Supplemental AFE definition

Supplemental AFE shall have the meaning given to such term in Section 2.18.
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Supplemental AFE means the document used to secure Approval of the JDC-ML for Capital Costs that are outside the scope of, or in excess of the authorized amount under the then current AFE, reflecting all Capital Costs incurred to the date of that AFE, plus Capital Costs for which funding approval is requested;
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Examples of Supplemental AFE in a sentence

  • If Operator determines that the Overexpenditure will exceed the Allowable Variance, Operator shall submit a new AFE for the current operation ("Supplemental AFE") for approval of the Participating Parties.

  • When costs are anticipated to exceed 120% of a previously approved AFE, OPERATOR shall issue a Supplemental AFE for information purposes only Subject to any election provided in Article X and XI, approval of a well operation shall include approval of all necessary expenditures through installation of the wellhead.

  • Lender shall respond to any such Supplemental AFE within the time period provided for in Section 2.03(c).

  • The Participating Parties may then elect whether to continue to participate within thirty (30) days or forty-eight (48) hours if a rig is on location, inclusive of Saturdays, Sundays, and federal holidays, after receipt of the Supplemental AFE.

  • If Lender elects not to consent to the Supplemental AFE or is deemed to have elected not to consent to the Supplemental AFE, Borrower shall have the right to either (i) terminate its participation in the operation covered by the Supplemental AFE or (ii) continue its participation in such operation.

  • For an Exploratory Well operation after Casing Point on an Initial Test Well or its Substitute Well, as such terms are defined in the Dominion EPA and the Ridgewood EPA, if Operator determines that the Overexpenditure will exceed the Allowable Variance, Operator shall submit a new AFE for the current operation ("Supplemental AFE") for approval of the Participating Parties.

  • The Participating Parties may then elect whether to continue to participate within thirty (30) days or forty-eight (48) hours if a rig is on location, exclusive of Saturdays, Sundays, and federal holidays, after receipt of the Supplemental AFE.

  • The JDC-ML shall consider such proposal and, if the JDC-ML so directs, the Project Manager shall prepare and submit to the JDC-ML a revised Budget and Supplemental AFE incorporating any such amendments.

  • An initial Participating Party in an operation shall remain responsible for its share of all costs and risks for plugging, replugging, capping, burying, disposing, abandoning, removing, and restoring associated with the operation, subject to Article 14 (Abandonment, Salvage, and Surplus), regardless of its subsequent election on a Supplemental AFE, except to the extent such costs were increased by subsequent operations in which it elected not to participate.

  • All Third Party Pre-CSED Costs shall be paid in the first instance by the Party contracting with the third party and shall be recorded and tracked in accordance with the Cost Accounting Protocol based on the Approved Pre-CSED AFE or Supplemental AFE.

Related to Supplemental AFE

  • Supplemental Agreement Any supplemental agreement entered into pursuant to Article IX hereof.

  • Supplemental contract means a written agreement entered into for the distribution of proceeds under a life, health, or annuity policy or contract.

  • Supplemental Agreements means the First Supplemental Agreement, the Second Supplemental Agreement, the Third Supplemental Agreement, the Fourth Supplemental Agreement, the Fifth Supplemental Agreement and the Sixth Supplemental Agreement.

  • Supplemental Amount The amount deposited in the Supplemental Loan Account on the Closing Date, which shall equal $0.00.

  • Supplemental Terms means the product specific supplemental terms and conditions which include additional or different terms and conditions to those in the Cloud GTCs for the provision of specific Cloud Services which are made available on http://www.sap.com/company/legal.