Abandonment of Wells. No well subject to and the basis of this Agreement which xxx been completed as a producer shall be plugged and abandoned without the consent of all parties provided, however, if all parties do not agree to the abandonment of any well, those wishing to continue its operation shall tender to each of the other parties its proportionate share of the value of the well's salvageable material and equipment, determined in accordance with the provisions of Exhibit Two less the estimated cost of salvaging and the estimated cost of plugging and abandoning. Each abandoning party shall then assign to the non-abandoning parties without warranty, express or implied, as to title or as to quantity, quality, or fitness for use of the equipment, together with its interest in the leasehold estate as to, but only as to, the interval or intervals of the formation or formations then open to production. The assignments so limited shall encompass the "drilling unit" upon which that well is located. The payments by, and the assignments to, the assignees shall be made in accordance with their respective percentages of participation in the Unit Area of all assignees. There shall be no readjustment of interest in the remaining portion of the Unit Area. After the assignment, the assignors shall have no further responsibility, liability, or interest in the operation of or production from that well in the interval or intervals then open. Upon request of the assignees, Operator shall continue to operate the assigned well for the account of the non-abandoning parties at the rates and charges contemplated by this Agreement, plus any additional cost and charges which may arise as the result of the separate ownership of the assigned well.
Abandonment of Wells. 76 10.1 Abxxxxxment of Wells Drilled as Joint Operations .............................. 76 10.2
Abandonment of Wells. DRILLED AS JOINT OPERATIONS
Abandonment of Wells. The Vendor has not agreed to abandon any Wells whixx xx the Closing Date were not abandoned at a cxxx xor which the Vendor is or the Purchaser may be liable in association with the abandonment of such Well;
Abandonment of Wells. 18.2 Fxxxxxties and Platform Salvage and Removal Costs: . . . . . . . . 18.3
Abandonment of Wells. Any Participating Party may propose the abxxxxxment of a well which has been drilled hereunder by notifying the other Participating Parties. No well shall be abandoned without the unanimous consent of the Participating Parties therein. Any Party may propose the abandonment of such well by notifying the Participating Parties in writing. The Participating Parties not consenting to such abandonment shall pay the Parties desiring to abandon their proportionate share of the value of the well s salvageable material and equipment as determined pursuant to Exhibit C (Accounting Procedure), less the current estimated costs (as determined by the Parties) of salvaging same and of plugging and abandoning the well. Each Party desiring to abandon a well shall assign to the non- abandoning Parties, in proportion to their Participating Interest, its interest in such well and the equipment therein and its ownership in the production from such well. Such assignment shall be without warranty and free of any overriding royalties (except for overriding royalty burdens listed on Exhibit "A" hereof) or any other burdens or encumbrances. Any Party so assigning shall be relieved from any further liability with respect to the well; provided, however, such Party shall remain fully responsible for all of its obligations incurred prior to the time of the assignment provided for herein.
Abandonment of Wells. No well shall be plugxxx xnd abandoned by --------------------- Mesa without mutual consent. The cost and expense of such operation shall be considered an Allowable Cost for purposes of the accounting procedure attached hereto as Exhibit "C" and included in computation of the Operations and Maintenance Fee.
Abandonment of Wells. Any well, which has been drilled xxxxx the terms of this Agreement and is proposed to be completed as a dry hole shall not be plugged and abandoned without the written consent of both parties hereto. Should Operator, after diligent effort, be unable to contact any party, or should any party fail to reply within thirty (30) days after receipt of notice of the proposal to plug and abandon such well, such party shall be deemed to have consented to the proposed abandonment. If either the Hesed or the Operator desire to plug and abandon a well and the other party wishes to continue operations, such party will purchase the other party's interest in the well by paying the other party its share of the net salvage value for such well. All such wells shall be plugged and abandoned in xxxxxdance with applicable regulations and at the cost, risk and expense of the parties who participated in the cost of drilling of such well.
Abandonment of Wells. (a) Until the termination of the Production Pxxxxxt, Grantor shall not, without first obtaining the written consent of Grantee, abandon any Subject Well heretofore or hereafter completed for production of Hydrocarbons on any of the lands and waterbottoms covered by or -5- attributable to the Subject Interests or surrender, abandon or release any Lease or Subject Interest or any part thereof, provided, however, that, without the consent of Grantee:
Abandonment of Wells
