Platform Salvage and Removal Costs. When the PARTIES owning FACILITIES consisting of a platform, mutually agree to dispose of such platform it shall be disposed of by the OPERATOR as approved by such PARTIES. The costs, risks and net proceeds, if any, resulting from such disposition shall be shared by such PARTIES in proportion to their PARTICIPATING INTEREST.
Appears in 3 contracts
Samples: Joint Operating Agreement (Ridgewood Enengy K Fund LLC), Joint Operating Agreement (Ridgewood Energy K Fund LLC), Joint Operating Agreement (Ridgewood Energy L Fund LLC)
Platform Salvage and Removal Costs. When the PARTIES Parties owning FACILITIES consisting of a platform, Platform mutually agree to dispose of such platform Platform, it shall be disposed of by the OPERATOR Operator as approved by such PARTIESParties. The costs, risks and net proceeds, if any, resulting from such disposition shall be shared by such PARTIES Parties in proportion to their PARTICIPATING INTERESTownership interests therein.
Appears in 2 contracts
Samples: Letter Agreement, Joint Operating Agreement (West Texas Resources, Inc.)
