SELLER'S RESERVATIONS. 5.1 Seller hereby expressly reserves unto itself, it successors and assigns, the following rights with respect to its interests in the oil and gas properties committed by Seller to Buyer hereunder together with sufficient gas produced therefrom to satisfy such rights:
a. To operate Seller's oil and gas properties free from any control by Buyer in such manner as Seller, in Seller's sole discretion, may deem advisable, including, without limitation the right, but never the obligation, to drill new xxxxx, to repair and rework old xxxxx, renew or extend, in whole or in part, any oil and gas lease covering, in whole or in part, the oil and gas properties and to abandon any well or surrender any such oil and gas lease, in whole or in part, when no longer deemed by Seller to be capable of producing gas in paying quantities under normal methods of operation.
b. To pool, combine and unitize any of Seller's oil and gas properties with other properties of Seller and of others in the same field, and to alter such pooling, combination or units, in which event this Contract will cover Seller's allocated interest in unitized production insofar as such interest is attributable to the oil and gas properties committed hereunder. Seller shall give notice in writing to Buyer of any change contemplated by this Article as is deemed material to this Contract, and the description of property covered hereby shall be considered as having been amended accordingly.
SELLER'S RESERVATIONS. A. Seller reserves any and all rights not expressly conveyed to Buyer in the Assignment, including, without limitation, all existing xxxxx, equipment, facilities, and other personal property on or related to the Property; all of Seller's right, title and interest in and to all depths outside the Mississippi Formation; the right to drill and complete new xxxxx on the Leases for the production of Hydrocarbons from formations other than the Mississippi Formation: and all right, title and interest of Seller within the Mississippi Formation necessary to allow Seller to re-enter, workover, complete, re-complete, fracture treat, and produce Hydrocarbons from the Mississippi Formation in any well which has been drilled on the Leases (or on lands unitized therewith) prior to the execution of this Agreement (provided, however, Seller shall not convert an existing vertical well into a horizontal well targeting production from the Mississippi Formation). It is expressly understood and agreed that Seller shall not have the right to drill and complete xxxxx on any Lease for production of Hydrocarbons from the Mississippi Formation during the Primary Term, Extended Primary Term (as such term is hereinafter defined), or during the term of any Secondary Term Assignment (as such term is hereinafter defined) of such Lease.
B. As to Leases located in the State of Kansas, Seller shall except and reserve from the Assignment an overriding royalty interest in and to all Hydrocarbons produced from the Property equal to the positive difference, if any, obtained by subtracting leasehold burdens existing as of the Effective Date (as adjusted to reflect any change in leasehold burdens arising as a result of renewals or extensions effected thereafter) from: (i) twenty-two and one-half percent (22.5%) before Payout (as such term is hereinafter defined); (ii) twenty-five percent (25%) upon and after Payout, proportionately reduced to the extent Seller's working interest in the Leases assigned is less than 100%. As to Leases located in the State of Oklahoma, Seller shall except and reserve from the Assignment an overriding royalty interest in and to all Hydrocarbons produced from the Property equal to the positive difference, if any, obtained by subtracting leasehold burdens existing as of the Effective Date (as adjusted to reflect any change in leasehold burdens arising as a result of renewals or extensions effected thereafter) from twenty-five percent (25%), proportionately reduced to t...
SELLER'S RESERVATIONS. 4.1.1 To operate said Leases and/or Wxxxx free from control by BUYER in such manner as SELLER, in SELLER’s sole discretion, may deem advisable, including, without limitation, the right to drill new Wxxxx, to repair and rework old Wxxxx, and to abandon any Well or surrender any Lease when no longer deemed to be capable of producing Gas in commercial paying quantities under normal methods of operation by SELLER.
4.1.2 To unitize or pool any of the Leases or portions thereof with other Leases, in such event SELLER’s interest in the unit and the unit Gas attributable to SELLER’s interest shall be subject to and SELLER agrees to take all action necessary to commit such unit Gas attributable to SELLER’s interest to this Agreement.
4.1.3 To retain all liquids and Condensate separated from the Gas by the use of typical volumetric (non-refrigerated) oil and Gas separators prior to the delivery of the Gas to BUYER at the Receipt Point(s) specified herein.
SELLER'S RESERVATIONS. Seller reserves the right to deepen, rework, plug or perform any other work on the gas, wxxxx or property dedicated to Buyer herein at its sole discretion.
SELLER'S RESERVATIONS. Seller reserves the following rights (and reasonable quantities of Gas to satisfy same): (i) to operate xxxxx producing from the Committed Reserves as a reasonably prudent operator, (ii) to separate or process the Gas using only mechanical, ambient temperature equipment located at surface production facilities on the Subject Leases, (iii) to use Gas produced from the Committed Reserves for operating the xxxxx located thereon, (iv) to pool or unitize the Committed Reserves, in which event this Agreement shall cover Seller’s Interest therein, and (v) to process Gas delivered hereunder in the Rogersville Plant for the extraction of natural gas liquids under the Processing Agreement. In addition, Seller’s reservations also include the volumes of Gas sold under the Stand Contract, subject to the provisions of Section 3.6 and 3.7 below with regard thereto.
SELLER'S RESERVATIONS. 1. Seller reserves and excepts from the terms of this Agreement the following:
(a) All oil and condensate separated and saved by Seller.
SELLER'S RESERVATIONS. 5.1 Seller hereby expressly reserves unto itself, its successors and assigns, the following rights with respect to its interests in the oil and gas properties committed by Seller to Buyer hereunder together with sufficient gas produced therefrom to satisfy such rights:
a. To operate Seller’s oil and gas properties free from any control by Buyer in such manner as Seller, in Seller’s sole discretion, may deem advisable, including, without limitation the right, but never the obligation, to drill new wxxxx, to repair and rework old wxxxx, renew or extend, in whole or in part, any oil and gas lease covering, in whole or in part, the oil and gas properties and to abandon any well or surrender any such oil and gas lease, in whole or in part, when no longer deemed by Seller to be capable of producing gas in paying quantities under normal methods of operation.
b. To use gas produced from the oil and gas properties for developing and operating Seller’s oil and gas properties committed hereto in the field in which the gas is produced, for the operation of Seller’s pipelines, water stations, camps and other miscellaneous uses incident to the operation of such leases, and to fulfill obligations to Seller’s Lessors therein.
c. To pool, combine and unitize any of Seller’s oil and gas properties with other properties of Seller and of others in the same field, and to alter such pooling, combination or units, in which event this Contract will cover Seller’s allocated interest in unitized production insofar as such interest is attributable to the oil and gas properties committed hereunder. Seller shall give notice in writing to Buyer of any change contemplated by this Article as is deemed material to this Contract, and the description of property covered hereby shall be considered as having been amended accordingly.
SELLER'S RESERVATIONS. Seller reserves the following rights, together with, as applicable, commercially reasonable quantities of Gas to satisfy such rights: (i) to supply Gas to the owners of the oil and gas fee interest, leasehold or other oil and gas property interest (collectively, the "Property Interests") covering xxxxx upstream of the Receipt Point(s) to the extent such owners are entitled thereto under the terms of existing oil and gas Property Interests, (ii) to supply Gas from xxxxx upstream of the Receipt Point(s) for developing and operating the xxxxx and for the operation of facilities utilized for the sole purpose of delivering Gas from the xxxxx to Buyer at the Receipt Point(s), and (iii) to process the Gas prior to delivery to Buyer hereunder for the recovery of liquefiable hydrocarbons, provided that the Gas thereafter meets the Specifications provided for herein. The volume estimates set forth on the Confirmation assume Seller's exercise of the foregoing rights and represent Seller’s Daily Deliverability of Gas, after deduction therefore.
SELLER'S RESERVATIONS. 13.1 Seller hereby expressly reserves unto itself the following rights:
a. to operate Seller's Lands and Seller's Reserves free from any controls by Buyer and in such manner as Seller in its sole discretion may deem advisable consistent with good oilfield practice, including but not restricted to, the right to determine when and whether any additional well will be drilled, when and whether any well will be reworked or recompleted, when and whether any lease or well cannot or has ceased to produce gas in paying quantities having regard to Seller's cost of producing, processing and delivering such gas and when and whether any lease or well is to be released or abandoned or surrendered;
SELLER'S RESERVATIONS. This Agreement does not apply to, and Seller expressly excludes from this Agreement and reserves unto itself, its successors, and assigns, the following rights:
a. To operate the Landfill and Seller’s Collection System free from any control by Purchaser in such manner as Seller, in its sole discretion deems advisable, including without limitation, the right, but never the obligation, to drill new xxxxx, to rework and repair old xxxxx, to abandon any well, to build, test, modify extend repair, dispose or discontinue the use of any or all facilities owned or installed by Seller; and
b. To enter into any and all contracts with others necessary to Seller’s operations hereunder.
