Deepening or Sidetracking Cost Adjustments Sample Clauses

Deepening or Sidetracking Cost Adjustments. If a proposal is made to Deepen or Sidetrack a Non-consent Well, a well cost adjustment will be performed as follows:
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Deepening or Sidetracking Cost Adjustments. If a proposal is made to Deepen or Sidetrack a Non-consent Well, a well cost adjustment will be performed as follows: Intangible drilling will be valued at the actual cost incurred by the Participating Parties. Tangible materials will be valued in accordance with the provisions of Exhibit “C”. For Sidetracking operations, the values determined in Articles 13.4(a) and 13.4(b) shall be reduced by the amount allocated to that portion of the well from the surface to one hundred feet (100’) below the point at which the Sidetracking was initiated. Such allocations shall be consistent with the guidelines recommended by the applicable Council of Petroleum Accountants Societies (“XXXXX”) Guideline, as amended from time to time. Amortization/depreciation shall be applied to both intangible and tangible values at the rate of _______ percent (_____%) per annum from the date the well commenced Hydrocarbon production to the date operations commence to Deepen or Sidetrack the well, provided, however, the value of tangible materials after applying depreciation shall never be less than __________ percent (_____%) of the value determined in Article 13.4(b).
Sample 1
Deepening or Sidetracking Cost Adjustments. 43 13.5 SUBSEQUENT OPERATIONS IN NON-CONSENT WELL ....................................................44 13.6 OPERATIONS IN A PRODUCTION INTERVAL ..........................................................44 13.7 OPERATIONS UTILIZING A NON-CONSENT PLATFORM AND/OR DEVELOPMENT FACILITIES ....................44 13.8 DISCOVERY OR EXTENSION FROM NON-CONSENT DRILLING .............................................45 13.9 ALLOCATION OF PLATFORM/DEVELOPMENT FACILITIES COSTS TO NON-CONSENT OPERATIONS ................45 13.9.1
Sample 1
Deepening or Sidetracking Cost Adjustments. 46 13.5 SUBSEQUENT OPERATIONS IN NON-CONSENT WELL ............................47 13.6 OPERATIONS IN A PRODUCTION INTERVAL ..................................47 13.7 OPERATIONS UTILIZING A NON-CONSENT PLATFORM AND/OR DEVELOPMENT FACILITIES ...........................................................47 13.7.1 Forfeiture of Initial Platform or Development Facilities .......48 13.8 DISCOVERY OR EXTENSION FROM NON-CONSENT DRILLING .....................48 13.9 ALLOCATION OF PLATFORM/DEVELOPMENT FACILITIES COSTS TO NON-CONSENT OPERATIONS ...........................................................48 13.9.1 Charges ........................................................48 13.9.2 Operating and Maintenance Charges ..............................50 13.10 ALLOCATION OF COSTS BETWEEN ZONES ....................................50 13.11
Sample 1

Related to Deepening or Sidetracking Cost Adjustments

  • Audit Adjustment If any audit of the records, books or accounts relating to the Properties discloses an overpayment or underpayment of Management Fees, Owner or Manager shall promptly pay to the other party the amount of such overpayment or underpayment, as the case may be. If such audit discloses an overpayment of Management Fees for any fiscal year of more than the correct Management Fees for such fiscal year, Manager shall bear the cost of such audit.

  • Direct Expenses 1. Fees and expenses of its directors (including the fees of those directors who are deemed to be "interested persons" of the Fund as that term is defined in the Investment Company Act of 1940) and the meetings thereof;

  • Purchase Price Credit Adjustments If on any day:

  • Subsequent Adjustments In the event that the Assuming Institution or the Receiver discovers any errors or omissions as contemplated by Section 8.2 or any error with respect to the payment made under Section 8.3 after the Settlement Date, the Assuming Institution and the Receiver agree to promptly correct any such errors or omissions, make any payments and effect any transfers or assumptions as may be necessary to reflect any such correction plus interest as provided in Section 8.4.

  • Base Year The period beginning on 1 April of one year and ending on 31 March of the following year.

  • True-Up Adjustments From time to time, until the Retirement of the Recovery Bonds, the Servicer shall identify the need for True-Up Adjustments and shall take all reasonable action to obtain and implement such True-Up Adjustments, all in accordance with the following:

  • Royalty Adjustments The following adjustments will be made, on a Product-by-Product and country-by-country basis, to the royalties payable pursuant to Section 3.5.1:

  • Year-End Adjustment If necessary, on or before the last day of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the amount of the investment advisory fees waived or reduced and other payments remitted by the Adviser to the Fund or Funds with respect to the previous fiscal year shall equal the Excess Amount.

  • Successive Adjustments After an adjustment to the Conversion Rate under this Article 11, any subsequent event requiring an adjustment under this Article 11 shall cause an adjustment to the Conversion Rate as so adjusted.

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