DRILLING AND DEVELOPMENT. A. Agreement To Drill and Complete: PDC shall commence drilling of a well or wxxxx on each Prospect within 180 days of the date of the initial formation of the Partnership, but in no case later than March 30, 2007 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:
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. (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. 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. Initial Well: On or before , Operator shall commence the drilling of the Initial Well at the following location: and shall continue the drilling of the well with due diligence to test the appropriate formation(s) as determined by Operator. The drilling of the Initial Well and the participation in it by all parties is obligatory, subject to Article VI.C.1. as to participation in Completion operations and Article VI.F. as to termination of operations, and Article XI as to occurrence of force majeure.
DRILLING AND DEVELOPMENT. 9 C . COMPLETION OF XXXXX; REWORKING AND PLUGGING BACK:........................................................ 15 ARTICLE VII.
DRILLING AND DEVELOPMENT. A. Subsequent Operations- An A.F.E. will be provided for the costs for all proposed operations on the lease acreage. Upon receipt of the AFE, each Non-Operator will be given fifteen (15) days to accept or reject their participation in the proposed operations. Upon acceptance of the A.F.E., each Non-Operator will immediately forward their proportionate share of the cost to VEC Enterprises. If any party to whom such notice elects not to participate in the Proposed Operation, and the total AFE cost for the proposed operation exceeds $50,000.00, then that party shall forfeit his or her working interest share in only the well or xxxxx covered by the operation. Non-Participating parties shall not however, lose or forfeit their rights to the initial well or xxxxx on the subject property in which such Non-Participating party has participated nor shall the non-participating party lose his or her right to participate in any future operations. If, however, the total cost for the proposed operation is below $50,000.00, then the party electing not to participate shall be subject to an additional recoupment amount or add- back of their percentage of the actual costs plus 400% of those costs. That is , the consenting parties and/or operator, whichever shall pay the non-paying parties obligations shall be entitled to the amount paid plus 400% from the non-paying parties revenue share from the well or xxxxx covered by the operations and only once that amount is received by the paying party shall the non-paying party be entitled to receive his or her share.
DRILLING AND DEVELOPMENT. A. Initial Well: On or before the 30th day of September , 2010, Operator shall commence production of the xxxxx at the following location: Xxxxx previously operated by Hydrocarbon Operating Company and located in Xxxx county, Kentucky that are capable of production.
