Operator’s Charges for Drilling and Completing Wxxxx Sample Clauses

Operator’s Charges for Drilling and Completing Wxxxx. Each oil and gas well that is drilled and completed under this Agreement shall be drilled and completed for an amount equal to the sum of the following items: (i) the Cost of permits, supplies, materials, equipment, and all other items used in the drilling and completion of a well provided by third-parties, or if the foregoing items are provided by Affiliates of the Developer’s Managing General Partner, then those items will be charged at competitive rates; (ii) fees for third-party services; (iii) fees for services provided by the Developer’s Managing General Partner’s Affiliates, which will be charged at competitive rates; (iv) an administration and oversight fee of $15,000 per well, which will be charged to the Developer’s investors as part of each well’s Intangible Drilling Costs, as that term is defined below and the portion of Tangible Costs, as that term is defined below, paid by the Developer’s investors; and (v) a mxxx-up in an amount equal to 15% of the sum of (i), (ii), (iii) and (iv), above, for the Developer’s Managing General Partner’s services as general drilling contractor as Operator under this Agreement. “Cost” shall mean the price paid by Operator in an arm’s-length transaction. The estimated price for drilling and completing (or plugging) each of the wxxxx shall be set forth in an Authority for Expenditure (“AFE”), which shall be attached to this Agreement as an Exhibit, and shall cover all ordinary costs that may be incurred in drilling and completing (or plugging) each well. This includes without limitation, site preparation, permits and bonds, roadways, surface damages, power at the site, water, Operator’s compensation as set forth above, rights-of-way, drilling rigs, equipment and materials, costs of title examinations, logging, cementing, fracturing, casing, meters (other than utility purchase meters), connection facilities, salt water collection tanks, separators, siphon string, rabbit, tubing, an average of 2,500 feet of gathering line per well in connection with each gas well, and geological, geophysical and engineering services.
Sample 1
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