Common use of Ownership of Production Clause in Contracts

Ownership of Production. All the oil, gas and casinghead gas produced for the account of the Leasehold Interests from any well shall be owned by McMoRan, Participant and by the other members of the McMoRan Group severally, in proportion to the respective interests of each therein as set forth in Paragraph 3.2. above, except as otherwise provided in this Agreement, and subject to the right, if any, that others may have under the terms of this Agreement or any operating agreement relating to such well. Anything to the contrary herein notwithstanding, each party shall at all times have the right to take in kind or separately dispose of such party's share of the production from any such well, subject to the provisions of the applicable Program Operating Agreement. McMoRan shall, however, attempt to give Participant at least seven (7) days advance written notice of the anticipated date of first deliveries of any production from a Prospect.

Ownership of Production. All the oil, gas and casinghead gas produced for the account of the Leasehold Interests from any well shall be owned by McMoRan, McMoRan and Participant and by the other members of the McMoRan Group severally, in proportion to the respective interests of each therein as set forth in Paragraph 3.2. above, except as otherwise provided in this Agreement, and subject to the right, if any, that others may have under the terms of this Agreement or any operating agreement relating to such well. Anything to the contrary herein notwithstanding, each party shall at all times have the right to take in kind or separately dispose of such party's share of the production from any such well, subject to the provisions of the applicable Program Operating Agreement. McMoRan shall, however, attempt to give Participant at least seven (7) days advance written notice of the anticipated date of first deliveries of any production from a Prospect.

Ownership of Production. All the oil, gas and casinghead gas produced for the account of the Leasehold Interests from any well shall be owned by McMoRan, Participant and by the other members of the McMoRan Group severally, in proportion to the respective interests of each therein as set forth in Paragraph 3.2. above, except as otherwise provided in this Agreement, and subject to the right, if any, that others may have under the terms of this Agreement or any operating agreement relating to such well. Anything to the contrary herein notwithstanding, each party shall at all times have the right to take in kind or separately dispose of such party's share of the production from any such well, subject to the provisions of the applicable Program Operating Agreement. McMoRan shall, however, attempt to give Participant at least seven (7) days advance written notice of the anticipated date of first deliveries of any production from a Prospect. XVI.