Wellbore Only definition

Wellbore Only means the investors will acquire an interest in a single wellbore, and not the remainder of the Lease(s) on which the wellbore is located. As a result, subject to spacing limitations imposed by the State, offset wells could be drilled in close proximity to the wells to which investors acquire royalty interests, and the investors may not acquire an interest in such offset well. It is possible that an offset well could produce the same formation and/or reservoir and thus reduce the total production (and corresponding revenue) to be recovered by the investors.
Sample 1

Examples of Wellbore Only in a sentence

  • EXHIBIT D Form of Overriding Royalty Agreement Wellbore Only This Overriding Royalty Agreement is made as of ________________, 2010, between [all license holders who are granting the OXX] (foregoing parties are collectively the "Grantor") and GeoGlobal Resources (India) Inc.

  • Seller Submitted Addendum, if any Exhibit “A” – Form Assignment to EF VC2 Exhibit “B” – Leases forming Underlying Leasehold Estate Exhibit “C” – Existing Joint Operating Agreements or Wellbore Only JOA to be Executed Upon Completion and Assignment to Seller Exhibit “D” – Authority for Expenditure and Work Program IT IS UNDERSTOOD THAT ANY REFERENCE TO “DRILLING” IS INTENDED TO BE A REFERENCE TO RE-WORKING AND RE-COMPLETION OPERATIONS.

  • Consistent with Legacy’s “well-bore only” interests in the Wells, the JOA contains a Wellbore Only Limitation, which provides that the agreement is applicable only to the “operation and production of the Wellbores.” JOA, Art.

Related to Wellbore Only

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  • Fields means Field 1 and Field 2.

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  • Terminals means, collectively (a) the Initial Terminals; and (b) any other terminals, storage facilities, wharfage, tankage and loading racks owned or leased by any Loan Party that are used in the Business.

  • Flowgate means a representative modeling of facilities or groups of facilities that may act as potential constraint points.

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  • Refinery means a facility used to produce motor fuel from crude oil, unfinished oils, natural gas liquids, or other hydrocarbons and from which motor fuel may be removed by pipeline, by marine vessel, or at a rack.

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  • Underground area means an underground room, such as a basement, cellar, shaft or vault, providing enough space for physical inspection of the exterior of the tank situated on or above the surface of the floor.

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  • Watercourse means a channel in which a flow of water occurs, either continuously or intermittently.

  • Ambient air means that portion of the atmosphere, external to buildings, to which the general public has access.

  • Electrostatic spray means a method of applying a spray coating in which opposite electric charges are applied to the substrate and the coating. The coating is attracted to the substrate by the electrostatic potential between them.

  • stacked bicycle parking space means a horizontal bicycle parking space that is positioned above or below another bicycle parking space and equipped with a mechanical device providing floor level access to both bicycle parking spaces.

  • Operating pressure means the pressure at which the parts of an irrigation system are designed by the manufacturer to operate.

  • Firewood means wood cut to lengths less than four feet long. This includes firewood cut for personal use.

  • Storage area means any location, facility, or vehicle which is used to store, to transport, or to secure a radiographic exposure device, a storage container, or a sealed source when it is not in use and which is locked or has a physical barrier to prevent accidental exposure, tampering with, or unauthorized removal of the device, container, or source.

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