Substitute Well. If during the drilling of the ITW, LLOG encounters impenetrable substances or conditions, including loss of hole due to mechanical difficulties, which in the opinion of a reasonably prudent operator under the same or similar conditions, would render further drilling impracticable or hazardous and the condition prevents further drilling of the ITW, LLOG may commence a “Substitute Well”, provided the drilling operations on such Substitute Well are commenced within one hundred eighty (180) days after release of the drilling rig from the ITW. However, with respect to such Substitute Well, the Promote Cap applicable to the original AFE shall not be adjusted upward in the event the cumulative costs of the ITW and the Substitute Well, as the case may be, exceed the original Promote Cap.
Appears in 4 contracts
Samples: Participation Agreement (Ridgewood Energy T Fund LLC), Participation Agreement (Ridgewood Energy W Fund LLC), Participation Agreement (Ridgewood Energy Y Fund LLC)
