Farmin definition

Farmin means by way of agreement, a party earns (farmin) an interest in lands comprising petroleum and natural gas rights from another party by drilling a well or similar activity that evaluates, explores or develops the lands for the production of petroleum substances;
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Farmin is defined in Section 6.2(a).
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Farmin means any contract right whereby Oil and Gas Interests, or an interest therein, may be earned by LINN or its Affiliates by the drilling of, or causing the drilling of, one or more well▇ ▇▇ LINN ▇▇ its Affiliates (including as subcontractor).
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Examples of Farmin in a sentence

  • Upon earning an interest in the Farmin Lands, the 1993 CAPL Assignment Procedure (the “Assignment Procedure”) shall apply.

  • The Farmee agrees to participate and pay for its Farmin Interest share of the costs of drilling the Earning Well to Contract Depth and, subject to the provisions herein set forth, its Farmin Interest share of the costs of the Completion, Capping or Abandonment of the Earning Well.

  • The Farmor and Farmee agree that all information shared between the parties concerning the Farmin Lands and the development thereof shall be held in confidence and shall not used for any purposes other than completing this transaction and matters directly related thereto.

  • The cost of the blow out insurance is in addition to the costs shown on the ▇▇▇▇▇▇▇▇ AFE and the Farmee agrees to pay its Farmin Interest share of such costs.

  • Farmee will pay a cash call advance to Farmor of one hundred and ten percent (110%) of its Farmin Interest share of the costs shown on the ▇▇▇▇▇▇▇▇ AFE as well as the estimated costs of the blowout insurance, both of which are to be received by Farmor six (6) days before the drilling rig begins to move.

  • The Farmee shall have fifteen (15) days from receipt of the Operator's notice to drill the substitute well to elect whether or not it wishes to participate in the substitute well as to its Farmin Interest.

  • All costs, if any, attributable to the acquisition, maintenance, renewal or relinquishment of licenses, permits, contractual and/or surface rights acquired for Joint Operations, when paid by Operator in accordance with the provisions of the Agreement provided that no such amount shall be charged to the Joint Account where payment of that amount, or of an amount in lieu thereof, is provided for in clause 6.5 of the Farmin and Participation Agreement.

  • Participant acknowledges that it has reviewed and is familiar with the Farmin Agreement attached hereto and agrees to abide by all the terms, conditions and obligations contained therein as though it were a party thereto.

  • No amount shall be payable by Avenue under the Agreement or this Accounting Procedure for or in connection with the works and operations the subject of clauses 4.4 and 4.5 of the Farmin and Participation Agreement.

  • Olympia warrants no better title to the Farmout Lands than has been conveyed to it pursuant to the terms of the Farmin Agreement.


More Definitions of Farmin

Farmin means the farmin or arrangement by which Enegex earns a Participating Interest in a Permit and the Relevant JVOA by meeting all future work commitments and obligations under the terms of the Permit and the Relevant JVOA with effect from the Effective Date in accordance with the terms and conditions of the Farmin Agreement and a reference to “Farmins” is a collective reference to all of such Farmins.
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Related to Farmin

  • Farming means the cultivation of land for the production of agricultural crops, the raising of poultry, the production of eggs, the production of milk, the production of fruit or other horticultural crops, grazing, the production of livestock, aquaculture, hydroponics, the production of forest products, or other activities designated by the authority by rules subject to chapter 17A.

  • Oil and Gas Leases means all leases, subleases, licenses or other occupancy or similar agreements (including any series of related leases with the same lessor) under which a Person leases, subleases or licenses or otherwise acquires or obtains rights to produce Hydrocarbons from real property interests.

  • Mineral means gas, oil, and coal; other gaseous, liquid, and solid hydrocarbons; oil shale; cement material; sand and gravel; road material; building stone; chemical raw material; gemstone; fissionable and nonfissionable ores; colloidal and other clays; steam and other geothermal resources; and any other substance defined as a mineral by a law of this state.

  • Gas well means a well producing gas or natural gas from a common source of gas supply as determined by the commission.

  • Oil and Gas Hedging Contracts means any oil and gas purchase or hedging agreement, and other agreement or arrangement, in each case, that is designed to provide protection against oil and gas price fluctuations.