Common use of Accounting for Non-participation Clause in Contracts

Accounting for Non-participation. If after one (1) year from completion of a well operation conducted as a Lease Maintenance Operation, the Lease or portion thereof is being perpetuated by a Lease Maintenance Operation, as provided in Article 13.11.1 (Participation in Lease Maintenance Operations), Operator shall render a final statement, if applicable, to the assigning Party for its share of all expenses attributed to the assigned interest before the effective date of the assignment, plus any credit or deficiency in salvage value calculated under Article 15.3.1

Accounting for Non-participation. If after one (1) year from completion of a well operation conducted as a Lease Contract Area Maintenance Operation, the Lease Contract Area or portion thereof is being perpetuated by a Lease Contract Area Maintenance Operation, as provided in Article 13.11.1 (Participation in Lease Contract Area Maintenance Operations), Operator shall render a final statement, if applicable, to the assigning Party for its share of all expenses attributed to the assigned interest before the effective date of the assignment, plus any credit or deficiency in salvage value calculated under Article 15.3.1