Working Interest Share definition
Examples of Working Interest Share in a sentence
To be effective, any Title Defect notice must (i) be in writing, (ii) be received by Seller prior to the expiration of the Examination Period, (iii) describe the Title Defect in reasonable detail (including any alleged variance in the Net Revenue Interest, Working Interest or Working Interest Share), (iv) identify the specific Asset or Assets affected by such Title Defect and (v) include the value of such Title Defect as determined by Purchaser.
To be effective, such Title Benefit notice must (i) be in writing, (ii) be received by Purchaser prior to the expiration of the Examination Period, (iii) describe the Title Benefit in reasonable detail (including any alleged variance in the Net Revenue Interest, Working Interest or Working Interest Share), (iv) identify the specific Asset or Assets affected by such Title Benefit and (v) include the value of such Title Benefit as determined by Seller.
For purposes of this Agreement, the term “Title Benefit” shall mean: (i) the Seller’s Net Revenue Interest in any Lease, Subject Interest, Well or Unit that is greater than or in addition to the Net Revenue Interest set forth in Exhibit B, or (ii) the Seller’s Working Interest Share in any Lease, Subject Interest, Well or Unit that is less than the Working Interest Share set forth in Exhibit B (without a corresponding decrease in the Net Revenue Interest).
For the avoidance of doubt, NEGP shall pay its share of costs associated with the NEGP Working Interest Share in each Carry Well in accordance with the Joint Operating Agreement.
For the avoidance of doubt, USG shall pay its share of costs associated with the USG Working Interest Share in each Carry Well in accordance with the applicable Joint Operating Agreement.
In such event, EPM shall only pay PED for the portion of the Existing Leases within said Subsequent Development Block that are not subject to the identified title defect(s), and EPM’s Working Interest Share in such Subsequent Development Block shall be reduced accordingly.
On or before the 30th day after the Additional Acreage Notice is delivered to Participant, Participant will have the option to acquire all, but not less than all, of its Fully Earned Working Interest Share of all, but not less than all, of the Additional Acreage by providing written notice of such election to Gastar.
Contemporaneously with the execution of this Agreement, NFR shall pay to GASCO the cash sum of $750,000 and in consideration thereof, NFR shall receive a credit of an amount equal to its Working Interest Share times $2.00 per barrel against the fee that is charged for the disposal of water produced from the Program W▇▇▇▇ into such evaporation pits.
After preparation of a design for the Recompletion, Rework or Plugging Back of a Program Well to be Recompleted, Reworked and/or Plugged Back, GASCO shall furnish to NFR an AFE for the Recompletion, Reworking or Plugging Back Costs of such Program Well and a Cash Call in the amount of NFR’s Working Interest Share of such AFE.
The Parties will have the opportunity to participate, with up to their proportionate Working Interest Share, in any infrastructure project proposed by PED or EPM that is constructed on the Project Area, or on lands located within 5 miles from the boundary of the Project Area, for which the primary purpose of the project is for the development of the Project Area (hereinafter an “Infrastructure Project”).