Workover Expenses definition
Workover Expenses means any expenses relating to workovers, “re-works” or other remedial treatments in respect of producing oil & gas ▇▇▇▇▇.
Workover Expenses means expenses related to Workover Operations.
Workover Expenses means expenses related to Workover Operations; “Workover Operations” means operations on a producing or non-producing well for the purpose of stimulating or restoring Production in the same or existing producing horizon or for the purpose of restoring or increasing Production, in each case without an intended increase in the proved developed producing component of Proved and Probable Reserves, including the repair of sucker rods, tubing, casing and leaks, as well as cleaning out sand-filled perforations, and acidizing; provided that it shall not include any Workover Drilling; “Workover Drilling” means operations on a producing or non-producing well related to the operation that results in the deepening (vertically or horizontally) of a well or plugging back to a shallower horizon for the purpose of accessing proved undeveloped reserves or increasing the proved developed producing component of Proved and Probable Reserves and shall include the intended initiation, restoration or increase of Production and an intended increase in the proved developed producing component of Proved and Probable Reserves; provided that it shall not include any Workover Operations; “Drilling” means the search for Oil and Gas in their natural states and original locations that may include, but not be limited to, drilling, completion, reentry, sidetracking, horizontal laterals, recompletions, fracing, Workover Drilling, secondary recovery, tertiary recovery and any other method; “Plugging and Abandonment Expenses” means the expense and capitalized cost to plug and abandon a well as required by the appropriate regulatory authorities as a result of the well being (i) completed as a nonproductive well; (ii) ceasing to produce oil or gas; (iii) operated for the purpose for which the well is no longer permitted; or (iv) in violation of an environmental law, rule or regulation.
Examples of Workover Expenses in a sentence
Workover Expenses (column 25) were applied to cover the annual costs for recurring well work and wellbore abandonment.
More Definitions of Workover Expenses
Workover Expenses means any expenses relating to workovers, "re-works” or other remedial treatments in respect of producing oil & gas we ls.