Identified Development Drilling definition

Identified Development Drilling means all drilling and completing, or plugging and abandoning (after a determination that a well is not a Commercial Well), of a Production Partnership Well drilled by or on behalf of the Production Partnership to a reservoir on a Lease or an offset Lease constituting all or a portion of a Producing Property or the recompletion of an existing Production Partnership Well, where (i) the drilling or recompletion of such Production Partnership Well commences after the acquisition of such Producing Property by the Production Partnership and is conducted in order to commence production of Hydrocarbons from Proved Undeveloped Reserves identified in the Acquisition Reserve Report or Engineering Audit Letter prepared in connection with such Producing Property, (ii) the costs of development of the Proved Undeveloped Reserves were taken into account in such Acquisition Reserve Report or Engineering Audit Letter in valuing such Proved Undeveloped Reserves attributable to such Producing Property, and (iii) a portion of the cost paid by the Production Partnership for such Producing Property is attributed by such Acquisition Reserve Report or Engineering Audit Letter to such Proved Undeveloped Reserves. The term, Identified Development Drilling, shall also refer to any Production Partnership Wells drilled or recompleted on a P▇▇▇▇▇ing Property subsequent to the initial Identified Development Drilling conducted on such Producing Property in order to commence production of Hydrocarbons from Proved Undeveloped Reserves (in addition to those identified in the related Acquisition Reserve Report or Engineering Audit Letter) which have been categorized by the Managing Partner as Proved Undeveloped Reserves by virtue of production obtained from prior Identified Development Drilling conducted on such Producing Property. Any reference to costs incurred in connection with Identified Development Drilling shall include the interest, commitment fees and other financing charges and expenses of Production Partnership borrowings incurred to finance Identified Development Drilling.
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Examples of Identified Development Drilling in a sentence

  • All fees and payments to the General Partner required by Section 4.12B, Commissions and costs incurred in connection with Identified Development Drilling (including any interest, commitment fees and other finance charges with respect to borrowing incurred in connection therewith) and Property Acquisition Costs will be charged 99% to the Unit Holders and 1% to the General Partner.

  • The Partnership shall not conduct any drilling of ▇▇▇▇▇ other than Development Drilling and Identified Development Drilling; provided, however, that the drilling of ▇▇▇▇▇ other than Development Drilling and Identified Development Drilling may be performed on behalf of the Partnership pursuant to Farmouts or when such drilling may be deemed necessary or appropriate to preserve or protect the Partnership's interest in or the production from a Producing Property.

  • The Managing Partners may not expend any amount of Production Partnership funds over the term of the Production Partnership for the payment of Production Partnership costs (other than recompletion costs) incurred in connection with Development Drilling and Identified Development Drilling in excess of 10% of the amount of the Limited Partners' capital contributions to the Limited Partnership and the Production Partnership borrowings.

  • The Production Partnership shall not conduct any drilling of wells other than Development Drilli▇▇ ▇▇d Identified Development Drilling; provided, however, that the drilling of wells other than Development Dri▇▇▇▇▇ and Identified Development Drilling may be performed on behalf of the Production Partnership pursuant to Farmouts.

  • The Production Partnership shall not conduct any drilling of wells other than Development Drilli▇▇ ▇▇d Identified Development Drilling; provided, however, that the drilling of wells other than Development Dr▇▇▇▇▇g and Identified Development Drilling may be performed on behalf of the Production Partnership pursuant to Farmouts.

  • The square footage of the project area is approximately 23,100 sf (110’-0” x 210’-0”).

  • The Partnership shall not conduct any drilling of wells other than ▇▇▇▇lopment Drilling and Identified Development Drilling; provided, however, that the drilling of wells other tha▇ ▇▇velopment Drilling and Identified Development Drilling may be performed on behalf of the Partnership pursuant to Farmouts or when such drilling may be deemed necessary or appropriate to preserve or protect the Partnership's interest in or the production from a Producing Property.

  • The Partnership shall not conduct any drilling of wells other ▇▇▇▇ Development Drilling and Identified Development Drilling; provided, however, that the drilling of wells other ▇▇▇n Development Drilling and Identified Development Drilling may be performed on behalf of the Partnership pursuant to Farmouts or when such drilling may be deemed necessary or appropriate to preserve or protect the Partnership's interest in or the production from a Producing Property.

  • The Production Partnership shall not conduct any drilling of wells other than Development Drilli▇▇ ▇▇d Identified Development Drilling; provided, however, that the drilling of wells other than Development Drill▇▇▇ ▇nd Identified Development Drilling may be performed on behalf of the Production Partnership pursuant to Farmouts.

  • The General Partner may not expend any amount of Partnership funds over the term of the Partnership for the payment of Partnership costs (other than recompletion costs) incurred in connection with Development Drilling and Identified Development Drilling in excess of 10% of the sum of: (i) the amount of the Unit Holders' Subscriptions, plus (ii) the Partnership's permissible borrowings.