E&P Rights definition

E&P Rights means the right to use, possess, occupy and operate Platform Grace for exploration and production related activities including exploration for, and the production of, Hydrocarbons, and the drilling, completion, equipping, operating, plugging and abandoning of ▇▇▇▇▇, including re-entering existing wellbores, sidetracking, and/or recompleting existing ▇▇▇▇▇ and wellbores, and drilling new ▇▇▇▇▇, including the RTP Program.
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Examples of E&P Rights in a sentence

  • From the Effective Date through the Exercise Date, Venoco shall have the right to exercise its E&P Rights, subject only to the terms and conditions of this Agreement.

  • Venoco shall cease exercise of all other E&P Rights on Platform Grace (except for Permitted Operations) by no later than the date on which the P&A Obligations are completed (the "P&A Completion Date") and shall cease all other activity on Platform Grace (except for Permitted Operations), including the removal of Platform Equipment that Venoco wishes to re-use or salvage, by not later than the Closing Date.

  • Consistent with Section 4.1(b) above, Venoco shall continue to communicate with any Governmental Authority involved in connection with the exercise of its E&P Rights and programs consistent therewith (including the RTP Program), such communication to be consistent with Venoco's legal obligations and responsibilities to such Governmental Authority in connection with Venoco's ownership or operation of Platform Grace, the MMS Lease and/or the Santa ▇▇▇▇▇ Unit.

  • If requested by Buyer, Venoco shall provide Buyer with copies of all correspondence with Governmental Authorities pertaining to Platform Grace, the MMS Lease or its exercise of the E&P Rights (including the RTP Program).

  • Consistent with Section 5.1(a) above, Venoco shall continue to communicate with any Governmental Authority involved in connection with the exercise of its E&P Rights and programs consistent therewith (including the RTP Program), such communication to be consistent with Venoco's legal obligations and responsibilities to such Governmental Authority in connection with Venoco's ownership or operation of Platform Grace, the MMS Lease and/or the Santa ▇▇▇▇▇ Unit.

  • If requested by Clearwater, Venoco shall provide Clearwater with copies of all correspondence with Governmental Authorities pertaining to Platform Grace, the MMS Lease or its exercise of the E&P Rights (including the RTP Program).

  • Venoco shall, at its own expense, use commercially reasonable efforts to continue to meet its contractual and regulatory obligations, and to maintain all rights, privileges and Governmental Approvals necessary to maintain Platform Grace and the MMS Lease, as well as paying all costs related to its exercise of E&P Rights (including the RTP Program) and the Pigging and Pipeline Operations.