Exploration and Development Costs definition

Exploration and Development Costs means, with respect to any Prospect or Prospects, and without duplication, all direct, capital costs actually incurred by Company Group in connection with exploration and development of such Prospect or Prospects, including, without limitation, all costs incurred in preparing for drilling, drilling, testing, completing, equipping (including, without limitation, installation of platforms, facilities and pipelines and dry hole costs) and recompleting wellx, xxl geological and geophysical costs, and all leasehold costs (including bonus, delay rentals and all other costs of acquiring and maintaining in force the leases, or portions thereof or undivided interests therein, included in such Prospects). Exploration and Development Costs shall not include lease operating expenses or general and administrative expenses of the Company Group.
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Exploration and Development Costs of the Wells means all actual third party direct costs and expenses incurred or paid with respect to the Wells, including but not limited to (a) location costs, costs of drilling, re-entering (excluding any Wells that have been previously produced under this Agreement), logging, testing, completing, fracing and equipping such Well(s) for production including flow-lines, tanks, flow meters and other equipment located on the drilling unit, (b) that portion of drilling rate overhead charges allocated to such Well(s) under the applicable JOA, and (c) costs of plugging and abandoning and surface restoration for any such well completed as a dryhole, explicitly excluding Operating Costs
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Exploration and Development Costs means the cumulative total of all deemed or actual costs, expenditures, liabilities, obligations and charges incurred by the Owner in connection with exploration work and development work (but only where such costs associated with development work are not already included as Capital Expenditures) performed on the Properties;
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Examples of Exploration and Development Costs in a sentence

  • Production Costs are expenditures of revenue nature incurred on Production Operations after the start of production from the Field (which are other than Exploration and Development Costs).

  • However, this trend has been reversed somewhat since 1990, because percentage depletion has been allowed on transferred properties (even if the new owner would not otherwise be eligible for percentage depletion benefits) and exempted from the Alternative Minimum Tax.11 In 1995, the value of this provision was approximately $335 million to $746 million.• Expensing of Oil Exploration and Development Costs.

  • Production Costs are expenditures incurred on Production Operations in respect of a Field/ Development Area after the start of production from the Field/Development Area (which are other than Exploration and Development Costs).

  • Production Costs are expenditures incurred for Production Operations after the start of production from the Field (which are other than Exploration and Development Costs).

  • NOTE: If “full cost accounting for exploration and development costs” has been specifically approved by the Commission, then unsuccessful exploration and development costs incurred on leases acquired after October 7, 1969, shall be charged to account 338, Unsuccessful Exploration and Development Costs.

  • Any person who violates this chapter, or who conspires with another to violate this chapter, shall be fined not more than$2,500 or imprisoned for not more than six months, or both.

  • Liability according to mandatory statutory regulations remains unaffected, specifically the liability clause in § 44 a TKG.

  • Since then, he has been involved with environmental management in several companies.

  • The recalculation of the depreciation or depletion and subsequent changes can have an effect on the Alternative Minimum Tax.This page intentionally left blank.Chapter 11‌Corporate Exploration and Development Costs Per IRC section 291(b), the amount allowable as a deduction for exploration expenses (IRC section 617(a)) and development expenses (IRC section 616(a)) must be reduced by 30 percent.

  • Resource Properties, Deferred Exploration and Development Costs All costs related to the exploration of mineral properties are capitalised until either the properties are brought into production, at which time they are depleted on a unit of production basis, or until the properties are sold, or title rights allowed to lapse, or are abandoned or determined not to be commercially viable, at which time they are charged to the income statement.


More Definitions of Exploration and Development Costs

Exploration and Development Costs of the Xxxxx means all actual third party direct costs and expenses incurred or paid with respect to the Xxxxx, including but not limited to (a) location costs, costs of drilling, re-entering (excluding any Xxxxx that have been previously produced under this Agreement), logging, testing, completing, fracing and equipping such Well(s) for production including flow-lines, tanks, flow meters and other equipment located on the drilling unit, (b) that portion of drilling rate overhead charges allocated to such Well(s) under the applicable JOA, and (c) costs of plugging and abandoning and surface restoration for any such well completed as a dryhole, explicitly excluding Operating Costs
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Exploration and Development Costs of the Xxxxx means all actual third party direct costs and expenses incurred or paid with respect thereto, including but not limited to (a) costs of drilling, re-entering, logging, testing, completing, and equipping
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Exploration and Development Costs means the cumulative total of all deemed or actual costs, expenditures, liabilities, obligations and charges incurred by BMR in connection with exploration work and development work performed on the Mineral Property;
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Related to Exploration and Development Costs

  • land development area means an erf or the land which is delineated in an application submitted in terms of this By-law or any other legislation governing the change in land use and “land area” has a similar meaning;

  • Research and development facility means an establishment engaged in laboratory, scientific, or experimental testing and development related to new products, new uses for existing products, or improving existing products. The term does not include an establishment engaged in efficiency surveys, management studies, consumer surveys, economic surveys, advertising, promotion, banking, or research in connection with literary, historical, or similar projects.

  • Research and development means (1) theoretical analysis, exploration, or experimentation; or (2) the extension of investigative findings and theories of a scientific or technical nature into practical application for experimental and demonstration purposes, including the experimental production and testing of models, devices, equipment, materials, and processes. Research and development does not include the internal or external administration of radiation or radioactive material to human beings.

  • Development Costs means costs incurred to obtain access to reserves and to provide facilities for extracting, treating, gathering and storing the oil and gas from reserves. More specifically, development costs, including applicable operating costs of support equipment and facilities and other costs of development activities, are costs incurred to:

  • Land development means the erection of buildings or structures on land, or the change of use of land, including township establishment, the subdivision or consolidation of land or any deviation from the land use or uses permitted in terms of an applicable land use scheme;

  • Exploration means all activities directed toward ascertaining the existence, location, quantity, quality or commercial value of deposits of Products.

  • Total Development Cost means the total of all costs incurred in the completion of a Development, all of which shall be subject to the review and approval by the Credit Underwriter and the Corporation pursuant to this rule chapter, and as further described in Rule 67-48.0075, F.A.C.

  • Development Cost means the total of all costs incurred in the completion of a Development excluding Developer Fee, operating deficit reserves, and total land cost as typically shown in the Development Cost line item on the development cost pro forma.

  • land development application means the application for a land development permit on a form provided by [local jurisdiction] along with the supporting documentation required in Section [Y]-10(a).

  • Exploration Operations means operations conducted in the Contract Area pursuant to this Contract in searching for Petroleum and in the course of an Appraisal Programme and shall include but not be limited to aerial, geological, geophysical, geochemical, palaeontological, palynological, topographical and seismic surveys, analysis, studies and their interpretation, investigations relating to the subsurface geology including structural test drilling, stratigraphic test drilling, drilling of Exploration Xxxxx and Appraisal Xxxxx and other related activities such as surveying, drill site preparation and all work necessarily connected therewith that is conducted in connection with Petroleum exploration.

  • Development Expenses means, with respect to SAIL Developments as well as HOME Developments when the HOME Development is also at least partially financed with a MMRB Loan (as defined in rule Chapter 67-21, F.A.C.), usual and customary operating and financial costs, such as the compliance monitoring fee, the financial monitoring fee, replacement reserves, the servicing fee and the debt service reserves. As it relates to SAIL Developments as well as HOME Developments when the HOME Development is also at least partially financed with a MMRB Loan (as defined in rule Chapter 67-21, F.A.C.) and to the application of Development Cash Flow described in subsections 67-48.010(5) and (6), F.A.C., as it relates to SAIL Developments or in paragraph 67-48.020(3)(b), F.A.C., as it relates to HOME Developments, the term includes only those expenses disclosed in the operating pro forma on an annual basis included in the final credit underwriting report, as approved by the Board, and maximum of 20 percent Developer Fee per year.

  • spatial development framework means the Kouga Municipal Spatial Development Framework prepared and adopted in terms of sections 20 and 21 of the Act and Chapter 2 of this By-Law;

  • Commercial Development means any development on private land that is not heavy industrial or residential. The category includes, but is not limited to: hospitals, laboratories and other medical facilities, educational institutions, recreational facilities, plant nurseries, car wash facilities, mini-malls and other business complexes, shopping malls, hotels, office buildings, public warehouses and other light industrial complexes.

  • Planned development means a real property development other than a community apartment project, a condominium project, or a stock cooperative, having either or both of the following features:

  • Economic development project means land and existing or planned improvements suitable for use by an industrial or commercial enterprise, or housing development, or the protection of the environment, including, but not limited to, groundwater or surface water. Economic development project includes necessary buildings, improvements, or structures suitable for and intended for or incidental to use as an industrial or commercial enterprise or housing development; and includes industrial park or industrial site improvements and port improvements or housing development incidental to an industrial or commercial enterprise; and includes the machinery, furnishings, and equipment necessary, suitable, intended for, or incidental to a commercial, industrial, or residential use in connection with the buildings or structures.

  • Commercial Development Plan means the written commercialization plan attached as Appendix E.

  • Transit-oriented development means infrastructure improvements that are located within 1/2 mile of a transit station or transit-oriented facility that promotes transit ridership or passenger rail use as determined by the board and approved by the municipality in which it is located.

  • experimental development means acquiring, combining, shaping and using existing scientific, technological, business and other relevant knowledge and skills with the aim of developing new or improved products, processes or services. This may also include, for example, activities aiming at the conceptual definition, planning and documentation of new products, processes or services;

  • Development Area means that area to which a development plan is applicable.

  • Cluster development means a contiguous cluster or

  • municipal spatial development framework means a municipal spatial development framework adopted by the Municipality in terms of Chapter 5 of the Municipal Systems Act;

  • Infill development means new construction on a vacant commercial lot currently held as open space.

  • Economic development means all powers expressly granted and reasonably inferred pursuant to SDCL § 9-54.

  • exploration area means that part of the Area allocated to the Contractor for exploration, described in schedule 1 hereto, as the same may be reduced from time to time in accordance with this contract and the Regulations;

  • Redevelopment Area means the community redevelopment area described, defined or otherwise identified or referred to in the Redevelopment Plan.

  • Existing development means development, other than that associated with agricultural or forest management activities, that meets one of the following criteria: