Farmouts. The Managing General Partner shall not enter into a Farmout to avoid its paying its share of costs related to drilling a well on an undeveloped Lease. The Partnership may Farmout an undeveloped lease or well activity only if the Managing General Partner, exercising the standard of a prudent operator, determines that:
Appears in 4 contracts
Samples: Limited Partnership Agreement (DGOC Series 28, L.P.), Limited Partnership Agreement (DGOC Series 28, L.P.), Limited Partnership Agreement (Atlas Resources Series 28-2010 L.P.)
Farmouts. The Managing General Partner shall not enter into a Farmout to avoid its paying its share of costs related to drilling a well on an undeveloped Lease. The Partnership may Farmout an undeveloped lease or well activity to the Managing General Partner, its Affiliates, or unaffiliated third-parties only if the Managing General Partner, exercising the standard of a prudent operator, determines that:
Appears in 3 contracts
Samples: Limited Partnership Agreement (Atlas America Series 25-2004 B Lp), Limited Partnership Agreement (Atlas America Series 25-2004 a L P), Limited Partnership Agreement (Atlas America Public #15-2005 Program)
Farmouts. The Managing General Partner shall not enter into a Farmout to avoid its paying its share of costs costs, if any, related to drilling a well on an undeveloped Lease. The Partnership may Farmout an undeveloped lease or well activity only if the Managing General Partner, exercising the standard of a prudent operator, determines that:
Appears in 1 contract
Samples: Partnership Agreement (Atlas Resources Series 33-2013 L.P.)