Common use of Drilling Obligations Clause in Contracts

Drilling Obligations. Except as otherwise permitted hereunder, there are no obligations under any Oil and Gas Property or Contract which require the drilling of additional xxxxx or operations to earn or to continue to hold any of the Oil and Gas Properties covered in the most recently delivered Engineering Report in force and effect, except those under customary continuous operations provisions that may be found in one or more of the oil and gas and/or oil, gas and mineral leases.

Appears in 5 contracts

Samples: Credit Agreement (Penn Virginia Corp), Credit Agreement (Penn Virginia Corp), Credit Agreement (Penn Virginia Corp)

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Drilling Obligations. Except as otherwise permitted hereunder, there There are no obligations under any Oil and Gas Property or Contract which require the drilling of additional xxxxx or operations to earn or to continue to hold any of the Oil and Gas Properties covered in the most recently delivered Engineering Report in force and effect, except those under customary continuous operations provisions that may be found in one or more of the for oil and gas and/or oil, leases that are still within their primary term (each of which will require drilling operations to perpetuate it beyond its primary term) and the standard provision in certain oil and gas and mineral leasesleases that requires either production or operations to perpetuate each respective lease after the expiration of its primary term.

Appears in 4 contracts

Samples: Pledge Agreement (Cano Petroleum, Inc), Security Agreement (Cano Petroleum, Inc), Subordinated Credit Agreement (Cano Petroleum, Inc)

Drilling Obligations. Except as otherwise permitted hereunder, there are no obligations under any Oil and Gas Property or Contract which require the drilling of additional xxxxx or operations to earn or to continue to hold any of the Oil and Gas Properties covered in the most recently delivered Engineering Report in force and effect, except those under customary continuous operations provisions that may be found in one or more of the oil and gas and/or oil, gas and mineral leasesleases described on Exhibit A to each Mortgage.

Appears in 2 contracts

Samples: Credit Agreement (Gastar Exploration Inc.), Credit Agreement (Gastar Exploration LTD)

Drilling Obligations. Except as otherwise permitted hereunder, there There are no obligations under any Oil and Gas Property or Contract which require the drilling of additional xxxxx wxxxx or operations to earn or to continue to hold any of the Oil and Gas Properties covered in the most recently delivered Engineering Report in force and effect, except those under customary continuous operations provisions that may be found in one or more of the oil and gas and/or oil, gas and mineral leases.leases described on Exhibit A.

Appears in 2 contracts

Samples: Credit Agreement (Mariner Energy Resources, Inc.), Credit Agreement (Mariner Energy Inc)

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Drilling Obligations. Except as otherwise permitted hereunder, there There are no obligations under any Oil and Gas Property or Contract which require the drilling of additional xxxxx or operations to earn or to continue to hold any of the Oil and Gas Properties covered in the most recently delivered Engineering Report in force and effect, except those under customary continuous operations provisions that may be found in one or more of the oil and gas and/or oil, gas and mineral leases.

Appears in 2 contracts

Samples: Credit Agreement (Mariner Energy Inc), Credit Agreement (Mariner Energy Resources, Inc.)

Drilling Obligations. Except as otherwise permitted hereunder, there There are no obligations under any Oil and Gas Property or Contract which require the drilling of additional xxxxx or operations to earn or to continue to hold any of the Oil and Gas Properties covered in the most recently delivered Engineering Report in force and effect, except those under customary continuous operations provisions that may be found in one or more of the for oil and gas and/or oil, leases and term assignments that are still within their primary term (each of which will require drilling operations to perpetuate it beyond its primary term) and the standard provision in certain oil and gas leases and mineral leasesterm assignments that requires either production or operations to perpetuate each respective lease after the expiration of its primary term.

Appears in 1 contract

Samples: Security Agreement (Callon Petroleum Co)

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