in a sentence

  • Copies of all title opinions shall be furnished to each Drilling Party.

  • In the case of any Plugging Back or Deepening operation, the Drilling Party shall purchase, at salvage value, all casing, tubing and other equipment in the well.

  • If a Party that creates a Subsequently Created Interest becomes a Non-Drilling Party with respect to any operation conducted under this Agreement, then the Drilling Party entitled to receive the share of Production to which the Non-Drilling Party would otherwise be entitled shall receive the same free and clear of any such Subsequently Created Interest.

  • After the assignment, the Drilling Party shall have no further responsibility, liability or interest in the operation of or production from the well or the assigned area surrounding said well and the assigned area shall cease to be operated in accordance with the terms of this agreement.

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  • The operation shall be conducted by Unit Operator for the account of the Participating Party on an Acreage Basis among the Parties constituting the Participating Party, subject, however, to the provisions of Section 11.2 and Section 11.3. If the Participating Party does not proceed with the operation, Unit Operator shall plug and abandon the well for the account of the Drilling Party.

  • At the request of Operator, each Drilling Party shall then assign to such party, without warranty of any kind, as to title, or as to quantity, quality or fitness for use of the equipment and material, all of their interest in the well and its equipment, free of mortgage or lien, together with their interest in the leasehold estate as to the drilling unit of the subject well.

  • Costs incurred by Operator in procuring abstracts, fees paid outside attorneys for title examination (including preliminary, supplemental, shut-in royalty opinions and division order title opinions) and other direct charges as provided in Exhibit B shall be borne by the Drilling Parties in the proportion that the interest of each Drilling Party bears to the total interest of all Drilling Parties as those interests appear in Exhibit A.

  • The terms "Drilling Party" shall mean a party who agrees to join in and pay its share of the cost of any operation conducted under the provisions of this agreement.

  • Such Non-Drilling Party shall be solely responsible for any obligations due under the Subsequently Created Interest and shall hold the Drilling Party harmless with respect thereto.


More Definitions of Drilling Party

Drilling Party and “Participating Party” mean the Party or Parties obligated to bear Costs incurred in the Drilling, Deepening or Plugging Back of a well at the commencement of the operation.
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Drilling Party means a party who agrees to join in and pay its share of the cost of any operation conducted under the provisions of this agreement. Unless the context otherwise clearly indicates, words used in the singular include the plural, the plural includes the singular, and the neuter gender includes the masculine and the feminine.
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Drilling Party and "Non-Drilling Party" shall include "Participating Party" and "Non-Participating Party," respectively.
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Drilling Party means the Party or Parties obligated to bear the Costs of Drilling, Deepening or Plugging Back a well in accordance with this Agreement at the commencement of such operations.
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Related to Drilling Party

  • Billing Party means the Party rendering a bill.

  • Producing Party means the parties to this action and any third-parties producing “Confidential Information” in connection with depositions, document production or otherwise, or the party asserting the confidentiality privilege, as the case may be.

  • Settling Party means any one of, and “Settling Parties” means all of, the parties to the Stipulation, namely Defendants and Plaintiffs (on behalf of themselves and the Settlement Class).

  • Drilling operations means the drilling of an oil and gas well and the production and completion operations ensuing from the drilling which require entry upon the surface estate and which were commenced after June 30, 1979, and oil and gas geophysical and seismograph exploration activities commenced after June 30, 1983.

  • Selling Party has the meaning set forth in the definition of “Net Sales.”

  • Initiating Party means a party who gives notice under section 2 of this Schedule;

  • Performing Party As defined in Section 11.12.

  • Consenting Party means a Party who agrees to participate in and pay its share of the cost of an Exclusive Operation.

  • EPC means engineering, procurement and construction;

  • Drilling unit means the area fixed for the drilling of one well by order or rule of any state or federal body having authority. If a Drilling Unit is not fixed by any such rule or order, a Drilling Unit shall be the drilling unit as established by the pattern of drilling in the Contract Area unless fixed by express agreement of the Drilling Parties.

  • complaining Party means any Party that requests the establishment of an arbitration panel under Article 3.28 (Initiation of Arbitration Procedure);

  • Supplying Party shall have the meaning stated in Section 35.8.2.

  • Managing Party shall have the meaning set forth in Section 7.2(a).

  • Originating Party means the Party, including any entity which provides Classified Information in accordance with the laws and regulations in force in its state;

  • JOA has the meaning given to such term in the Recitals to this Agreement.

  • Contractor/ The Successful Bidder means the person whose Tender has been accepted and awarded letter of Acceptance followed by the Supply Order or Contract by the Purchaser.

  • Deep well means a well located and constructed in such a manner that there is a continuous layer of low permeability soil or rock at least 5 feet thick located at least 25 feet below the normal ground surface and above the aquifer from which water is to be drawn.

  • Assisting Party means a party that provides assistance pursuant to this Agreement during an emergency or disaster.

  • Procuring Entity/Purchaser means a Entity having administrative and financial powers to undertake Procurement of Goods, Works or Services using public funds, as specified in the PCC;

  • Selling Parties shall have the meaning specified in the preamble.

  • BG means Bank Guarantee

  • Drill means a response to a planned, simulated event.

  • Consenting working interest owner means any working interest owner who enters into an agreement with Ascent pertaining to the operation of the Scout W SHC HR Unit.

  • drilling means the act of boring a hole to reach a proposed bottom hole location through which oil or gas may be produced if encountered in paying quantities, and includes redrilling, sidetracking, deepening, or other means necessary to reach the proposed bottom hole location, testing, logging, plugging, and other operations necessary and incidental to the actual boring of the hole;

  • Sellers’ Representative has the meaning set forth in the Preamble.

  • Gatherer As defined in the preamble of this Agreement.