Unit Well definition

Unit Well means the first well drilled within a proposed Spacing Unit as defined by the bold outline on the map attached hereto as Exhibit “A.”

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Unit Well means a well that is:

Unit Well means a well drilled or acquired for the Unit Account and held for the Unit Account at the time referenced.

Examples of Unit Well in a sentence

Surface down to 9400' true vertical depth as seen in the ▇▇▇▇▇▇▇▇ Corporation – Aquamarine Unit Well No. 1 (API No. 42-057-31600).
Schedules 2(a) and 2(b) reflect the explicit agreement by Wexpro that the well known as Spearhead Ranch Unit Well No. 15 will be classified as a prior Wexpro well, the associated reservoir as a productive oil reservoir, and will be subject to the conditions and provisions of this Article II.
Rights below 50' below the stratigraphic equivalent of the top of the 9800' Sand, said top of the 9800' Sand being equal to 9790' TVD as seen on the electric log for the ▇▇▇▇▇▇▇▇ Corporation – Aquamarine Unit Well No. 1 (API No. 42-057-31600).
Rights between 9401' and 50' below the stratigraphic equivalent of the top of the 9800' Sand, said top of the 9800' Sand being equal to 9790' TVD as seen on the electric log for the ▇▇▇▇▇▇▇▇ Corporation – Aquamarine Unit Well No. 1 (API No. 42-057-31600).
The Unit shall have an option, to be exercised by notice to the abandoning JOA Group or Party on or before the end of the applicable period, to take over the Non-Unit Well for the Unit Account (in which event the well shall become a Unit Well) on the terms set forth in this Article.
Once BUCCANEER commences drilling operations on the first of the Northwest C▇▇▇ Inlet Unit W▇▇▇▇, the Northwest C▇▇▇ Inlet Unit W▇▇▇▇ Option shall immediately terminate along with any right of EOS to participate in the funding of a Northwest C▇▇▇ Inlet Unit Well.
Without limiting the foregoing, should monies attributable to Buyer’s interest in any Unit, Well or Lease be held back or placed in suspense for any reason, Buyer may place (or cause the applicable third-party payor of proceeds to place) any monies attributable to the Seller Reserved Overriding Royalty Interest in suspense with respect to such Unit, Well or Lease.
Notwithstanding the foregoing, with respect to any North C▇▇▇ Inlet Unit Well, OPERATIONS shall have and shall maintain in place insurance coverage satisfactory to EOS and BUCCANEER and at least equal to the coverage requirements set forth in the Deep Rights Farmout Agreement.
For purposes of adjustment of the Initial Purchase Price pursuant to Section 3.2(c)(3), the Seller’s expenditures with respect to the Unit Well shall be deemed to have been incurred by the Seller on behalf of the Buyer.
For purposes of this Agreement, "temporarily abandoned well" shall mean any well which is not specifically referenced for purchase in this Offer to Purchase and/or any well which is not capable of producing oil or gas in paying quantities (excluding tile Ethr▇▇▇▇ ▇▇▇ Unit, Well No.

More Definitions of Unit Well

Unit Well means a well drilled within the Unit Area after the effective date of this Agreement unless specifically authorized by the Commissioner.

Unit Well means a well drilled within the Unit Area after the effective date of this Agreement unless specifically authorized by the Commissioner. Unitized Substances means all oil, gas, and associated substances produced from the Unit Area.

Unit Well or "Unit ▇▇▇▇▇" whether individually or collectively, means any and all ▇▇▇▇▇ within WEHLU that are not Pilot ▇▇▇▇▇ or JVDA ▇▇▇▇▇, including without limitation those ▇▇▇▇▇ located on the properties listed in Exhibit "A" attached hereto and made a part hereof.

Unit Well means the first well drilled within a proposed Spacing Unit shown on the map attached hereto as Exhibit “A1.”

Unit Well has the meaning set forth in Section 9.1(a)(3).