Initial Xxxxx definition

Initial Xxxxx means the xxxxx of Shipper identified on Exhibit A-2 attached hereto.

Initial Xxxxx means the first exploration well drilled by the parties to the Operating Agreements (as defined in Paragraph 8 below) on the structural play shown on Exhibit A attached to this letter agreement (the "Structural Play") with a stated objective that includes the Winulta formation and the first exploration well drilled by the parties to the Operating Agreements on the reef play shown on Exhibit A attached to this letter agreement (the "Reef Play") with a stated objective that includes the Parara/Koolywurtie formation. The "Drilling Costs" of an Initial Well for purposes of this letter agreement shall include (i) all costs of drilling and open-hole testing the well (including all costs of drilling and testing any sidetrack or substitute well, should the initial wellbore fail to reach its objective depth), (ii) if no production casing is set or production tests are not run, all costs incurred through plugging and abandoning the well, and (iii) all overhead charges applicable to the preceding costs under the Operating Agreements. The "Completion Costs" of an Initial Well for purposes of this letter agreement shall include (i) all costs of setting and perforating production casing or setting a liner in the Initial Well, (ii) all costs of production or pressure tests, and (iii) all overhead charges applicable to the preceding costs under the Operating Agreements. Drilling Costs and Completion Costs shall include costs incurred both prior to and after the date of this letter agreement but shall not include any costs attributable to operations carried out prior to March 17, 1997, costs of rig mobilization and demobilization to and from the drillsite License or any costs beyond the wellhead(s), including, but not limited to, the costs of platform(s) and the costs of any equipment or facilities for processing, handling, separating, dehydrating, treating, compressing, gathering or transporting production from the License(s). Notwithstanding the foregoing, should the total Drilling Costs of either Initial Well exceed U.S. $4,819,787.00 or should the total Completion Costs of either Initial Well exceed U.S. $2,213,305.00, Farmee shall be obligated to pay only a five percent (5%) share of those Drilling Costs or Completion Costs of such Initial Well, as applicable, which are in excess of such amount, and such cost limitation shall not affect the interest earned by Xxxxxx under the terms of this letter agreement. The dollar figures set forth in the preceding sentence for ea...

Initial Xxxxx has the meaning set forth in Section 1.3 of this Agreement.

Examples of Initial Xxxxx in a sentence

• Initial Xxxxx Lake Xxxxxx reserves the right to remove any Boat, PWC, or RV from BLM slips or RV sites if conditions of the unit are unsafe or a detriment to the environment.

• Xxxxx may expand the Initial Xxxxx Preserve Area prior to granting the Xxxxx Conservation Easement and thereby reduce the area of the Subsequent Preserve Area.

• Initial Xxxxx shall be subject to the gathering fees set forth in Section 6.1(a) and the terms of Article VI.

• For clarity, it is understood that the Producer Entity Interests in the Dedicated Area are included in this dedication, as more fully set forth in Section 1.6. With respect to Other Interests and any third party interests in the Initial Xxxxx, Gatherer agrees not to separately contract with the Other Interests or third party interests for gathering their proportionate share of Gas from the Initial Xxxxx, such that Producer is entitled to 100% of the System throughput capacity for the Initial Xxxxx.