Undeveloped acreage definition

Undeveloped acreage means lease acreage on which wells have not been drilled or completed to a point that would permit the production of commercial quantities of oil and natural gas regardless of whether such acreage contains proved reserves.

Undeveloped acreage means those leased acres on which wells have not been drilled or completed to a point that would permit the production of economic quantities of oil and gas, regardless of whether or not such acreage contains proved reserves. Terms used to assign a present value to or to classify our reserves:

Undeveloped acreage means those leased acres on which wells have not been drilled or completed to a point that would permit the production of economic quantities of crude oil and natural gas, regardless of whether or not such acreage contains proved reserves. Undeveloped acreage includes net acres under the bit until a productive well is established in the spacing unit.

Examples of Undeveloped acreage in a sentence

• Undeveloped acreage includes real estate that can be sold “as is” (i.e., no infrastructure or development work has begun on such property).

• Undeveloped acreage includes leased acres on which wells have not been drilled or completed to a point that would permit the production of commercial quantities of oil and gas, regardless of whether or not such acreage contains proved reserves.

• Undeveloped acreage should not be confused with undrilled acreage held by Production under the terms of a lease.Undrilled acreage held by production under the terms of a lease is included in the Developed Acreage category total shown below.

• Undeveloped acreage encompasses those leased acres on which wells have not been drilled or completed to a point that would permit the production of economic quantities of oil or gas regardless of whether such acreage contains proved reserves.Of our 22,913 gross acres at Poplar, approximately 18,000 acres (78%) form a Federal Exploratory Unit which is held by production from any one well.

• Undeveloped acreage includes real estate that can be sold “as is” (i.e., planning, infrastructure or development work is not currently in progress on such property).

More Definitions of Undeveloped acreage

Undeveloped acreage means the lands burdened by the Leases (or portions thereof) to the extent such lands are not included in any proration or drilling unit of any Well described on Part 1 of Exhibit A-2.

Undeveloped acreage means any Land or other acreage not pooled, communitized or unitized with or otherwise committed to a “Unit”. “Units” shall have the meaning set forth in the definition of “Assets”.

Undeveloped acreage means acreage under lease on which wells have not been drilled or completed such that there is not production of commercial quantities of hydrocarbons;

Undeveloped acreage means leased acres on which wells have not been drilled or completed to a point that would permit the production of commercial quantities of crude oil and natural gas, regardless of whether or not such acreage contains proved reserves.

Undeveloped acreage means those leased acres on which wells have not been drilled or completed to a point that would permit the production of economic quantities of oil and gas, regardless of whether or not such acreage contains proved reserves.Our Properties We do not currently have title to any oil and gas properties, however, we hold an interest in an oil and gas company that holds oil and gas leases and we have a mineral rights agreement to acquire certain oil and gas leases as detailed below. CEC North Star Properties Land We are a 31.4% shareholder in North Star. North Star has 73 sections comprised of 46,720 acres of oilsands leases in the Manning area of northwestern Alberta. We hold an indirect interest in this project by virtue of our ownership in North Star. The following maps depict the North Star lands as located in the Province of Alberta and the North Star lands in relation to their locations in the township:

Undeveloped acreage has the meaning set forth in Section 2.04.

Undeveloped acreage means acreage on which we do not have a productive well and includes exploratory acreage; and