Well Completion moment of completion of the activities directly related to drilling of a well (including, when applicable, logging, lining, and cementing) when its final depth is reached, after which all Operations exclusively refer to disassembly, decommissioning, or operation of the unit. For the cases in which the assessment and/or completion is started within sixty (60) days after the end of the activities directly related to drilling of the well or its temporary abandonment, the moment in which disassembly, decommissioning, or operation of the unit used for the assessment and/or completion is started shall be taken into account.
Well Completion beginning of demobilization of the drilling rig, after Drilling Completion and Well Assessment.
Well Completion. Notwithstanding anything contained herein or in any documents executed in connection herewith, it is the intent of Seller and Buyer that within the three year period following the Closing, Buyer shall (a) conduct and pay for all seismic work necessary to evaluate, in Buyer’s absolute discretion, the optimal drilling locations for the development of oil and gas on the Cxxxxx Lease and the Cxxx Lease with Dxxxxx Seismic, Midland, Texas, or another seismic company mutually agreeable to the Parties; (ii) drill and complete (1) at least four (4) wxxxx carried to the pipeline described below and (2) at least four (4) wxxxx carried to the casing point (collectively, the “Exxxxxxxxxx Wxxxx”) on the portion of the Land subject to the Cxxxxx Lease penetrating to the Exxxxxxxxxx Group or stratigraphic equivalent to the Exxxxxxxxxx interval as defined in the Conoco Wxxxx Xxxxxx No. 1 (API#40-000-00000; sec. 10 of the E. JH. Hxxxxx Survey, Val Verde County, Texas), the top of the Exxxxxxxxxx interval being defined as 14,003 measured depth and the Parties agree that the maximum depth shall be 16,000 feet, and (iii) with respect to the wxxxx carried to the pipeline, construct all pipelines and related equipment and facilities necessary to connect such wxxxx to the Cross Tex Processing Plant (collectively, the “Required Post-Closing Work”). Buyer shall drill the Exxxxxxxxxx Wxxxx that will be carried to the pipelines before the Exxxxxxxxxx Wxxxx that will be carried to the casing point, and all Exxxxxxxxxx Wxxxx shall be drilled with air and not mud, unless the Parties mutually agree that drilling with mud is not feasible. Buyer further agrees to consult with Wxxxxxx X. Xxxxxx to the extent he is agreeable to do so with regard to the location of the Exxxxxxxxxx Wxxxx and all shallower wxxxx drilled before the Exxxxxxxxxx Wxxxx are completed. The Parties agree that, while Buyer values Mx. Xxxxxx’ consultation and believes that it will instructive, the Buyer has no obligation to accept his recommendations or advice. The Parties agree to enter into a mutually agreeable Joint Operating Agreement appointing Buyer or its designee as operator (the “Joint Operating Agreement”) with regard to the operation of the Leases. Buyer shall pay 100% of the cost of the Required Post-Closing Work and shall have a 75% Net Revenue Interest in such wxxxx which shall be split 87% to Buyer and 13% to Seller. Buyer acknowledges that the initiation and completion of the Post-Closing Work is a mate...
Well Completion moment of completion of activities directly related to the drilling of a well (including, when applicable, logging, coating and cementing) that had the final depth reached, from which all Operations refer exclusively to the disassembly, demobilization or movement of the unit. For cases in which the Well Evaluation and/or completion is started within 60 (sixty) days after the end of the activities directly related to the drilling of the well or its temporary abandonment, the moment when the disassembly, demobilization or handling of the unit used to carry out the Well Evaluation and/or completion will be considered.
Well Completion. To the knowledge of the Vendors, all wxxxx located on any lands in which any Purchased Corporation has an interest, or lands with which such lands have been pooled or unitized have been drilled and, as applicable, completed, produced, capped or abandoned in all material respects in accordance with good and prudent oil and gas industry practices in the applicable jurisdictions where such wxxxx or lands are located, the Contracts granting the rights therein to any Purchased Corporation and all applicable statutes and regulations. All wxxxx located on any lands in which any Purchased Corporation has an interest, or lands with which such lands have been pooled or unitized, that are operated by any Purchased Corporation have been drilled and, as applicable, completed, produced, capped or abandoned in all material respects in accordance with good and prudent oil and gas industry practices in the applicable jurisdictions where such wxxxx or lands are located, the Contracts granting the rights therein to any Purchased Corporation and all applicable statutes and regulations.
Well Completion. If Solaris, in its sole discretion, determines that any Well is capable of producing oil, gas and/or any other related product in commercial quantities, Solaris agrees to run such production string as Solaris deems as adequate, and attempt to complete each Well. If such completion is successful, Solaris shall equip each Well for production through and including such tanks, separator and other equipment necessary to complete the Well. The Well Completion Date shall be the date of completion of the Well as filed and recorded with the Colorado Oil and Gas Conservation Commission.
Well Completion
