Exploratory Operations at Objective Depth Sample Clauses

Exploratory Operations at Objective Depth. After an Exploratory Well has been drilled to its Objective Depth and all operations in the controlling AFE have been conducted or terminated (except temporary abandonment and permanent plugging and abandonment) and all logs and test results have been distributed to the Participating Parties, the Operator shall promptly notify the Parties entitled to make an Election on an operation proposed under this Article 10.2 of its proposal to conduct subsequent operations in the well. Except for a proposal to permanently plug and abandon the well, the Operator’s proposal shall include an associated AFE and a plan for the operation. The Parties entitled to make that Election are: (a) the Participating Parties, and (b) the Non-Participating Parties in the original well proposal if (1) the subsequent Exploratory Operation proposal is made at the well’s Objective Depth and is for a Sidetrack or Deepening and (2) Article 16.2 (Acreage Forfeiture Provisions) was not applicable to the drilling of that Exploratory Well. The Operator’s proposal shall be for one of the following operations: (a) conduct Additional Testing, Sidewall Coring, or Logging of the formations encountered prior to setting production casing; (b) Sidetrack the well bore to conventionally core the formations encountered; (c) Deepen the well to a new Objective Depth; (d) Sidetrack the well (however, if in the Operator’s sole opinion a casing string is required to Deepen the well, then option “d” shall have priority over Deepening the well to a new Objective Depth); (e) conduct Production Testing; (f) conduct other operations on the well not listed; (g) temporarily abandon the well; or (h) permanently plug and abandon the well. If an Exploratory Well is temporarily abandoned under (g), then any additional operation in that well shall be proposed as a new well operation. A proposal to complete an Exploratory Well that has been temporarily abandoned under clause (g) shall be deemed a Development Operation proposal. If the Operator fails to submit its proposal to the Participating Parties within twenty-four (24) hours (inclusive of Saturdays, Sundays, and federal holidays) after receipt of all logs and test results from an Exploratory Well by the Participating Parties, then any Participating Party may make a proposal. In that event, the procedures in this Article 10.2 shall apply to that proposal, and any reference in this Article 10.2 to the “Operator’s proposal” shall include a proposal made by a Participat...
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Related to Exploratory Operations at Objective Depth

  • Project Objectives 1.1 (Type the Project objectives)

  • Project Objective The Parties will jointly develop the Project Objective based upon the Owner’s requirements, goals, and constraints. The Project Objective is comprised of the Base Program, Target Cost, Added Value Incentive Items, Implementation Documents, and Contract Time, and any other objectives agreed by the Parties. The Project Objective establishes the Project requirements and standards for measuring the Project’s success. The various components of the Project Objective may be incorporated into the Agreement through Amendment upon recommendation of the Project Management Team and approval of the Senior Management Team.

  • Goals & Objectives The purpose of this Agreement is to ensure that the proper elements and commitments are in place to provide consistent IT service support and delivery to the Customer by Centre. The goal of this Agreement is to obtain mutual agreement for IT service provision between Centre and Customer. The objectives of this Agreement are to:  Provide clear reference to service ownership, accountability, roles and/or responsibilities.  Present a clear, concise and measurable description of service provision to the Customer.  Match perceptions of expected service provision with actual service support & delivery.

  • Program Objectives Implement a rigorous constructability program following The University of Texas System, Office of Facilities Planning and Construction Constructability Manual. Identify and document project cost and schedule savings (targeted costs are 5% of construction costs). Clarification of project goals, objectives.

  • Scope and Objectives 1. This Partnership Agreement (hereinafter referred to as the “Agreement”) defines the rights and obligations of the Parties and sets forth the terms and conditions of their cooperation in the implementation of the Project. 2. The Parties shall act in accordance with the legal framework of the EEA Financial Mechanism 2014-2021, namely with the Regulation on the implementation of the EEA Financial Mechanism 2014-2021 (hereinafter referred to as the “Regulation”). The Parties expressly acknowledge to have access to and to be familiar with the content of the Regulation. 3. Any Annexes to this Agreement constitute an integral part of the Agreement. In case of inconsistencies between the Annexes and the Agreement, the latter shall prevail.

  • Goals Goals define availability, performance and other objectives of Service provisioning and delivery. Goals do not include remedies and failure to meet any Service Goal does not entitle Customer to a Service credit.

  • Development Milestones In addition to its obligations under Paragraph 7.1, LICENSEE specifically commits to achieving (either itself or through the acts of a SUBLICENSEE) the following development milestones in its diligence activities under this AGREEMENT: (a) (b).

  • Project Goals The schedule, budget, physical, technical and other objectives for the Project shall be defined.

  • Evaluation Criteria 5.2.1. The responses will be evaluated based on the following: (edit evaluation criteria below as appropriate for your project)

  • Performance Targets Threshold, target and maximum performance levels for each performance measure of the performance period are contained in Appendix B.

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