Upstream Projects definition
Upstream Projects that means those opportunities for joint operations to explore for, win, take and produce hydrocarbons from petroleum and natural gas leases, the rights to which Sapphire and MB Gas may acquire by purchase of existing petroleum and natural gas leases, or by acquisition from the mineral rights holder under new petroleum and natural gas leases, or by way of exploration agreements such as seismic data acquisition agreements, seismic data processing agreements, farmout agreements or other performance option agreements;