Initial Test Well. NEWFIELD, as operator under the Operating Agreement (defined in Article III below), and subject to rig availability and obtaining all requisite permits, agrees to use reasonable efforts to commence, or cause to be commenced, on or before [Redacted], actual drilling of the [Redacted] (“ITW”) at an approximate surface coordinate location of[Redacted]. The ITW is to be drilled as an Exploratory Well (as such term is used in the Operating Agreement) to 22,000’ MD / TVD or a depth sufficient to test the stratigraphic equivalent of the ‘21,000’ and 22,000’ Sand’ (the “Objective Depth”), whichever is the lesser depth. An Authority for Expenditure (“AFE”) for the ITW is attached to this Agreement as Exhibit “A-1” (the “Approved AFE”) and by the execution hereof, each of NEWFIELD and RIDGEWOOD agrees to participate in the drilling of the ITW in accordance with the terms hereof. Contemporaneously with the execution of this Agreement, RIDGEWOOD agrees to execute and deliver to NEWFIELD a counterpart copy of the Approved AFE. The failure to timely commence the drilling of the ITW and the Parties agreement to terminate this Agreement, shall result in the termination of this Agreement, the return of the Cash Consideration by NEWFIELD to RIDGEWOOD and the reassignment from RIDGEWOOD to NEWFIELD of all of its record title interest in and to the Leases. Otherwise, there shall be no penalty for failure to timely commence the drilling of the ITW. [Redacted] Prospect Ridgewood Energy Corporation 2 Participation Agreement
Initial Test Well. 4.1 The Initial Test Well will be drilled from a surface location on Apache’s South Timbalier 308 A Platform to a bottomhole location on the Lease, pursuant to the well plan attached hereto as Exhibit “A” and to a depth sufficient to test the lowest Catinaster coalitus Sand as seen in the ST 308 #A-3 with top of sand at 20,750’ MD/19,604’ TVD and base at 20,868’ MD/19,720’ TVD (“Objective Depth”).
Initial Test Well. Ridgewood agrees to assume their Participating Interest in the costs to drill and evaluate the ITW to “Casing Point”. The Authority for Expenditure (“AFE”) to drill the ITW is attached hereto as Exhibit “C”. Concurrent with the execution of this Agreement, the parties agree to approve and execute the formal AFE. As used in this Agreement, "
Initial Test Well. Lease Owners and Participants shall diligently prosecute the drilling of the Initial Test Well on the Contract Area to the lesser of: (a) a depth of 16,375’ MD/16,200’TVD, or (b) a depth sufficient to test the stratigraphic equivalent of the Big A-4 Sand, as seen between the depths of 15,600’ MD and 15,700’ MD on the induction focused log in the REDACTED (the “Objective Depth”). The Initial Test Well will be drilled from a surface location on REDACTED to the Objective Depth with an approximate target location at the Objective Depth having REDACTED Coordinates of X= REDACTED and Y= REDACTED.
Initial Test Well. 1. Subject to permitting and rig availability, Helis, as Operator, shall use commercially reasonable efforts to commence or cause to be commenced by August 31, 2008 the drilling and completion (subject to the casing point election) of a well at a location on the Lease set out on the Operator’s Authority for Expenditure (AFE) attached hereto as Exhibit “C”, the “Initial Test Well”.
Initial Test Well. 10.1 Westside and Forest shall, on or before August 1, 2006 commence the drilling of a horizontal exploratory well (the "Initial Exploratory Well"), at a mutually agreeable location within the boundaries of the "Contract Area". Said Initial Exploratory Well shall be designed to reach a measured depth of 10,678' and True Vertical Depth of 8,500' with a minimum 2000' lateral section. The Parties agree to use commercially reasonable efforts to drill the Initial Exploratory Well to a depth adequate, in Forest's reasonable opinion, to test the Bxxxxxx Shale section identified between the stratigraphic equivalent depths of 8,630' and 8,876' as seen on the Induction Electric Log in Mobil Oil Corporation's A.X. Xxxxxxx #1 Well, (J. X. Xxxx Survey A-750, Hill County, Texas), or such other lateral depths as agreed upon between Westside and Forest (the "Objective Depth").
Initial Test Well. On or before October 1, 2013 Operator shall commence the actual drilling of a Test well located on the Contract Acreage ("Initial Test Well"). Said well shall be drilled diligently, without unnecessary delay, and in a workmanlike manner to the base of the Tensleep Formation defined as the stratigraphic equivalent of 7,854’ as found in the Xxxxx Bros. 4 well located in the NE/4SW/4 Section 11-T20N-R79W (“Initial Contract Depth”), and shall be Completed if a well capable of production in paying quantities, or plugged and abandoned if a dry hole, in accordance with all applicable laws, rules and regulations and this contract. Operator shall notify Farmor in writing of the commencement of actual drilling operations for the Initial Test Well within ten (10) days prior to such commencement, furnishing a copy of the surveyor's Plat of Location. For purposes of this Contract, the term “Complete(s)”, “Completed” or “Completion” shall mean operations to complete a well as a producer of oil and/or gas, including, but not limited to, the setting of production casing, perforating, well stimulation and production testing.
Initial Test Well. On or before April 21, 2006, Operator shall commence the drilling of at least one well in search of oil and/or gas at a legal location on a lease owned by First Party or a lease pooled therewith and shall continue the drilling of the well with due diligence to a depth sufficient to test the Hartshorne Coal formation or to a zone acceptable to both First Party and Second Party which is sufficient to extend the term of the lease(s).
Initial Test Well. On or before November 30, 2013, (herein referred to as the "Farmout Term"), Farmee shall commence operations (herein defined as the "spudding in" of a well) or cause to be commenced the actual drilling of a SWD well located on the Hxx Xxxxx Acreage in Cxxxxxxx County, Texas, at Farmee's sole cost and expense, with suitable rotary equipment (herein referred to as the "Initial Test Well") at a legal location of Farmee's choice on the Hxx Xxxxx Acreage and thereafter continuously prosecute such drilling operations in a diligent and workmanlike manner until the well has been drilled to a depth sufficient to electric log test the Exxxxxx Limestone Formation (herein referred to as the "Objective Depth"). Thereafter, Farmee shall then commence operations for the drilling of an Exxxxxx Limestone Horizontal Lateral Test Well ("First Exxxxxx Lateral") on the Hxx Xxxxx Acreage at a legal location of Farmee's choice within Sixty (60) days from the logging of the Initial Test Well and drill such well in a diligent and workmanlike manner, at Farmee's sole cost and expense, until the well has been drilled to a sufficient depth and length of not less than 800 feet to adequately test the Exxxxxx Limestone Formation. Failure of Farmee to timely commence operations for the drilling of the Initial Test Well and/or to timely commence operations for the drilling of the First Exxxxxx Lateral, shall cause this Farmout Agreement to expire, terminate and become of no further force and effect, and Farmor shall retain all prior payments as liquidated damages.
Initial Test Well. The Initial Test Well for the Prospect shall be drilled at the approximate surface location and to the approximate bottom hole location and depth shown on Exhibit "C" attached hereto to test the formation(s) more particularly described therein, Final well locations (surface and bottom hole), together with the proposed total depth of the well and the formations to be tested shall be mutually agreed upon by ORX and PetroReal prior to spudding the Initial Test Well for the Prospect. PetroReal shall participate in the Initial Test Well for the Prospect to the extent of the PetroReal Participation Percentage. All operations for the drilling and testing of the Initial Test Well on the Prospect shall be conducted in accordance with the terms and conditions of the Operating Agreement attached hereto as Exhibit "D" and made a part hereof for all purposes. 4.
