Earning Well definition

Earning Well means the Test Well and the Option Well(s), as the case may be;
Earning Well means a well drilled, completed or abandoned pursuant to Clauses 12(b) or 13(b) as the context requires and where such well is drilled pursuant to a Farmin Agreement or and Additional Farmin Agreement and where such well earns from a third party an interest in Petroleum and Natural Gas Rights;
Earning Well means the new well designated and described in, and to be drilled under, the Farmout Agreement;

Examples of Earning Well in a sentence

  • Olympia shall give immediate notice to Participant when the Earning Well has reached contract depth and the logs and tests preliminary to casing have been run.

  • In the event Buyer completes an Earning Well on a Lease as a commercial producer of oil and/or gas, the Secondary Term Assignment shall be limited to the wellbore of such Earning Well.

  • Nation shall give immediate notice to Participant when the Earning Well has reached contract depth and the logs and tests preliminary to casing have been run.

  • Farmee shall deliver to Farmor an itemized statement of all costs incurred on the Farmout Acreage within sixty (60) days after completion of the Earning Well and quarterly statements thereafter of all costs, income and the monthly/cumulative production obtained from and/or attributable to Farmout Acreage.

  • The AMI shall have a term of the later of one (1) year from rig release of the last Earning Well drilled hereunder or the termination of earning by Farmee as provided for in this agreement.


More Definitions of Earning Well

Earning Well means the well to be drilled at 14 of 9-38-9-W5M.
Earning Well means a Well which FARMEE has determined to be capable of producing hydrocarbons in commercial quantities.
Earning Well means the well to be drilled at 14 of 9-38-9-W5M. “Farmin Interest” means two percent (2.000%) Farmin cost interest Farmee has agreed to pay with respect to the drilling of the Earning Well. “Farmout Lands” means the lands and leases more particularly described in Schedule “A” attached hereto.
Earning Well means one of the 15 xxxxx which K2 is obligated to drill pursuant to paragraph 6 of the Blackfeet-K2 EDA.
Earning Well means any Commitment Well or Option Well drilled pursuant to this Agreement;
Earning Well shall have the meaning given that term in Section 3.1.
Earning Well means each of the first sixteen (16) vertical Hydrocarbon xxxxx located on lands within the Gunsmoke Project in which Stratex elects to participate following the drilling and Completion of the Obligation Xxxxx.