Objective Zone definition

Objective Zone with respect to any Substitute Well or Additional Well, means the deepest Zone to which the Substitute Well or Additional Well is proposed to be drilled as provided in the relevant AFE for such well.
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Objective Zone with respect to the Initial Well, means the base of the Tuscaloosa C-1 sand, being the stratigraphic equivalent of the base of the Tuscaloosa C-1 sand as seen at 18,484 feet (electrical log measurement) for the Amarex - Major Heirs No. 1 well, located in Section ▇▇, ▇▇▇▇▇▇▇▇ ▇ ▇▇▇▇▇, ▇▇▇▇▇ 10 East, Pointe Coupee Parish, Louisiana, or eighteen thousand, five hundred feet measured depth (18,500’ MD), whichever occurs first in the Initial Well. The term “Objective Zone”, with respect to any Substitute Well or Additional Well, means the deepest Zone to which the Substitute Well or Additional Well is proposed to be drilled as provided in the relevant AFE for such well.
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Objective Zone with respect to the Initial Well, means the stratigraphic equivalent of the base of the deepest Zone penetrated in the Initial Well, or eighteen thousand six hundred feet measured depth (18,600’ MD), whichever occurs first in the Initial Well. The term “Objective Zone”, with respect to any Substitute Well or Additional Well, means the deepest Zone to which the Substitute Well or Additional Well is proposed to be drilled as provided in the relevant AFE for such well.
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Examples of Objective Zone in a sentence

  • The AFE for the Substitute Well shall include, at a minimum, the surface and bottomhole location of the Substitute Well, the Objective Zone, and the estimated costs for the Substitute Well as a dry hole and as a producer.

  • Company shall pay 11.67% of the Drilling Costs of the Initial Well, regardless of whether the Initial Well is successfully drilled to the Objective Zone.

  • The AFE for the Deep Test Well shall include, at a minimum, the surface and bottomhole location of the Deep Test Well, the Objective Zone, and the estimated costs for the Deep Test Well as a dry hole and as a producer.

  • When and if Casing Point is reached in the Deep Test Well, BP shall give written notice to Company of such occurrence, and such notice shall state whether BP proposes to attempt to Complete the Deep Test Well as a producer, whether in the Objective Zone or in a shallower Zone, or to abandon the Deep Test Well as a dry hole.

  • Company shall pay 16.67% of the Drilling Costs of the Initial Well, regardless of whether the Initial Well is successfully drilled to the Objective Zone.


More Definitions of Objective Zone

Objective Zone with respect to the Initial Well and except as provided in Section 2.2(C), means the base of the Tuscaloosa C-1 sand, being the stratigraphic equivalent of the base of the Tuscaloosa C-1 sand as seen at 18,485 feet (electrical log measurement) for the Amarex - Major Heirs No. 1 well, located in Section ▇▇, ▇▇▇▇▇▇▇▇ ▇ ▇▇▇▇▇, ▇▇▇▇▇ 10 East, Pointe Coupee Parish, Louisiana, or eighteen thousand, six hundred feet measured depth (18,600’ MD), whichever occurs first in the sidetrack of the original wellbore in the Initial Well. The term “Objective Zone”, with respect to any Substitute Well or Additional Well, means the deepest Zone to which the Substitute Well or Additional Well is proposed to be drilled as provided in the relevant AFE for such well.
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Related to Objective Zone

  • Attainment area means a geographic area designated by EPA at 40 CFR Part 81 as having attained the National Ambient Air Quality Standard for a given criteria pollutant.

  • Nonattainment area means an area so designated by the administrator, acting pursuant to Section 107 of the Act.

  • Specific goals means specific goals as contemplated in section 2(1)(d) of the PPPFA which may include contracting with persons, or group of persons, historically disadvantaged by unfair discrimination on the basis of race, gender and disability including the implementation of programmes of the Reconstruction and Development Programme as published in Government Gazette No. 16085 dated 23 November 1994.

  • Contract Specific Goals means the subcontracting goals for MBE and WBE participation established for a particular contract.

  • Business Criteria means any one or any combination of Income before Taxes, Net Income, Return on Equity, Return on Assets, Pre-tax Margin, Free Cash Flow, Valuation or EPS.