Appraisal Well definition

Appraisal Well means a Well drilled pursuant to an Appraisal Programme.

Appraisal Well means any well (other than an Exploration Well or a Development Well) whose purpose at the time of commencement of drilling such well is to appraise the extent or the volume of Hydrocarbon reserves contained in an existing Discovery.

Appraisal Well means any Well drilled after a Discovery of Petroleum has been made in the Licence Area for purposes of determining the quantity of Petroleum in the Petroleum Reservoir to which such Discovery relates;

Examples of Appraisal Well in a sentence

• Following the completion of drilling such Appraisal Well as an Exclusive Operation, the Parties may proceed with the Development Plan approved pursuant to Article 5.9, or (if applicable) the Parties may complete the procedures to propose an Exclusive Operation to develop a Discovery.

• Contract Area Unsuccessful Exploration and Appraisal Costs mean those Operating Costs incurred anywhere in the Contract Area in connection with the drilling of any Exploration Well or Appraisal Well in the Contract Area which does not result in a Commercial Discovery.

• If, as the result of drilling such Appraisal Well as an Exclusive Operation, the Party or Parties proposing to develop the Discovery decide(s) not to do so, then each Non-Consenting Party who voted in favor of such Development Plan prior to the drilling of such Appraisal Well shall pay to the Consenting Party the amount such Non-Consenting Party would have paid had such Appraisal Well been drilled as a Joint Operation.

• Within _________ (__) days of the selection of the substitute Operator, the substitute Operator shall propose the drilling of an identical Appraisal Well (except for any necessary modifications resulting from a change in the drilling rig to be utilized by the substitute Operator), and it shall commence drilling operations on that well within _________ (___) days after the end of the period for the approval of that Well.

• If a former Non-Participating Party becomes a Participating Party in more than one approved Sidetracking or Deepening in the same Appraisal Well, that former Non-Participating Party shall become an Underinvested Party only with regard to the first Sidetracking or Deepening it approves; however, that Underinvestment shall not be relieved by an Underinvested Party’s subsequent participation.

More Definitions of Appraisal Well

Appraisal Well means a Well drilled following a Commercial Well to delineate the physical extent of the accumulation penetrated by such Commercial Well, and to estimate the accumulation reserves and probable Production rates.

Appraisal Well means a well drilled for the purpose of evaluating the commerciality of a geological trap in which Petroleum has been discovered.

Appraisal Well means a petroleum well to test the potential of one (1) or more natural underground reservoirs for producing or storing petroleum. For clarity, an appraisal well does not include an exploration well.

Appraisal Well means a well that is drilled to delineate one or more Petroleum reservoirs to which a Discovery relates in terms of thickness and lateral extent and in order to further define the quantity and quality of recoverable Petroleum therein.

Appraisal Well means any well whose purpose at the time of commencement of drilling such well is the determination of the extent or the volume of Hydrocarbon reserves contained in an existing Discovery.

Appraisal Well means a well drilled principally to define more accurately the extent or nature of a previously discovered oil or gas accumulation:

Appraisal Well means any well drilled after discovery of petroleum in a contract area for purpose of ascertaining the quantity and areal extent of petroleum in the petroleum reservoir to which that discovery relates;