Lateral Line Equivalent definition

Lateral Line Equivalent is defined as one of the following depending on the Allocation Well’s “as drilled” plat filed with the Agency. If the surface location of the Allocation Well is situated on a tract of land with different mineral ownership than the tract of land where the First Take Point is located then the Lateral Line Equivalent shall be a line that begins at the First Take Point of an Allocation Well, runs laterally towards the terminus of the Allocation Well, and ends at the Last Take Point of such Allocation Well; If the surface location of the Allocation Well is situated on the same tract of land as the First Take Point then the Lateral Line Equivalent shall be a line that begins at the surface location of an Allocation Well, runs laterally towards the terminus of the Allocation Well, and ends at the point directly above the terminus of such Allocation Well; or If the surface location of the Allocation Well is situated on the same tract of land as the First Take Point but the First Take Point is further from the terminus of the Allocation Well than the surface location to the terminus of the Allocation Well, then the Lateral Line Equivalent shall be a line that begins at the First Take Point of the Allocation Well, runs laterally towards the terminus of the Allocation Well, and ends at the point directly above the terminus of such Allocation Well.
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Examples of Lateral Line Equivalent in a sentence

  • Operations on and oil and gas production from each Allocation Well shall be treated as if they were actual operations on or production from the Lease underlying the Lands, so long as there are perforations in that portion of the Lateral Line Equivalent lying in the Lands covered by the Lease.

  • In the event the Lateral Line Equivalent traverses a Pooled Unit which also covers the depths from which the Lateral Line Equivalent is producing, the production or proceeds therefrom attributable to the portion of the Lateral Line Equivalent traversing the Pooled Unit shall be allocated among the parties subject to the Pooled Unit in accordance with the terms of such Pooled Unit and this Agreement.