Initial Well Sample Clauses
Initial Well. The Operator shall serve an Operation Notice to the Parties for the drilling of the Initial Well. Notwithstanding the provisions for Commencement in Clause 10.03 of the Operating Procedure, the Parties agree that Commencement of the Initial Well shall occur on or before the Obligation Date. Except as otherwise provided in the preceding sentence, the Operating Procedure shall apply to the Initial Well.
Initial Well. The Operator shall serve an Operation Notice to the Parties for the drilling of the Initial Well.
Initial Well. On or before May 31st, 2006, or such other mutually agreed date, the Farmee shall participate in the drilling of a minimum of one well (the “Initial Well”) substantially on the terms set out in the Operating Agreement. The Farmee shall have the option but not the obligation to earn up to a 25% Working Interest (WI) in the Initial Well by paying up to 33.33% of all costs and expenses incurred for the joint account under the Operating Agreement respecting the drilling and completion of said Well to its objective depth. Star shall provide notice to the Farmee of the drilling of the Initial Well together with the Authority for Expenditure as described below therefore required at least 15 days prior to the anticipated spud date of the Well, and the Farmee shall have 7 days from receipt of such notice to elect by notice in writing to Star to participate in that Well. Failure to respond within such 7-day period shall be deemed an election by the Farmee not to participate. If the Farmee elects or is deemed to elect not to participate in a Well the Farmee shall maintain their right to participate in any Well proposed thereafter. Once the Initial Well has been drilled to its objective depth the Farmee shall have the right to elect, upon receiving all information available in respect of the Initial Well, to participate in the setting of production casing for and completion of the Initial Well as described in the Authority for Expenditure. If the Farmee elects not to participate in the proposed casing and completion of the Initial Well and such operation is carried out, the Farmee shall be subject to those penalties applicable pursuant to the Operating Agreement. If all parties with an interest in the Initial Well elect to abandon it, the Farmee shall pay its WI share of all costs associated with the plugging and abandoning the Initial Well.
Initial Well. Following Petrogen's signing and delivery of the Assignment and Nortex's payment of the Cash Consideration, Petrogen and Nortex will agree upon a location on the Leases and a spud date for the drilling of a well ("INITIAL WELL") to test the Miocene formation. Such agreement shall be memorialized in a detailed Authority for Expenditure ("AFE"). Nortex will pay fifty percent of eight-eighths (50% of 8/8) of the costs for the Initial Well until it is either plugged and abandoned as a dry hole or completed and producing into the tanks or a sales pipeline at or above the Miocene formation. To the extent that costs for the Initial Well exceed one-hundred ten percent (110%) of the AFE'd costs, Nortex will pay only thirty-seven and one-half percent (37.5%) of the costs that exceed one-hundred ten percent (110%) of the costs incurred in drilling and completing the Initial Well. After the Initial Well, Nortex will pay its thirty-seven and one-half percent of eight-eighths (37.5% of 8/8) share of all operations on the Leases.
Initial Well. The initial well under this agreement has already been drilled, and this agreement shall apply to all other operations within the Luther Prospect. The drilling of the Initial Well and the participation in it by all parties is obligatory, subject to Article VI.C.1. as to participation in Completion operations and Article VI.F. as to termination of operations, and Article XI as to occurrence of force majeure.
Initial Well. On or before December 1, 2011 Operator shall commence the Reworking and Fracing of one of the two Xxxxx at the following location: and shall continue the Fracing operation until completed.
Initial Well a. On or before the [___] day of [________], 2011, Operator shall commence the drilling of a well for oil and gas at the location shown on Exhibit “E” attached hereto and made a part hereof and shall thereafter continue the drilling of the well with due diligence to [the Completion Point as defined in, and in accordance with, _______________], unless granite or other practically impenetrable substance or condition in the hole, which renders further drilling impractical, is encountered at a lesser depth, or unless all parties agree to complete or abandon the well at a lesser depth.
b. Operator shall make reasonable tests of all formations encountered during drilling which give indication of containing oil and gas in quantities sufficient to test, unless this agreement shall be limited in its application to a specific formation or formations, in which event Operator shall be required to test only the formation or formations to which this agreement may apply. It is contemplated that the Initial Well, pursuant to the Participation Agreement to which this Operating Agreement is attached, will be drilled to the depth of [__________] and thereafter drilled as a horizontal borehole to a projected length of [__________]. All references to “Initial Well” or “Subsequent Operations” shall include operations on a horizontal borehole within the Woodbine Formation. If, in Operator’s judgment, the well will not produce oil or gas in paying quantities, and it wishes to plug and abandon the well as a dry hole, the provisions of Section 6.5 shall thereafter apply.
Initial Well. Crimson, as Operator of the Contract Area, shall use its best efforts to commence operations for the drilling and completion of the Initial Well on or before November 15, 2011 at Crimson’s recommended location after conducting title examination and consulting with the surface owner. The Initial Well will be drilled to the Eagle Ford Shale Formation in a continuous, diligent and workmanlike manner pursuant to the terms of the JOA, and in accordance with AFE and accompanying well plan for such well. The Initial Well and all subsequent wxxxx and operations in the Contract Area shall be subject to the terms of the JOA.
Initial Well. As additional consideration for this Agreement, BEUSA agrees to commence or cause to be commenced the drilling of a well in search of oil and/or natural gas in commercial quantities (the "Initial Well")
Initial Well. The Well Program is expected to commence with the reentry of the Section 80 Well (API #42-371-30774) (the “Initial Well”) promptly after the closing of the transactions contemplated hereunder (the “Closing”). Madoff will evaluate the performance of the Initial Well after the drilling, re-entry and completion thereof, at which time Madoff will determine its interest in continuing the Well Program. Madoff shall provide Pantera with written notice of its determination within 5 days after receipt of data relating to 30 days production from the Initial Well. If Madoff elects to terminate its participation in the Well Program, it shall have no further liability or obligation under this Agreement or the Well Program.