Examples of Proved Properties in a sentence
The parties hereby waive and release all rights of partition, or of sale in lieu thereof, or other division of such Prospects and Proved Properties, including any such rights provided by Law.
The parties' ownership of any Prospects and Proved Properties shall be as tenants in common, subject to the applicable agreements including the application Operating Agreement.
Effective December 31, 2005 Proved Properties for Disclosure to the Securities and Exchange Commission and Probable Properties Utilizing Nonescalated Economics Williamson Project 5.9108” dated January 23, 2006 which are part of the Registration Statement.
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This Agreement shall not entitle SUIT to participate in any Prospects or Proved Properties obtained by Contango by means of (i) any acquisition of equity interests in entities owning Prospects, Proved Properties or Acquisition Agreements or rights to acquire Prospects, Proved Prospects or Acquisition Agreements, (ii) any merger or (iii) any business combination.
Each acquisition by SUIT of an undivided interest in Prospects and Proved Properties will be subject to the same Encumbrances which burden such Prospects and Proved Properties when they are acquired by Contango, but Contango shall not add, or allow to be added, any further Encumbrances to such Prospects and Properties to SUIT's undivided interest therein.
Except as provided to the contrary in Sections 4.3.2 and 4.4, nothing in this Agreement is intended to mean that Contango must pursue development of Prospects or Proved Properties which it believes are no longer economically viable.
Acquisition of Proved Properties The Company has enjoyed some recent success in the acquisition of producing oil and gas properties.
EOG's net changes in capitalized exploratory well costs for the nine-month period ended September 30, 2020, are presented below (in thousands):Nine Months Ended September 30, 2020Balance at January 1$25,897Additions Pending the Determination of Proved Reserves 86,624Reclassifications to Proved Properties (34,087)Costs Charged to Expense (1) (23,872)Balance at September 30$54,562 (1) Includes capitalized exploratory well costs charged to either dry hole costs or impairments.
Cost Incurred ($ millions)United StatesProperty Acquisition Costs Proved Properties Unproved Properties/Wells 6.7 Exploration and Development Activities The Company’s drilling activity and results for the year ended December 31, 2016, are summarized in the following table.