Common use of Agreement To Drill and Complete Clause in Contracts

Agreement To Drill and Complete. PDC shall commence drilling of a well or xxxxx on each Prospect within 180 days of the date of the initial formation of the Partnerships, but in no case later than March 30, 1997 with respect to the partnerships designated "PDC 1996- Limited Partnership" and March 30, 1998 with respect to the partnerships designated "PDC 1997- Limited Partnership" and shall continue drilling thereafter with due diligence to the Target formation unless a condition which renders further drilling impractical is encountered at a lesser depth, or unless the Partnership agrees to complete or abandon the well at a lesser depth. PDC shall make reasonable tests of all formations encountered during drilling which give indication of containing economic quantities of oil and/or gas. If such tests indicate the presence of economic quantities of oil and/or gas, PDC shall complete the well and install such surface and well equipment, gathering pipelines, heaters, separators, etc., as are necessary and normal in the area in which the Prospect is located. If it is determined that the well is not likely to produce oil and/or gas in commercial quantities PDC shall plug and abandon the well in accordance with applicable regulations.

Agreement To Drill and Complete. PDC shall commence drilling of a well or xxxxx on each Prospect within 180 days of the date of the initial formation of the Partnerships, but in no case later than March 30, 1997 with respect to the partnerships 2005 [2006 for PDC 2005-designated "Partnerships and 2007 for PDC 1996- Limited Partnership" and March 30, 1998 with respect to the partnerships 2006-designated "PDC 1997- Limited Partnership" Partnerships] and shall continue drilling thereafter with due diligence to the Target formation unless a condition which renders further drilling impractical is encountered at a lesser depth, or unless the Partnership agrees to complete or abandon the well at a lesser depth. PDC shall make reasonable tests of all formations encountered during drilling which give indication of containing economic quantities of oil and/or gas. If such tests indicate the presence of economic quantities of oil and/or gas, PDC shall complete the well and install such surface and well equipment, gathering pipelines, heaters, separators, etc., as are necessary and normal in the area in which the Prospect is located. If it is determined that the well is not likely to produce oil and/or gas in commercial quantities PDC shall plug and abandon the well in accordance with applicable regulations.

Agreement To Drill and Complete. PDC shall commence drilling of a well or xxxxx on each Prospect within 180 days of the date of the initial formation of the Partnerships, but in no case later than March 30, 1997 1999 with respect to the partnerships designated "PDC 1996- 1998- Limited Partnership" and "; March 30, 1998 2000 with respect to the partnerships designated "PDC 1997- 1999- Limited Partnership"and March 30, 2001 with respect to the partnerships designated "PDC 2000 Limited Partnership" and shall continue drilling thereafter with due diligence to the Target formation unless a condition which renders further drilling impractical is encountered at a lesser depth, or unless the Partnership agrees to complete or abandon the well at a lesser depth. PDC shall make reasonable tests of all formations encountered during drilling which give indication of containing economic quantities of oil and/or gas. If such tests indicate the presence of economic quantities of oil and/or gas, PDC shall complete the well and install such surface and well equipment, gathering pipelines, heaters, separators, etc., as are necessary and normal in the area in which the Prospect is located. If it is determined that the well is not likely to produce oil and/or gas in commercial quantities PDC shall plug and abandon the well in accordance with applicable regulations.