Working and Net Revenue Interests. 1. With respect to each of the oil and gas leases and wxxxx described in Exhibit “A,” Debtor’s share of development and operating costs with respect to the portion of the Land covered thereby as described in Exhibit “A”, without regard to pooling and unitization, is not greater than the “Working Interest” or “WI” specified in Exhibit “A”; and Debtor’s share of the gross production of all oil, gas and other Hydrocarbons produced, saved and marketed from said Land, without regard to pooling and unitization, is no less than the “Net Revenue Interest” or “NRI” specified in Exhibit “A”.
Appears in 3 contracts
Samples: Financing Statement and Fixture Filing (Recovery Energy, Inc.), And Fixture Filing (Recovery Energy, Inc.), And Fixture Filing (Recovery Energy, Inc.)
Working and Net Revenue Interests. (1. ) With respect to each of the oil and gas leases and wxxxx xxxxx described in Exhibit “A,” ”, Debtor’s share of development and operating costs with respect to the portion of the Land covered thereby as described in Exhibit “A”, without regard to pooling and unitization, is not greater than the “Working Interest” or “WI” specified in Exhibit “A”; and Debtor’s share of the gross production of all oil, gas and other Hydrocarbons produced, saved and marketed from said Land, without regard to pooling and unitization, is no less than the “Net Revenue Interest” or “NRI” specified in Exhibit “A”.
Appears in 2 contracts
Samples: Mortgage, Security Agreement (Lilis Energy, Inc.), Mortgage, Security Agreement (Recovery Energy, Inc.)
Working and Net Revenue Interests. (1. ) With respect to each of the oil and gas leases and wxxxx described in Exhibit “A,” ”, Debtor’s share of development and operating costs with respect to the portion of the Land covered thereby as described in Exhibit “A”, without regard to pooling and unitization, is not greater than the “Working Interest” or “WI” specified in Exhibit “A”; and Debtor’s share of the gross production of all oil, gas and other Hydrocarbons produced, saved and marketed from said Land, without regard to pooling and unitization, is no less than the “Net Revenue Interest” or “NRI” specified in Exhibit “A”.
Appears in 1 contract
Samples: Mortgage, Security Agreement (Recovery Energy, Inc.)