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.
Appears in 2 contracts
Samples: Drilling and Operating Agreement (PDC 2003-D Lp), Drilling and Operating Agreement (PDC 2003 Drilling Program I)
DRILLING AND DEVELOPMENT. A. Agreement To Drill and Complete: PDC shall commence drilling of a well or xxxxx wxxxx 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.
Appears in 2 contracts
Samples: Drilling and Operating Agreement (PDC 2003-C Lp), Drilling and Operating Agreement (PDC 2003-B Lp)
DRILLING AND DEVELOPMENT. A. Agreement To Drill and Complete: PDC shall commence drilling of a well or xxxxx wxxxx on each Prospect within 180 days of the date of the initial formation of the PartnershipsPartnership, but in no case later than March 30, 2004 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.
Appears in 2 contracts
Samples: Drilling and Operating Agreement (Rockies Region 2006 Limited Partnership), Drilling and Operating Agreement (Rockies Region 2006 Private Limited Partnership)
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 2005 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 garnering 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.
Appears in 1 contract
Samples: Drilling and Operating Agreement (PDC 2004-C Limited Partnership)
DRILLING AND DEVELOPMENT. A. Agreement To Drill and Complete: PDC shall commence drilling of a well or xxxxx wxxxx on each Prospect within 180 days of the date of following the initial formation and funding of the PartnershipsPartnership, but in no case later than March 30, 2004 2008 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.
Appears in 1 contract
Samples: Drilling and Operating Agreement (Rockies Region 2007 Lp)
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 2005 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, heatershealers, 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.
Appears in 1 contract
Samples: Drilling and Operating Agreement (PDC 2004-a Limited Partnership)