Substitute Xxxxx. If any obligatory Exploration Well is abandoned due to insurmountable technical problems as set out in Article 3.2.1 (b), (c) and (d) and, at the time of such abandonment, the Exploration Costs for such Well have equaled or exceeded [insert amount] Dollars ($[insert amount]), for all purposes of this Contract, the Contractor shall be deemed to have fulfilled the minimum work obligations for the relevant period. If any obligatory Exploration Well is abandoned due to insurmountable technical problems, and if at the time of such abandonment, the Exploration Costs for such Well are less than [insert amount] Dollars ($[insert amount]) then the Contractor shall have the option to either:
Substitute Xxxxx. If any obligatory Exploration Well is abandoned due to events or problems as set out in Article 3.2.1(a), (b), (c) and (d) and, at the time of such abandonment, the Exploration Costs for such Well have equaled or exceeded thirty million Dollars ($30,000,000), for all purposes of this Contract, the Contractor shall be deemed to have fulfilled the Minimum Work Program obligations for the relevant period. If any obligatory Exploration Well is abandoned due to insurmountable technical problems, and if at the time of such abandonment, the Exploration Costs for such Well are less than thirty million Dollars ($30,000,000) then the Contractor shall have the option to either:
Substitute Xxxxx. If any well drilled under the terms of this Agreement fails to reach its objective depth, either because of mechanical difficulties or because the well encounters excessive water flow, loss of circulation, excessive pressures, cavities, salt or salt dome material, heaving shale or other practicably impenetrable conditions which would, in the opinion of a prudent operator, render further drilling impracticable, then the operator of such well may at its election commence actual drilling of a substitute well at approximately the same location with the same objective depth within 30 days after abandonment of the well being replaced and thereupon the substitute well should be considered and treated for all purposes as though it were the well for which it is a substitute.
Substitute Xxxxx. If any obligatory Exploratory Well is abandoned due to insurmountable technical problems as set out in Article 3.2.1, items (b), (c) and (d) and, at the time of abandonment, the Exploration Costs for that Well equal or exceed … million Dollars ($...MM), for all purposes of this Contract, the Contractor will be considered to have fulfilled its minimum work obligations for the period in question. If any obligatory Exploratory Well is abandoned due to insurmountable technical problems and if, at the time of abandonment, the Exploration Costs for that Well are less than … million Dollars ($...MM), the Contractor will choose between the following options:
Substitute Xxxxx. 3.1 If, prior to reaching Casing Point in the Initial Well, BP should encounter geological or mechanical conditions which render further operations impracticable or economically infeasible, in the sole reasonable opinion of BP, BP shall (i) give written notice of such occurrence to Company, and (ii) such notice shall state whether BP proposes to attempt to Complete the Initial Well in a shallower Zone or to abandon the Initial Well as a dry hole.
Substitute Xxxxx. 4.1. If Laramie has failed to earn an assignment under the terms of this Agreement because the applicable Earning Well failed to reach the required depth as a result of mechanical problems or impenetrable strata or other conditions in the hole which make further drilling impracticable, under generally accepted oil field practices, Laramie shall have the option, but not the obligation, to drill a substitute well subject to the following provisions:
Substitute Xxxxx. If, because of encountering impenetrable substances or because of other conditions making further drilling impracticable, Farmee may discontinue drilling any well under this Contract before reaching Contract Depth. Farmee shall have the right, but not the obligation, to drill a "substitute" well at a legal location on the same tract of acreage as the well it is to replace, provided the actual drilling of said substitute well is commenced not later than thirty (30) days after the abandonment of the Exploration Test Well or other well which it is to replace. If Farmee elects to commence a substitute well, it thereafter shall prosecute the drilling thereof to Contract Depth and complete said substitute well with due diligence. If a substitute well is drilled as herein provided, than Farmee shall be deemed to have complied with this Contract as if the substitute well had been an original well.
Substitute Xxxxx. In the event granite, salt, saltwater flow, heaving shale or other conditions, including either the loss of the hole or mechanical difficulties, are encountered in the drilling or completing of a Subject Well drilled pursuant to the terms of this Agreement which would render further operations impracticable in the opinion of El Paso, El Paso has the right but not the obligation under this Agreement to commence the actual drilling of a "Substitute Well", at a legal location to the same target objective as the Subject Well after the plugging and abandoning of the Subject Well during the period this Agreement is in place. Such Substitute Well shall become a Subject Well and any reference to the Subject Xxxxx shall include such Substitute Well.
Substitute Xxxxx. 10.1 In the event the East Unit Well, West Unit Well or the first Well located on Non-Unitized Acreage is not drilled to the Objective Depth due to Mechanical Difficulty or Gulf Coast Conditions, the Parties shall have the right, but not the obligation, to participate in another Well or Xxxxx in an effort to drill such Well or Xxxxx to the Objective Depth ("Substitute Well"), and the term "East Unit Well", "West Unit Well" and/or first "Non-Unitized Acreage Well" shall include the Substitute Well or Substitute Xxxxx. If any Party elects not to participate in a Substitute Well, Article VI.B.2 of the Operating Agreement shall not apply and such Party shall have forfeited to Beta, all rights, title and interests in and to the Leases within the East Unit, West Unit or Non-Unitized Acreage, as the case may be, provided, however:
Substitute Xxxxx. 16 11. Additional Consideration - State Leases............. 18 12. Indemnity........................................... 18 13. Assignment.......................................... 18 14. Reassignment........................................ 19
