Well, drilled definition
Examples of Well, drilled in a sentence
NEWFIELD or Ridgewood shall have the continuing option to drill additional Substitute ▇▇▇▇▇, provided that no more than sixty (60) days elapse between the date the drilling rig was released from the last operation on such Substitute Well and the commencement date of drilling operations for the next Substitute Well drilled therefor.
A directional Well drilled to an objective under the Contract Area from a nearby surface location not covered by the Contract shall be deemed to have the same effect for all purposes of the Contract as a Well drilled from a surface location on the Contract Area.
Any Substitute Well drilled shall be drilled pursuant to all the terms and conditions of this Agreement and the governing JOA as if drilled as the Initial Prospect Well.
Accordingly, the mortgage lien created by this Mortgage shall automatically terminate as to each Development Well drilled after the date hereof as the same is completed, along with each such Development Well’s corresponding Wellbore Leasehold Rights.
An area of mutual interest (AMI) shall be established to comprise all lands within one mile of the Farmout Lands and shall terminate one year after rig release of the Test Well drilled hereunder or one year from termination of this Agreement, whichever is the shorter.
The AMI shall have a term of the later of one (1) year from rig release of the last Earning Well drilled hereunder or the termination of earning by Farmee as provided for in this agreement.
With respect to a Commercial Oil Well drilled after the extended Exploration Period (i.e., prior to the Development Period) the CONTRACTOR shall give such notice of Commercial Discovery of Oil, not later than [REDACTED - NOTICE PERIOD CONSTITUTE SENSITIVE BUSINESS INFORMATION] following the completion of the [REDACTED - SENSITIVE BUSINESS INFORMATION] appraisal well, or [REDACTED - SENSITIVE BUSINESS INFORMATION] following the date of the discovery of such Commercial Oil Well, whichever is earlier.
Any Well drilled for the purpose of a Discovery shall be considered as an Exploration Well.
The Buyer and DOG LLC covenant and agree that the 20% working interest transferred and assigned by Buyer to DOG LLC in accordance with the provisions of Section 2(b) above shall be a “Carried Interest” (hereinafter defined) to production with respect to the Test Well drilled on a designated Lease as required by Section 13(f) below.
The $250,000 prepayment and the $110,000 prepayment are herein collectively referred to as the "Prepayment." The Prepayment will be credited to every third Well drilled by CBM, i.e. for every three ▇▇▇▇▇ CBM drills, CBM agrees to invoice Pennaco for two of such ▇▇▇▇▇ upon the completion of each Well and apply a portion of the Prepayment to pay the invoice for the third Well.