Common use of Drilling Standard Clause in Contracts

Drilling Standard. Chesapeake shall drill or cause to be drilled, at its sole cost and expense (as between the Parties), each of the Development Xxxxx in a diligent manner in accordance with the Reasonably Prudent Operator Standard, subject to Assignor’s limited rights as a non-operator of those Development Xxxxx of which neither Assignor nor one of its Affiliates is the operator; provided, however, that when and where neither Assignor nor one of its Affiliates is the operator of a Development Well and Assignor has elected to participate as a non-operator in the drilling of such Development Well, Assignor shall use commercially reasonable efforts to exercise its contractual rights with respect to the operator of such Development Well to cause such operator to drill such Development Well in accordance with the Reasonably Prudent Operator Standard.

Appears in 4 contracts

Samples: Development Agreement, Development Agreement (Chesapeake Granite Wash Trust), Development Agreement (Chesapeake Granite Wash Trust)

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