Relinquishment of Interest. Upon commencement of NON-CONSENT OPERATIONS, each NON-PARTICIPATING PARTY'S interest and leasehold operating rights in the NON-CONSENT OPERATION and title to production there from shall be owned by and vested in each PARTICIPATING PARTY in proportion to its PARTICIPATING INTEREST for as long as the operations originally proposed are being conducted or production is obtained, subject to Sections 12.2.1 and 12.2.2.
Appears in 4 contracts
Samples: Joint Operating Agreement (Ridgewood Enengy K Fund LLC), Joint Operating Agreement (Ridgewood Energy L Fund LLC), The Purchase and Sale Agreement (Primeenergy Corp)
Relinquishment of Interest. Upon commencement of NON-CONSENT OPERATIONS, each NON-PARTICIPATING PARTY'S interest and leasehold operating rights in the NON-CONSENT OPERATION and title to production there from therefrom shall be owned by and vested in each PARTICIPATING PARTY in proportion to its PARTICIPATING INTEREST for as long as the operations originally proposed are being conducted or production is obtained, subject to Sections 12.2.1 and 12.2.2.and
Appears in 2 contracts
Samples: Agreement (Beta Oil & Gas Inc), Agreement (Beta Oil & Gas Inc)
