Common use of Offset Obligations Clause in Contracts

Offset Obligations. In the event a well or xxxxx producing oil or gas in paying quantities should be brought in on land within 500 feet from any boundary of the leased premises. Lessee agrees within sixty (60) days from commencement of production from such well or xxxxx to commence the actual drilling of an offset well or xxxxx on the leased premises, or Lessee shall release to Lessor free of this Lease the offsetting tract of at least one hundred twenty (120) acres.

Offset Obligations. In the event a well or xxxxx producing oil or gas in paying quantities should be brought in on land within 500 330 feet from any boundary of the leased premises. Lessee agrees within sixty (60) days from commencement of production from such well or xxxxx to commence the actual drilling of an offset well or xxxxx on the leased premises, or Lessee shall release to Lessor free of this Lease the offsetting tract of at least one hundred twenty (120) acres.

Offset Obligations. In the event a well or xxxxx producing oil or gas in paying quantities should be brought in perforated on land within 500 330 feet from any boundary of the leased premises. , Lessee agrees within sixty (60) days from commencement of production from such well or xxxxx to commence the actual drilling of an offset well or xxxxx on the leased premises, or Lessee shall release to Lessor free of this Lease the offsetting tract of at least one hundred twenty (120) acrestract.