Cash Settlements. 7.1 Upon the earlier of the plugging and abandonment of the last producing interval in the Balancing Area, the termination of the Operating Agreement or any pooling or unit agreement covering the Balancing Area, or at any time no Gas is taken from the Balancing Area for a period of twelve (12) consecutive months, any Party may give written notice calling for cash settlement of the Gas production imbalances among the Parties. Such notice shall be given to all Parties in the Balancing Area.
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Samples: Operating Agreement (American Liberty Petroleum Corp.), Operating Agreement (American Liberty Petroleum Corp.), Joint Development Agreement (Independence Energy Corp.)
Cash Settlements. 7.1 7.1. Upon the earlier of the plugging and abandonment of the last of/producing interval in the Balancing Area, the termination of the Operating Agreement or any pooling or unit agreement covering the Balancing Area, or at any time no Gas is taken from the Balancing Area for a period of twelve (12) consecutive months, any Party may give written notice calling for cash settlement of the Gas production imbalances among the Parties. Such notice shall be given to all Parties in the Balancing Area.
Appears in 1 contract
Cash Settlements. any 7.1 Upon the earlier of the plugging and abandonment of the last / producing interval in the Balancing Area, the termination of the Operating Agreement or any pooling or unit agreement covering the Balancing Area, or at any time no Gas is taken from the Balancing Area for a period of twelve (12) consecutive months, any Party may give written notice calling for cash settlement of the Gas production imbalances among the Parties. Such notice shall be given to all Parties in the Balancing Area.
Appears in 1 contract
Samples: Gas Balancing Agreement (Ness Energy International Inc /Nv/)
