Exploratory Well definition

Exploratory Well means a well that is not a development well, a service well or a stratigraphic test well.

Exploratory Well means a well drilled to find and produce oil or natural gas reserves not classified as proved, to find a new productive reservoir in a field previously found to be productive of oil or natural gas in another reservoir or to extend a known reservoir.

Exploratory Well means a well drilled to find commercially productive hydrocarbons in an unproved area, to find a new commercially productive horizon in a field previously found to be productive of hydrocarbons at another horizon, or to significantly extend a known prospect.

Examples of Exploratory Well in a sentence

• The interval consisting of the deepest zone, formation, or horizon to be tested in an Exploratory Well, Development Well, Deepening operation, or Sidetracking operation, as stated in the AFE and approved by the Participating Parties.

• Within _________ (__) days of the selection of the substitute Operator, the substitute Operator shall propose the drilling of an identical Exploratory Well (except for any necessary modifications resulting from a change in the drilling rig to be utilized by the substitute Operator), and it shall commence drilling operations on that well within _________ (___) days after the end of the period for the approval of that Well.

• If a proposal to plug and abandon an Exploratory Well receives approval by Vote, the approved proposal binds all Parties.

• After the Program Term, McMoRan and/or Participant shall have the right to propose the drilling of an Exploratory Well on a Prospect in accordance with Paragraph 9.2 hereof.

• A well proposal notice shall include the type of well being proposed, (for example, Exploratory Well, Appraisal Well, or Development Well), a Well Plan, and an AFE that includes the Costs of permanently plugging and abandoning the well.

More Definitions of Exploratory Well

Exploratory Well means a well drilled either in search of a new, as-yet undiscovered oil or natural gas reservoir or to greatly extend the known limits of a previously discovered reservoir;

Exploratory Well means a well drilled or to be drilled (as the case may be) in search of Petroleum to test a geological feature, which has not been determined to contain producible Petroleum sufficient for Commercial Production;

Exploratory Well means a well drilled in search of petroleum to test a geological feature which has not been determined to contain petroleum in commercial quantities;

Exploratory Well means any well drilled (i) to find and produce gas or oil in an unproven area, (ii)

Exploratory Well means a well which is drilled to investigate whether hydrocarbons are present in a formation or other unit within a geological structural or stratigraphic trap in which the presence of hydrocarbons has not previously been demonstrated. The reopening and redrilling of a well shall not be considered a new Exploratory Well unless this is approved by the HA.

Exploratory Well means a well drilled on a geological feature on which a significant discovery has not been made;

Exploratory Well means any well drilled (i) to find and produce gas or oil in an unproven area, (ii) to find a new reservoir in a field previously found to be productive of gas or oil in another reservoir, or (iii) to extend the limits of a known gas or oil reservoir.