AMI Acreage definition

AMI Acreage means a Lease or Interest acquired by either Participants or Burlington after the date of this Agreement.
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AMI Acreage has the meaning set forth in Section 5.1(b).
Sample 1
AMI Acreage means all government sections within which Seller owns Leases at the time of the Closing, and all contiguous and cornering government sections thereto, but specifically excluding all of Sections 2 and 5 of Township 7 North, Range 60 West, 6th P.M. All acquisitions after the date hereof of leases within the AMI by the parties hereto shall be governed by the provisions of AMI Agreement. attached hereto as Appendix 5 and incorporated herein.
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Examples of AMI Acreage in a sentence

  • If any AMI Acreage is acquired through a farmout agreement, exploration agreement or any other agreement that requires a well to be drilled in order to earn a Lease or Interest in the particular AMI Acreage, then any party who elects not to participate in the first well drilled under such agreement will forfeit any and all rights to earn any AMI Acreage acquired under such farmout or exploration agreement.

  • Participants shall pay, within thirty (30) days from receipt of an invoice, 50% of the bonus monies paid for the acquisition of the AMI Acreage.

  • Burlington shall have the option to acquire 50% of the AMI Acreage acquired by Participants in any such Lease or Interest, proportionately reduced to the Lease or Interest acquired, by paying their 50% share of the bonus costs associated with the acquisition of the AMI Acreage acquired.

  • In the event Burlington should acquire any AMI Acreage covering land within the AMI, Burlington shall promptly notify Participants in writing of the acquisition of such AMI Acreage.

  • Failure by Burlington to respond within the above-specified 30-day period shall be deemed an election by Burlington not to acquire their proportionate part of the AMI Acreage described in the said notice.

  • Should Burlington elect to acquire its interest, such AMI Acreage shall be assigned free of any Subsequently Created Burdens or any reservations or exceptions in excess of the Lease Burdens provided for in the Lease or burdening such Interest on the date such were acquired by Participants.

  • Participants shall have the option to acquire 50% of the AMI Acreage acquired by Burlington in any such Lease or Interest, proportionately reduced to the Lease or Interest acquired, by paying their 50% share of the bonus costs associated with the acquisition of the AMI Acreage acquired.

  • Burlington shall pay, within thirty (30) days from receipt of an invoice, 50% of the bonus monies paid for the acquisition of the AMI Acreage.

  • Failure by Participants to respond within the above-specified 30-day period shall be deemed an election by Participants not to acquire their proportionate part of the AMI Acreage described in the said notice.

  • Should Participants elect to acquire its interest, such AMI Acreage shall be assigned free of any Subsequently Created Burdens or any reservations or exceptions in excess of the Lease Burdens provided for in the Lease or burdening such Interest on the date such were acquired by Burlington.

Related to AMI Acreage

  • Acreage means the number of acres of land area of an Assessor's Parcel as shown on an Assessor's Parcel Map, or if the land area is not shown on an Assessor’s Parcel Map, the Board may rely on the land area shown on the applicable final map, parcel map, condominium plan, or other recorded County parcel map.

  • Subject Lands means the lands subject to or covered by the oil and gas leases described in Exhibit A, insofar and only insofar as they cover the Target Formation, subject to the exceptions, exclusions and reservations set forth on such Exhibit A.

  • Undeveloped Land means (i) all undeveloped land existing on or acquired after the Issue Date and (ii) any operating property of the Company or any Subsidiary that is subject to a casualty event that results in such property ceasing to be operational.

  • Subject Interests means Assignor’s undivided interests in the Subject Lands, as determined prior to giving effect to this Conveyance (or as may be made part of the Subject Interests pursuant to Section 3.1 or 3.2 of the Development Agreement), whether as lessee under leases, as an owner of the Subject Minerals (or the right to extract such Minerals) or otherwise, by virtue of which undivided interests Assignor has the right to conduct exploration, drilling, development and Mineral production operations on the Subject Lands, or to cause such operations to be conducted, or to participate in such operations by paying and bearing all or any part of the costs, risks and liabilities of such operations, to drill, test, complete, equip, operate and produce xxxxx to exploit the Minerals. The “Subject Interests” (a) may be owned by Assignor pursuant to leases, deeds, operating, pooling or unitization agreements, orders or any other instruments, agreements or documents, recorded or unrecorded, (b) include any and all extensions or renewals of leases covering the Subject Lands (or any portion thereof) obtained by Assignor, or any Affiliate thereof, within six (6) months after the expiration or termination of any such lease, and (c) are subject to the Permitted Encumbrances. For the avoidance of doubt, the “Subject Interests” do not include: (i) Assignor’s interests in the Excluded Assets; (ii) Assignor’s rights to substances other than Minerals; (iii) Assignor’s rights to Minerals (other than Assignee Minerals) under contracts for the purchase, sale, transportation, storage, processing or other handling or disposition of Minerals; (iv) Assignor’s interests in, or rights to Minerals (other than Assignee Minerals) held in pipelines, gathering systems, storage facilities, processing facilities or other equipment or facilities, other than Development Xxxxx; or (v) any additional or enlarged interests in the Development Xxxxx, Subject Lands or Subject Minerals acquired by Assignor after the Closing Time, except (1) to the extent any such additional or enlarged interest becomes a part of the Subject Interests by amendment to this Conveyance pursuant to Section 3.1 or 3.2 of the Development Agreement, (2) as may result from the operation of the terms of the instruments creating the Subject Interests, or (3) as may be reflected in extensions and renewals covered by the preceding sentence.

  • Lands means the purchase of real property or interest in real property.

  • Water well means an excavation that is drilled, cored, bored, augered, washed, driven, dug, jetted, or otherwise constructed for the purpose of exploring for groundwater, monitoring groundwater, utilizing the geothermal properties of the ground, or extracting water from or injecting water into the aquifer. “Water well” does not include an open ditch or drain tiles or an excavation made for obtaining or prospecting for oil, natural gas, minerals, or products mined or quarried.

  • Net Acres means, as computed separately with respect to each leasehold, (a) the number of gross acres in the lands covered by such leasehold, multiplied by (b) the undivided percentage interest in oil, gas and other minerals covered by such leasehold in such lands, multiplied by (c) Producer’s working interest or undivided interest in such leasehold.”

  • Oil and Gas Interests means: (a) direct and indirect interests in and rights with respect to oil, gas, mineral and related properties and assets of any kind and nature, direct or indirect, including, without limitation, working, royalty and overriding royalty interests, mineral interests, leasehold interests, production payments, operating rights, net profits interests, other non-working interests, contractual interests, non-operating interests and rights in any pooled, unitized or communitized acreage by virtue of such interest being a part thereof; (b) interests in and rights with respect to Hydrocarbons and other minerals or revenues therefrom and contracts and agreements in connection therewith and claims and rights thereto (including oil and gas leases, operating agreements, unitization, communitization and pooling agreements and orders, division orders, transfer orders, mineral deeds, royalty deeds, oil and gas sales, exchange and processing contracts and agreements and, in each case, interests thereunder), and surface interests, fee interests, reversionary interests, reservations and concessions related to any of the foregoing; (c) easements, rights-of-way, licenses, permits, leases, and other interests associated with, appurtenant to, or necessary for the operation of any of the foregoing; (d) interests in oil, gas, water, disposal and injection xxxxx, equipment and machinery (including well equipment and machinery), oil and gas production, gathering, transmission, compression, treating, processing and storage facilities (including tanks, tank batteries, pipelines and gathering systems), pumps, water plants, electric plants, gasoline and gas processing plants, refineries and other tangible or intangible, movable or immovable, real or personal property and fixtures located on, associated with, appurtenant to, or necessary for the operation of any of the foregoing; and (e) all seismic, geological, geophysical and engineering records, data, information, maps, licenses and interpretations.

  • Gas well means a well producing gas or natural gas from a common source of gas supply as determined by the commission.

  • Horizontal well means a well bore drilled laterally at an angle of at least eighty (80) degrees to the vertical or with a horizontal projection exceeding one hundred (100) feet measured from the initial point of penetration into the productive formation through the terminus of the lateral in the same common source of supply.

  • AMI means Area Median Income as defined by HUD.

  • Deep well means a well located and constructed in such a manner that there is a continuous layer of low permeability soil or rock at least 5 feet thick located at least 25 feet below the normal ground surface and above the aquifer from which water is to be drawn.

  • Project Area means land or lands located within the incentive

  • Project Land means any parcel or parcels of land on which the project is developed and constructed by a promoter;

  • Shallow well means a well located and constructed in such a manner that there is not a continuous layer of low-permeability soil or rock (or equivalent retarding mechanism acceptable to the department) at least 5 feet thick, the top of which is located at least 25 feet below the normal ground surface and above the aquifer from which water is to be drawn.

  • Oil well means any well capable of producing oil or oil and casinghead gas from a common source of supply as determined by the commission.

  • exploration area means that part of the Area allocated to the Contractor for exploration, described in schedule 1 hereto, as the same may be reduced from time to time in accordance with this contract and the Regulations;

  • Leasehold Interests means all of each Loan Party’s right, title and interest in and to, and as lessee of, the premises identified as leased Real Property on Schedule 4.4 hereto.

  • Exploration Well means a well that is not a development well, a service well or a stratigraphic test well.

  • Oil and Gas Leases means all leases, subleases, licenses or other occupancy or similar agreements (including any series of related leases with the same lessor) under which a Person leases, subleases or licenses or otherwise acquires or obtains rights to produce Hydrocarbons from real property interests.

  • JOA means the joint operating agreement currently in force in respect of operations pursuant to a Licence and identified as such in Schedule 1;

  • Subject Assets is defined in Section 2.2(c).

  • Forest land means all land which is capable of supporting a merchantable stand of timber and is not being actively used for a use which is incompatible with timber growing. Forest land does not include agricultural land that is or was enrolled in the conservation reserve enhancement program by contract if such agricultural land was historically used for agricultural purposes and the landowner intends to continue to use the land for agricultural purposes in the future. For small forest landowner road maintenance and abandonment planning only, the term "forest land" excludes the following:

  • Subject Interest has the meaning assigned to such term in the recitals.

  • Test Well means a well constructed for the purpose of obtaining information needed to design a well prior to its construction. Test wells are cased and can be converted to observation or monitoring wells and under certain circumstances to production wells

  • Area of Interest means the area described in Part 2 of Exhibit A.