Production Payments and Reserve Sales. (2) any obligation of a Person in respect of a farm-in agreement or similar arrangement whereby such Person agrees to pay all or a share of the drilling, completion or other expenses of an exploratory or development well (which agreement may be subject to a maximum payment obligation, after which expenses are shared in accordance with the working or participation interest therein or in accordance with the agreement of the parties) or perform the drilling, completion or other operation on such well in exchange for an ownership interest in an oil or gas property;
Appears in 41 contracts
Samples: Supplemental Indenture (SM Energy Co), Indenture (Goodrich Petroleum Corp), Intercreditor Agreement (SM Energy Co)
Production Payments and Reserve Sales. (2) any obligation of a such Person in respect of a farm-in agreement or similar arrangement whereby such Person agrees to pay all or a share of the drilling, completion or other expenses of an exploratory or development well (which agreement may be subject to a maximum payment obligation, after which expenses are shared in accordance with the working or participation interest therein or in accordance with the agreement of the parties) or perform the drilling, completion or other operation on such well in exchange for an ownership interest in an oil or gas property;
Appears in 14 contracts
Samples: Indenture (ANTERO RESOURCES Corp), Indenture (ANTERO RESOURCES Corp), Indenture (ANTERO RESOURCES Corp)
Production Payments and Reserve Sales. (2) any obligation of a Person in respect of a farm-in agreement or similar arrangement whereby such Person agrees to pay all or a share of the drilling, completion or other expenses of an exploratory or development well (which agreement may be subject to a maximum payment obligation, after which expenses are shared in accordance with the working or participation interest therein or in accordance with the agreement of the parties) or perform the drilling, completion or other operation on such well in exchange for an ownership interest in an oil Oil and Gas Property, in each case not relating to or gas propertyarising from borrowed money;
Appears in 3 contracts
Samples: First Supplemental Indenture (GMX Resources Inc), Intercreditor Agreement (GMX Resources Inc), Indenture (GMX Resources Inc)
Production Payments and Reserve Sales. (2) any obligation of a Person in respect of a farm-in agreement or similar arrangement whereby such Person agrees to pay all or a share of the drilling, completion or other expenses of an exploratory or development well (which agreement may be subject to a maximum payment obligation, after which expenses are shared in accordance with the working or participation interest therein or in accordance with the agreement of the parties) or perform the drilling, completion or other operation on such well in exchange for an ownership interest in an oil or gas propertyOil and Gas Property;
Appears in 3 contracts
Samples: Indenture (Alta Mesa Holdings, LP), Third Lien Senior Secured Term Loan Agreement (Alta Mesa Holdings, LP), Indenture (Alta Mesa Energy LLC)
Production Payments and Reserve Sales. (2ii) any obligation of a Person in respect of a farm-in agreement or similar arrangement whereby such Person agrees to pay all or a share of the drilling, completion or other expenses of an exploratory or development well (which agreement may be subject to a maximum payment obligation, after which expenses are shared in accordance with the working or participation interest therein or in accordance with the agreement of the parties) or perform the drilling, completion or other operation on such well in exchange for an ownership interest in an oil or gas property;
Appears in 2 contracts
Samples: Credit Agreement (Atp Oil & Gas Corp), Credit Agreement (Atp Oil & Gas Corp)
Production Payments and Reserve Sales. (2k) any obligation of a Person in respect of a farm-in agreement or similar arrangement whereby such Person agrees to pay all or a share of the drilling, completion or other expenses of an exploratory or development well (which agreement may be subject to a maximum payment obligation, after which expenses are shared in accordance with the working or participation interest therein or in accordance with the agreement of the parties) or perform the drilling, completion or other operation on such well in exchange for an ownership interest in an oil or gas property;
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