Enterra and JMG Farmouts Sample Clauses

Enterra and JMG Farmouts. Enterra and JMG hereby agree that when assets acquired by JMG have been sufficiently drilled to establish the existence of commercially viable hydrocarbons, on an area by area, play or project basis, JMG=s working interests, and Enterra=s working interests acquired from JMG pursuant to subclause 1(d), if any, will be offered to be farmed out to XXX on the basis that XXX will pay 100% of all costs allocable to both farmors= working interests (including any required tie-ins and facility costs) to earn 70% of such interests in the producing zones of the spacing units of all new xxxxx drilled and Enterra and JGM each retain a carried interest of 30% of their respective working interests.
Sample 1
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Enterra and JMG Farmouts. Enterra and JMG hereby agree Enterra’s 80% of JMG’s working interests acquired by Enterra pursuant to subclause 1(d) and JMG’s remaining 20% working interests will be farmed out to XXX on the basis that XXX will pay 100% of all costs allocable to both farmors working interests (including any required tie-ins and facility costs) to earn 70% of such interests in the producing zones of the spacing units of all new xxxxx drilled and Enterra and JGM each retain a carried interest of 30% of their respective working interests.
Sample 1

Related to Enterra and JMG Farmouts

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