Subsequent Work Program definition
Examples of Subsequent Work Program in a sentence
The drilling of a well after the first Exploration Well on a structure or in a prospective Field in an area subject to this Agreement, which is designed to test the same target formations as the first Exploration Well for that Field, is deemed to be part of a Subsequent Work Program.
Upon the earlier of the grant of PDL and the maximum expenditure limit being reached in paying for the Subsequent Work Program in respect of that Discovery Field, all further operations carried out in respect of that Discovery Field, including any remaining Subsequent Work Program, will be paid for in accordance with each party's Participation Interest and in accordance with the terms of the JVOA.
If, upon reaching Total Depth in any Exploration Well, InterOil, in its discretion, decides to continue operations on such a well, it will design a work program which may include logging or other evaluation or analysis, setting casing or running tubing, perforating and testing the well ("COMPLETION") and/or a Subsequent Work Program as described in Section 5.1.
Upon the earlier of the grant of the PDL and the maximum expenditure limit being reached in paying for the Subsequent Work Program, all further operations carried out in respect of that Discovery Field, including any remaining Subsequent Work Program in respect of that Discovery Field, will be paid for in accordance with each party’s Participation Interest and in accordance with the terms of the JVOA.
If, upon reaching Total Depth in any Exploration Well, InterOil, in its discretion, decides to continue operations on such a well, it will design a work program which may include logging or other evaluation or analysis, setting casing or running tubing, perforating and testing the well (“Completion”) and/or a Subsequent Work Program as described in Section 5.1.