Oil and Gas. In connection with the mining of any coal on properties where Lessor owns the coal rights and on which there exist any abandoned and/or active oil and gas xxxxx, if Lessor and Lessee mutually agree that it is economically beneficial to mine through any such xxxxx, then Lessor and Lessee agree that each will pay (i) one half of the costs of plugging any abandoned oil or gas xxxxx, and (ii) one half of the costs of plugging, re-drilling and restoring production (including piping relocation) in the case of any active oil and gas xxxxx.
Oil and Gas. (a) The Company has furnished Parent prior to the date of this Agreement with reports estimating the Company’s and its Subsidiaries’ proved oil and gas reserves as of December 31, 2005, as prepared by the Company and audited by Netherland, Xxxxxx & Associates, Inc. (the “Company Reserve Report”). To the Company’s Knowledge, the factual, non-interpretive data on which the Company Reserve Report was based for purposes of estimating the oil and gas reserves set forth in the Company Reserve Report (and in any supplement thereto or update thereof) was accurate in all material respects.
Oil and Gas. (a) Parent has furnished the Company prior to the date of this Agreement with a report estimating certain of Parent and its Subsidiaries’ proved oil and gas reserves as of December 31, 2004 as prepared by Netherland, Sxxxxx & Associates, Inc. ( the “Parent Reserve Report”). The factual, non-interpretive data on which the Parent Reserve Report was based for purposes of estimating the oil and gas reserves set forth in the Parent Reserve Report was accurate in all material respects.
Oil and Gas. (a) The Company has defensible title to its Oil and Gas Leases and, in no event, less than eighty-five percent (85%) of the total present value of the Oil and Gas Leases evaluated in the report of XxXxxxx Petroleum Consultants, Ltd. dated as of January 18, 2019 (the “Reserve Report”), and good title to all its material personal oil and gas assets in each case, free and clear of all encumbrances other than the Liens and such other encumbrances granted in favor of the secured parties under the Prepetition Credit Agreements (as defined in the RSA), including the Supporting Term Lenders, the Supporting RBL Lenders and the Prepetition Agents (as defined in the RSA) or Permitted Liens.
Oil and Gas. The Texas Railroad Commission (TRRC) has jurisdiction over oil and gas development activities. Oil and gas operators are also subject to regulation by the Texas Commission on Environmental Quality (TCEQ). The TRRC regulations, in addition to other regulations, establish a statewide standard designed to establish development on a pattern of one well to each 40 acres where proration units have not been established (16 xxxxx/mi2) (16 Texas Administrative Code, Part 1 § 3.37). Exceptions allow closer spacing. There are also TRRC regulations establishing standards for the cleanup of oil spills and the management of plugged and abandoned xxxxx that are designed to protect the environment and human health. TRRC also has authority over intrastate pipelines. No prior approval is required for pipeline construction. Test waters for pipeline integrity are often associated with compressor stations and require a water discharge permit for disposal from the TCEQ. The 2020 DSL CCAA offers the ability to bring substantial acres of DSL Habitat on private lands into conservation, generate sustainable revenue to fund conservation and scientific study under the plan, and minimize the overall disturbance from oil and gas development.
Oil and Gas. There is one existing oil and gas pipeline on the Community Forest that is operated by Pacific Northern Gas. As well, there are three proposed pipelines operated by Pacific Trails Pipeline, TransCanada Coastal, and Enbridge. We have agreements in place for the Pacific Trails Pipeline and TransCanada Coastal. We will continue to develop agreements with oil and gas companies for the pipelines active and proposed on the Community Forest.
Oil and Gas. (a) The Company has furnished Purchaser prior to the date of this Agreement with the report of Data Consulting Services, a division of Schlumberger Technology Corporation, estimating the Company’s and its Subsidiaries’ proved oil and gas reserves as of December 31, 2004 (the “Reserve Report”). The factual, non-interpretive data on which the Reserve Report was based for purposes of estimating the oil and gas reserves set forth in the Reserve Report was accurate in all material respects.
Oil and Gas. (a) Parent has furnished the Company prior to the date of this Agreement with a report estimating Parent’s and its Subsidiaries’ proved oil and gas reserves as of January 1, 2012 as prepared by Xxxxxxx X. Xxxx & Associates, Inc. (the “Parent Reserve Report”). To Parent’s Knowledge, the factual, non-interpretive data on which the Parent Reserve Report was based for purposes of estimating the oil and gas reserves set forth in the Parent Reserve Report (and in any supplement thereto or update thereof) was accurate and complete in all material respects. The Parent Reserve Report conforms in all material respects to the guidelines with respect thereto of the SEC. To Parent’s Knowledge, the gross and net undeveloped acreage of Parent and its Subsidiaries as reported in Parent’s most recent Form 10-K filed with SEC was correct in all material respects as of the date of such Form 10-K.
Oil and Gas. (a) The Company has furnished Parent prior to the date of this Agreement with reports estimating the Company’s and its Subsidiaries’ proved oil and gas reserves as of January 1, 2012, as prepared by Xxxxxx, Xxxxxxxxx & Associates, Inc. (the “Company Reserve Report”). To the Company’s Knowledge, the factual, non-interpretive data on which the Company Reserve Report was based for purposes of estimating the oil and gas reserves set forth in the Company Reserve Report (and in any supplement thereto or update thereof) was accurate and complete in all material respects. The Company Reserve Report conforms in all material respects to the guidelines with respect thereto of the SEC. To the Company’s Knowledge, the gross and net undeveloped acreage of the Company and its Subsidiaries as reported in the Company’s most recent Form 10-K filed with the SEC was correct in all material respects as of the date of such Form 10-K.
Oil and Gas. (a) The Company has furnished to Parent a reserve report prepared by Lxx Xxxxxxx and Associates, Inc. containing estimates of the oil and gas reserves that are owned by the Company and its Subsidiaries as of December 31, 2007 (the “Company Reserve Report”). The factual, non-interpretive data relating to the Oil and Gas Interests of the Company and its Subsidiaries on which the Company Reserve Report was based for purposes of estimating the oil and gas reserves set forth therein, to the knowledge of the Company, was accurate in all material 13 respects at the time such data was provided to the reserve engineers for the Company Reserve Report. The Company Reserve Report conforms to the guidelines with respect thereto of the SEC. Except for changes (including changes in Hydrocarbon commodity prices) generally affecting the oil and gas industry and normal depletion by production, there has been no change in respect of the matters addressed in the Company Reserve Report that would reasonably be expected to have a Material Adverse Effect on the Company. Since January 1, 2005, all of the Company’s and its Subsidiaries’ wxxxx have been drilled and (if completed) completed, operated and produced in compliance in all respects with applicable oil and gas leases and applicable Laws, except where any noncompliance would not reasonably be expected to have a Material Adverse Effect on the Company. To the Company’s knowledge, neither the Company nor any of its Subsidiaries is in violation of any applicable Law or contract requiring the Company or such Subsidiary to plug and abandon any well because the well is not currently capable of producing in commercial quantities or for any other reasons. With respect to any Oil and Gas Interests of the Company and its Subsidiaries that are not operated by the Company or any of its Subsidiaries, the Company makes the representations and warranties set forth in this Section 3.6 only to its actual knowledge without having made specific inquiry of the operators with respect hereto.
