Percentage Recoupment for Non-Consent Operations Sample Clauses

Percentage Recoupment for Non-Consent Operations. Except as provided in Articles 16.2 (Acreage Forfeiture Provisions) and 16.4 (Non-Consent Operations to Maintain a Designated Prospect), upon the timely commencement of any Non-Consent Operation, each Non- Participating Party's Working Interest in the Non-Consent Operation along with the right to produce Hydrocarbon therefrom shall be owned by and vested in each Participating Party in the proportion that each Participating Party's Working Interest bears to the total Working Interest of all Participating Parties (unless other proportions are agreed in writing by the Participating Parties) for as long as the Non-Consent Operation originally proposed is being conducted or Hydrocarbon production is obtained from the Non-Consent Operation subject to Non-Consent Articles 16.6.1 (Dry Hole Reversion) and 16.6.2 (Deepening a Non-Consent Well). Subject to Article 16.6 such Working Interest, and rights and title to Hydrocarbon production shall revert to each Non-Participating Party when all Participating Parties have recouped from the Non- Participating Party's former Working Interest and proceeds from production associated with that Working Interest an amount equal to the product of such Participating Party s share of the Costs of the Non-Consent Operation multiplied by the recoupment percentage for each operation set out below. The Non-Participating Party's Share of the Non-Consent Operation shall be reduced (to the extent of the Non-Participating Party's prior Working Interest) by any third-party cash contribution credited to the Non-Consent Operation. Upon recoupment by the Participating Parties of the recoupment percentage, the Working Interest forfeited by the Non-Participating Parties in the Non-Consent Operation,, shall revert to the former Non-Participating Party and the former Non-Participating Party shall become a Participating Party in the Non-Consent Operation.
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