Earning Well definition

Earning Well means the Test Well and the Option Well(s), as the case may be;

Earning Well means a well drilled, completed or abandoned pursuant to Clauses 12(b) or 13(b) as the context requires and where such well is drilled pursuant to a Farmin Agreement or and Additional Farmin Agreement and where such well earns from a third party an interest in Petroleum and Natural Gas Rights;

Earning Well means the well to be drilled at 14 of 9-38-9-W5M.

Examples of Earning Well in a sentence

• In the event Buyer completes an Earning Well on a Lease as a commercial producer of oil and/or gas, the Secondary Term Assignment shall be limited to the wellbore of such Earning Well.

• Olympia shall give immediate notice to Participant when the Earning Well has reached contract depth and the logs and tests preliminary to casing have been run.

• 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.

• Nation shall give immediate notice to Participant when the Earning Well has reached contract depth and the logs and tests preliminary to casing have been run.

• To the best of its Knowledge, the Assets and Vendor's Carried Interest on the unit to be formed for Earning Well will comprise at least 89.44% of the Earning Well unit ownership.

More Definitions of Earning Well

Earning Well means the new well designated and described in, and to be drilled under, the Farmout Agreement;

Earning Well means the well to be drilled at 14 of 9-38-9-W5M. “Farmin Interest” means two percent (2.000%) Farmin cost interest Farmee has agreed to pay with respect to the drilling of the Earning Well. “Farmout Lands” means the lands and leases more particularly described in Schedule “A” attached hereto.

Earning Well means a Well which FARMEE has determined to be capable of producing hydrocarbons in commercial quantities.

Earning Well means one of the 15 xxxxx which K2 is obligated to drill pursuant to paragraph 6 of the Blackfeet-K2 EDA.

Earning Well means a well drilled in accordance with the provisions of Article 5 hereof that is (i) a well in which McMoRan participates in the drilling of, and (ii) which is drilled to the Objective Depth, and (iii) which is a well that satisfies the criteria of to 30 CFR 250.111 as a well capable of producing in paying quantities, and (iv) McMoRan, within sixty (60) days from rig release of the Initial Test Well, commits in writing to Texaco its plans to install the necessary facilities (not including Existing Facilities unless the owners thereof agree) as soon as possible to place the hydrocarbons discovered on production, and (v) which well is located at a bottom hole location on a Lease subject hereto or in a Unit including all or a portion of a Lease.

Earning Well means any well drilled under the terms and conditions of this Agreement by which Farmee is entitled to receive an assignment.

Earning Well means any Commitment Well or Option Well drilled pursuant to this Agreement;