Evaluation Well definition
Evaluation Well means a Well drilled after a Discovery, with the objective of delimiting and mapping the deposit, as well as to estimate the quantity of recoverable Hydrocarbons.
Evaluation Well means any well in respect of which activity will be occurring during the Evaluation Program.
Evaluation Well means a well within the project evaluation area, based on bottom hole location, penetrating the target formation, including the following:
Examples of Evaluation Well in a sentence
IOGW shall, contemporaneously with the ------------------------- completion of Services on an Evaluation Well or any subsequent Project Well, execute and file a Memorandum of Assignment of Net Profits Interest substantially in the form attached as Exhibit G-2.
On or before March 31, 2007 Farmee shall spud a minimum of 8 Evaluation ▇▇▇▇▇ (collectively "the Year 1 Evaluation ▇▇▇▇▇" and individually an "Evaluation Well") at mutually agreeable locations on the Farmout Lands and shall then diligently and continuously drill the Evaluation ▇▇▇▇▇ to Contract Depth and core same throughout that geological formation known as "the ▇▇▇▇▇▇▇▇ formation" at its sole cost.
More Definitions of Evaluation Well
Evaluation Well means, in respect of the minimum level of evaluation requirements under sections 3(1) and 9(2), a well that is drilled and logged for the purposes of evaluating, in their entirety, each of the oil sands zones granted pursuant to an oil sands agreement, regardless of whether that well was drilled for purposes of producing oil, gas or crude bitumen;
Evaluation Well means a well, other than an exploration well, drilled in order to evaluate the commercial viability of a geologic trap where hydrocarbons have been discovered.