Costs and Expenses of Development Xxxxx. All costs and expenses associated with or paid or incurred in connection with the spudding, drilling, testing, completing, equipping and connecting for production, operating and/or plugging and abandoning of the Development Xxxxx shall be borne solely by Chesapeake (as between the Parties) but Chesapeake may use any Subject Minerals in such operations without any duty to account to the Trustee or the Trust; provided that Chesapeake’s use of such Subject Minerals shall be in accordance with the Reasonably Prudent Operator Standard.
Appears in 4 contracts
Samples: Development Agreement, Development Agreement (Chesapeake Granite Wash Trust), Development Agreement (Chesapeake Granite Wash Trust)