DRILLING AND DEVELOPMENT. A. 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, 2004 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.
DRILLING AND DEVELOPMENT. A. 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, 2005 [2006 for PDC 2005-designated Partnerships and 2007 for PDC 2006-designated 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.
DRILLING AND DEVELOPMENT. A. Procedures for Drilling Xxxxx in the AMI:
1. During the Term of the Participation Agreement. So long as the Participation Agreement is in effect all xxxxx are to be drilled pursuant to the terms of the Participation Agreement which is attached hereto as Exhibit “B”.
DRILLING AND DEVELOPMENT. A. Initial Well:
DRILLING AND DEVELOPMENT. A. 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, 2002 with respect to the partnerships designated “PDC 2001- Limited Partnership; March 30, 2003 with respect to the partnerships designated "PDC 2002- Limited Partnership" and March 30, 2004 with respect to partnerships designated “PDC 2003 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.
DRILLING AND DEVELOPMENT. The Company and the Lender agree to continue to engage in drilling and development efforts pursuant to the Operating Agreement, including the drilling and development of the App Energy H-33 well and the next unnamed well to be drilled thereafter (such two xxxxx, the “Planned Xxxxx”). With respect to the Planned Xxxxx, notwithstanding anything to the contrary set forth in the Operating Agreement or any other agreement between the Company and the Lender, the Company agrees to fund on the Lender’s behalf one-half of the Lender’s costs to participate in the Planned Xxxxx (such one-half of the Lender’s costs, the “Carry”). The Lender agrees that as part of drilling the App Energy H-33, certain operations have been or will be conducted that are outside the scope of typical drilling and completion operations. The Parties agree that these operations are being conducted to benefit the Parties in the future development of the leasehold. Specifically, these operations include the drilling and logging of the vertical portion of the Xxxxxx H-34 and the coring, core analysis, and other mutually agreed to reporting of the App Energy H-33. The Parties agree that some of the costs involved in these operations are not included in the Carry and, therefore the Lender agrees to pay its full share (i.e., 25%) of any costs that are incurred in 1) operations related to coring and analyzing the Berea formation; and, 2) operations involving the drilling and logging the vertical well referred to as the Xxxxxx H-34.
DRILLING AND DEVELOPMENT. (a) FULL DEVELOPMENT: After a well capable of producing oil or gas has been completed on the Premises, Lessee shall exercise the diligence of a reasonably prudent operator in drilling such additional well or xxxxx as may be reasonably necessary to fully develop the Premises. Neither bonus, pre- paid delay rental, royalties, nor other fees paid or to be paid hereunder shall relieve Lessee from the obligation to fully develop the Premises. Additionally, Lessee will, upon reasonable request from an adjoining lessee of other lands, join with such requesting lessee in pooling to achieve secondary or advanced recovery of oil, gas, and other hydrocarbons that might be produced through the use of enhanced methods covering a greater area than the Premises.
DRILLING AND DEVELOPMENT. 9 C . COMPLETION OF XXXXX; REWORKING AND PLUGGING BACK:................................................ 15 ARTICLE VII.
DRILLING AND DEVELOPMENT. A. WELL: On or before October, 2012, Contract Operator shall commence the drilling of those certain oil and/or gas well(s) known as MEI # 120 (hereinafter "the oil and/or gas well(s) within the AMI" at the location identified in Exhibit "A," which also defines the Area of Mutual Interest. The drilling of the oil and/or gas well(s) within the AMI and the participation therein by all parties is obligatory, subject to Article V1.C.1. as to participation in Completion operations and Article V1.F. as to termination of operations and Article XI as to occurrence of force majeure.
DRILLING AND DEVELOPMENT. The items set forth on Exhibit 5(q), in the aggregate, constitute a true, correct and complete list and description of (i) all obligations that Sellers may have to drill xxxxx on any of the Properties necessary to prevent such Properties from becoming subject to forfeiture, loss, release, or the obligation to re-assign any acreage, lands, leases (or portions thereof) affecting such a Property prior to the commencement of any continuous drilling obligation or similar drilling obligation, and (ii) a description of any clauses in leases affecting the Properties requiring continuous drilling activity; SAVE AND EXCEPT, however, that Exhibit 5(q) does not include any reference to, and no representation is made in this Section 5(q) with regard to, any lease habendum clauses requiring production in paying quantities beyond the primary terms of leases to which the Properties are subject.
