Well Costs means CWEI’s share of costs pursuant to any Operating Agreement for the drilling, completing, equipping, deepening or sidetracking a Well, including, without limitation: (i) the costs of surveying and staking the Well, the costs of any surface damages and the costs of clearing, coring, testing, logging and evaluating the Well; (ii) the costs of casing, cement and cement services for the Well; (iii) the cost of plugging and abandoning the Well (including standard and customary remediation activities associated therewith), if it is determined that the Well would not produce in commercial quantities and should be abandoned; (iv) all direct charges and overhead chargeable to CWEI with respect to the Well under any applicable Operating Agreement until such time as all operations are carried out as required by applicable regulations and sound engineering practices to make such Well ready for production, including the installation and testing of wellhead equipment, or to plug and abandon a dry hole; (v) all costs incurred by CWEI in recompleting or plugging back any Well; (vi) all costs incurred by CWEI in reworking any Well if the rework is covered by an authority for expenditure under the applicable Operating Agreement; (vii) all costs incurred by CWEI in locating, drilling, completing, equipping, deepening or sidetracking any enhanced recovery producer or injector Well (including the costs of all necessary surface equipment such as steam generators, compressors, water treating facilities, injection pumps, flow lines and steam lines); and (viii) the costs of constructing production facilities, pipelines and other facilities necessary to develop property acquired pursuant to the terms hereof and produce, collect, store, treat, deliver, market, sell or otherwise dispose of oil, gas and other hydrocarbons and minerals therefrom; provided, that Well Costs shall not include any Acquisition Costs.
Well Costs means the Partnership’s share of costs pursuant to any Operating Agreement for the drilling, completing, equipping, deepening or sidetracking a Well, including, without limitation: (i) the costs of surveying and staking the Well, the costs of any surface damages and the costs of clearing, coring, testing, logging and evaluating the Well; (ii) the costs of casing, cement and cement services for the Well; (iii) the cost of plugging and abandoning the Well (including standard and customary remediation activities associated therewith), if it is determined that the Well would not produce in commercial quantities and should be abandoned; (iv) all direct charges and overhead chargeable to the Partnership with respect to the Well under any applicable Operating Agreement until such time as all operations are carried out as required by applicable regulations and sound engineering practices to make such Well ready for production, including the installation and testing of wellhead equipment, or to plug and abandon a dry hole; (v) all costs incurred by the Partnership in recompleting or plugging back any Well; (vi) all costs incurred by the Partnership in reworking any Well if the rework is covered by an authority for expenditure under the applicable Operating Agreement; (vii) all costs incurred by the Partnership in locating, drilling, completing, equipping, deepening or sidetracking any enhanced recovery producer or injector Well (including the costs of all necessary surface equipment such as steam generators, compressors, water treating facilities, injection pumps, flow lines and steam lines); and (viii) the costs of constructing production facilities, pipelines and other facilities necessary to develop Partnership property acquired pursuant to the terms hereof and produce, collect, store, treat, deliver, market, sell or otherwise dispose of oil, gas and other hydrocarbons and minerals therefrom; provided, that Well Costs shall not include any Acquisition Costs.
Well Costs means in respect of an exploration well, all direct and indirect costs incurred in the planning and drilling of the well, including but not limited to the following operations and costs:
Examples of Well Costs in a sentence
Operator may withhold the following costs and charges from the share of production due to each owner of a Pooled Working Interest who paid its share of the Estimated Well Costs: (a) the proportionate share of the Supervision Charges; and (b) the proportionate share of the Operating Charges.
An owner of a Pooled Working Interest who elects to pay its share of the Estimated Well Costs shall render payment to Operator no later than thirty (30) days after the expiration of the election period, and shall be liable for operating costs, but not risk charges, for the well.
No later than thirty (30) days after Operator submits the Estimated Well Costs, the owner of a Pooled Working Interest shall elect whether to pay its share of the Estimated Well Costs or its share of the actual costs to drill, complete and equip the well (“Actual Well Costs”) out of production from the well.
Operator may withhold the following costs and charges from the share of production due to each owner of a Non-Consenting Pooled Working Interest: (a) the proportionate share of the Reasonable Well Costs; (b) the proportionate share of the Supervision and Operating Charges; and (c) the percentage of the Reasonable Well Costs specified as the charge for risk described in Exhibit A.
Operator shall distribute a proportionate share of the costs and charges withheld pursuant to paragraph 29 to each Pooled Working Interest that paid its share of the Estimated Well Costs.
More Definitions of Well Costs
Well Costs means the costs and expenses of all services and materials shown on the AFE and use (and associated with drilling, sidetracking, deepening and testing a well hereunder, including, but not limited t0 (the costs and expenses associated with the following items: (1) permitting with applicable government agencies (2) drill site preparation and facility modifications (including removal of existing conductors due to structural load requirements, but excluding hazard surveys, which are provided for in Section 15.2 of this Agreement); (3) actual drilling, deepening or sidetracking operations (including mobilization and demobilization of the rig to the( drill site); (4) logging, coring and testing of the well for the presence of oil and/or gas; (5) the costs of plugging and abandonment if the well is not completed for production; and (6) the cost to temporarily abandon a well. Al such costs and expenses will be determined in accordance with the accounting procedure attached to the applicable Operating Agreement.
Well Costs means all costs chargeable under the applicable accounting procedure attached to and made a part of the Operating Agreement incurred (a) Through the Tanks in drilling, deepening, sidetracking, plugging back, testing, completing, recompleting and equipping an oil, gas or other hydrocarbon well, or for the plugging and abandonment of the same in the event a well is completed as a dry hole (whether or not a completion attempt is made), or (b) through completion in drilling, completing and equipping a saltwater disposal well. “Well Costs” specifically include Drilling and Completion Costs, Fracing Costs and (i) all costs incurred in connection with operations in preparation for drilling; (ii) all costs incurred for the settlement of claims for surface damage incurred in connection with the drilling, completion of a well Through the Tanks or the plugging and abandonment of a well; (iii) costs of restoring the well site in accordance with applicable governmental and/or lease requirements following completion of drilling and completion operations; and (iv) title examination expense and title curative costs incurred in connection with drilling of a well. In no event shall “Well Costs” include any costs incurred in marketing or making the oil and gas marketable or incident to marketing oil and gas (excepting only those on-lease activities and · costs included in the definition of “Through the Tanks”).
Well Costs means the costs and liabilities incurred in connection with drilling, testing and completing a well, including, but not limited to, plugging and abandoning costs if the well is completed as a dry hole and the costs of equipping the well for production if it is completed as a producer.
Well Costs means all costs (including permit management, pre-planning and inventory purchase) incurred by the Operator in drilling the Kereru 1 Well but which expressly excludes the cost of purchase of the 7" casing and spool. 1.1.13 "Kereru 1 Well" means the well referred to as Kereru 1 at a location defined by the coordinates 39' 39' 40.5" south and 176' 26' 12.3" east, being Peg 216 on seismic line C91-04 to be drilled, to either a programmed depth of 1700 metres or 100 metres deeper than the Miocene/Pliocene unconformity, whichever is the lesser, or as otherwise may be agreed. 1.1.14 "Minister" means the Minister of Energy as defined in the Act who administers the approval and registration procedure under the Act. 1.1.15 "Boral Energy Participating Interest" means together the Indo-Pacific Assigned Interest and the Moondance Assigned Interest assigned to Boral Energy. 1.2 Interpretation Rules In this Agreement, unless a contrary intention appears: 158 1.2.1 a reference to this Agreement is a reference to this Agreement as amended, varied, novated or substituted from time to time; 1.2.2 a reference to any legislation or any provision of any legislation includes: (a) all regulations, orders or instruments issued under the legislation or provisions; and (b) any modification, consolidation, amendment, re-enactment, replacement or codification of such legislation or provision; 1.2.3 a word: (a) importing the singular includes the plural and vice versa; and (b) denoting an individual includes corporations, firms, unincorporated bodies, authorities and instrumentalities; 1.2.4 a reference to a Party to this Agreement or any other instrument includes that Party's executors, administrators, successors or permitted assigns; 1.2.5 where a word or phrase is given meaning, any other part of speech or grammatical form has a corresponding meaning; and 1.2.6 a reference to a clause number, schedule number or annexure number (or letter) is a reference to a clause, schedule or annexure of this Agreement; 1.2.7 words and expressions used in this Agreement which are used in the Act shall where the context admits have the same meaning as they have in the Act. 1.3 Entire Agreement This Agreement is the entire agreement between the Parties as to its subject matter and supersedes all prior agreements, representations and understandings. 1.4 Amendments No amendment of, or addition to this Agreement is binding unless it is in writing and executed by the Parties. 159 1.5 Headings Any headi...
Well Costs means as to any Well, all costs incurred prior to the removal of the flowback equipment from the Well site (but in no event later than ninety (90) days after the date of first sale of production from such Well) for the drilling, equipping, evaluating and completing Through the Tanks (or plugging and abandoning, if not completed) of such Well, the original estimated amounts of which have been set forth in an AFE. For purposes of this Agreement, “Well Costs” shall include all costs incurred in the drilling, equipping, evaluation and completion Through the Tanks (or plugging and abandoning) of a Well including, without limitation, the following costs: costs of acquiring, by purchase, lease or otherwise, of surface sites for drilling and completion, constructing and upgrading access roads, obtaining and preparing the location, obtaining permits and additional title opinions, obtaining drilling contractor services and consultants, obtaining mud chemicals, wellhead equipment, tubing, pipe and supplies, separators, flowlines, water disposal, water acquisition, all other costs and expenses associated with or incurred in moving in, rigging up, drilling, logging and testing so that a decision can be made to either attempt to set pipe and complete such Well Through the Tanks or to plug and abandon such Well as a dry hole, and costs of fracture stimulation and the drilling out of frac plugs.
Well Costs shall include all costs incurred in the drilling, equipping, evaluation and completion Through the Tanks (or plugging and abandoning) of a Well including, without limitation, the following costs: costs of acquiring, by purchase, lease or otherwise, of surface sites for drilling and completion, constructing and upgrading access roads, obtaining and preparing the location, obtaining permits and additional title opinions, obtaining drilling contractor services and consultants, obtaining mud chemicals, wellhead equipment, tubing, pipe and supplies, separators, flowlines, water disposal, water acquisition, all other costs and expenses associated with or incurred in moving in, rigging up, drilling, logging and testing so that a decision can be made to either attempt to set pipe and complete such Well Through the Tanks or to plug and abandon such Well as a dry hole, and costs of fracture stimulation and the drilling out of frac plugs.
Well Costs means the Participant’s share of costs pursuant to any Operating Agreement for the drilling, completing, equipping, deepening or sidetracking a Well, including, without limitation: (i) the costs of surveying and staking the Well, the costs of any surface damages and the costs of clearing, coring, testing, logging and evaluating the Well; (ii) the costs of casing, cement and cement services for the Well; (iii) the cost of plugging and abandoning the Well (including standard and customary remediation activities associated therewith), if it is determined that the Well would not produce in commercial quantities and should be abandoned; (iv) all direct charges and overhead chargeable with respect to the Well under any applicable Operating Agreement until such time as all operations are carried out as required by applicable regulations and sound engineering practices to make such Well ready for production, including the installation and testing of wellhead equipment, or to plug and abandon a dry hole; (v) all costs incurred recompleting or plugging back any Well; (vi) all costs incurred in reworking any Well if the rework is covered by an authority for expenditure under the applicable Operating Agreement; (vii) all costs incurred in locating, drilling, completing, equipping, deepening or sidetracking any enhanced recovery producer or injector Well (including the costs of all necessary surface equipment such as steam generators, compressors, water treating facilities, injection pumps, flow lines and steam lines); and (viii) the costs of constructing production facilities, pipelines and other facilities necessary to develop a Property and produce, collect, store, treat, deliver, market, sell or otherwise dispose of oil, gas and other hydrocarbons and minerals therefrom; provided, that Well Costs shall not include any Acquisition Costs.