Right to Operate. Working Interest Owners of any Tract that desire to take over and continue to operate xxxxx located thereon may do so by paying Unit Operator, for credit to the joint account, the net salvage value of the equipment in and on the xxxxx taken over as estimated by Working Interest Owners, and by agreeing to plug properly each well at such time as t is abandoned.
Appears in 2 contracts
Samples: Unit Operating Agreement (Resaca Exploitation, Inc.), Unit Operating Agreement (Resaca Exploitation, Inc.)
Right to Operate. Working Interest Owners of any Tract that desire to take over and continue to operate xxxxx located thereon may do so by paying Unit Operator, for credit to the joint accountJoint Account, the net salvage value of the casing and equipment in and on the xxxxx and platforms together with the Common Facilities which are taken over over, as estimated by Working Interest Owners, and by agreeing to plug properly each well at such time as t it is abandoned, remove platforms and restore the Unitized Land insofar as is practicable to its original conditions, as may be required by law.
Appears in 2 contracts
Samples: Unit Operating Agreement (Pacific Energy Resources LTD), Unit Operating Agreement (Pacific Energy Resources LTD)
Right to Operate. Working Interest Owners of any Tract that desire to take over and continue to operate xxxxx located thereon may do so by paying Unit Operator, for credit to the joint account, the net salvage value value, of the equipment casing and equipment, through the wellhead, in and on the xxxxx taken over as estimated by Working Interest Owners, and by agreeing upon abandonment to plug properly each well at such time as t is abandonedin compliance with applicable laws and regulations.
Appears in 1 contract
Samples: Unit Operating Agreement (Natural Gas Systems Inc/New)
