Lateral Distance Factor definition
Lateral Distance Factor means, with respect to each Development Well, the fraction (not to exceed 1.0) obtained by dividing such well’s Perforated Length by 3,500 feet. For example, if the Perforated Length of a Development Well is 3,000 feet, the Lateral Distance Factor for such Development Well would be: 3,000 feet / 3,500 feet = 0.8571. In the event that the Perforated Length of a Development Well is greater than 3,500 feet, the Lateral Distance Factor shall nevertheless be deemed to be equal to 1.0. The Lateral Distance Factor shall be rounded to the nearest ten thousandth (i.e., four decimal places to the right of the decimal point).
Lateral Distance Factor means, with respect to each Development Well, the fraction (not to exceed 1.0) obtained by dividing such well’s Perforated Length by 2,500 feet. For example, if the Perforated Length of a Development Well is 2,000 feet, the computation would be: 2,000 feet / 2,500 feet = 0.8. Therefore, such Development Well would have a Lateral Distance Factor of 0.8. In no event shall the “Lateral Distance Factor” exceed 1.0. In the event that the Perforated Length of a Development Well is greater than 2,500 feet, the Lateral Distance Factor shall nevertheless be deemed to be equal to 1.0.
Lateral Distance Factor means, with respect to each Development Well, the fraction (not to exceed 1.0) obtained by dividing such well’s Perforated Length by 2,500 feet. For example, if the Perforated Length of a Development Well is 2,000 feet, the computation would be: 2,000 feet / 2,500 feet = 0.