Offset Well definition

Offset Well means a well drilled before or subsequent to the Effective Date, and contained in any Spacing Unit laterally or diagonally adjoining the Leased Lands, completed for production of the Leased Substances in Paying Quantities from the same zone(s) or formation(s) as the Leased Substances on the Leased Lands, which Spacing Unit is not owned by the Lessor or, if owned by the Lessor, not under lease to the Lessee.
Offset Well means a well required to be put on production of petroleum or natural gas by a lessee pursuant to an offset notice;
Offset Well means a well drilled directly opposite a State tract within a 40 acre square area, or within a directly op- posite unit spaced by the Oklahoma Corporation Commission, or within an area which is generally regarded as the develop- ment unit in the area.

Examples of Offset Well in a sentence

The Lessee has the duty and obligation to protect the Lessor against the drainage of Leased Substances from the Leased Lands as a result of an Offset Well.

Lessee may delay the drilling of an Offset Well for a period not to exceed one (1) year by making payments to Lessor in the same manner and amount equal to one-half (1/2) the royalties Lessee would have to pay pursuant to this Lease, as if the production being obtained from the Adjacent Well was being obtained from a well producing from the Leased Premises ( “Offset Royalties”).

Offset Well Administrative RuleThe current Policy of the Board and University and School Lands for the Enforcement of 1979 Oil and Gas Lease Form Provisions Relating to Offset Wells has been administered since 1987.

Includes horizontal wells completed since January 2010 (2) ESTE estimate of Middle Spraberry, Lower Spraberry and Wolfcamp A locations assuming 880’ well spacing IRM “Spanish Pearl” and Offset Well Results(1)IRM Spanish Pearl Area Activity Middle Spraberry Lower Spraberry Wolfcamp A Well # Well Name Operator TLL (ft.) 6 Month Oil Cum / 1,000' (bo) Comp.

Old Industry Usage Does Not Change the Plain Meaning and Express Purpose of This Offset Well Clause.The court of appeals assumed that the term “offset well” has a single, esoteric meaning in the oil and gas industry, other than its plain meaning in the context of this lease drafted to test and develop a shale formation that is extremely difficult to drain.


More Definitions of Offset Well

Offset Well means a well required to be completed and put on production by a holder pursuant to an offset notice or allowed to be completed and put on production by the holder pursuant to paragraph 44(3)(d); « puits de compensation »
Offset Well means any well drilled opposite another well on adjoining property with the specific purpose of preventing drainage to the adjoining property.
Offset Well means any well drilled opposite another well on adjoining property with the specific
Offset Well means a well required to be completed and put on production by a lessee pursuant to an offset notice or allowed to be completed and put on production by the lessee pursuant to section 21(3)(d);
Offset Well means an existing well or planned well to the extent known from available records, that is to be evaluated for risk of collision with a reference well because it is within the area-of- review of a reference well.
Offset Well means any well drilled subsequent to the effective date hereof and producing Leased Substances from any Spacing Unit laterally or diagonally adjoining the Lands, which Spacing Unit does not include lands owned by the Lessor or, if owned by the Lessor is not under lease to the Lessee;  robber
Offset Well means any well, drilled subsequent to the effective date hereof on any spacing unit laterally adjoining the said lands, which spacing unit does not include lands owned by the Lessor or, if owned by the Lessor, not under lease to the Lessee;