Contract Depth definition

Contract Depth means a depth sufficient to penetrate fifteen metres (15 m) into the Paleozoic formation or nine hundred and fifty meters (950 m) subsurface, whichever first occurs;

Contract Depth means a depth sufficient to penetrate 25 meters into the Muskeg formation or 2650m true vertical depth, whichever shall first occur;

Contract Depth means a depth sufficient to test the through the Ellenberger formation (5,000 feet xx xxxx).

Examples of Contract Depth in a sentence

• Notwithstanding the provisions of paragraph 3 with respect to the depth to be drilled, the Partnership shall have the right to direct the stoppage of the work to be performed by the Contractor hereunder at any time prior to reaching the Contract Depth and even though Contractor has made no default hereunder.

• Notwithstanding the provisions of paragraph 3 with respect to the depth to be drilled, the Managing General Partner shall have the right to direct the stoppage of the work to be performed by the Contractor hereunder at any time prior to reaching the Contract Depth and even though Contractor has made no default hereunder.

• Notwithstanding the provisions of paragraph 3 with respect to the depth to be drilled, the Joint Venture shall have the right to direct the stoppage of the work to be performed by the Contractor hereunder at any time prior to reaching the Contract Depth and even though Contractor has made no default hereunder.

• Farmee shall continuously and diligently drill the Option Well to Contract Depth and complete, cap or abandon same at its sole cost, risk and expense.

• Drilling of the Initial Test Well shall thereafter continue in a workmanlike manner to Contract Depth with the option to drill the Initial Test Well or subsequent wells to a deeper depth.

More Definitions of Contract Depth

Contract Depth means a mmnnum total vertical depth of 900 meters into the BakkenFormation or a total measured depth of 1950m subsurface, whichever shall first occur; (b) "Effective Date" means February 2, 20 12;

Contract Depth means a depth sufficient to penetrate 15 metres into the Upper Manville Clearwater Group or approximately 600 metres subsurface, whichever is shallower.

Contract Depth means a depth sufficient to penetrate thirty (30) meters into the Xxxxx formation or a depth of Four Thousand and fifty (4,050) meters subsurface, whichever shall be the lesser. “Earning Well” means the well to be drilled at 14 of 9-38-9-W5M. “Farmin Interest” means two percent (2.000%) Farmin cost interest Farmee has agreed to pay with respect to the drilling of the Earning Well. “Farmout Lands” means the lands and leases more particularly described in Schedule “A” attached hereto.

Contract Depth means a depth of at least 500 meters, which is the minimum depth sufficient to validate the Farmout Lands

Contract Depth. - means the lesser of:

Contract Depth means a measured subsea depth of 450 metres or 15 metres below the base of the Medicine Hat formation, whichever occurs first;

Contract Depth means a depth sufficient to penetrate thirty (30) meters into the Xxxxx formation or a depth of Four Thousand and fifty (4,050) meters subsurface, whichever shall be the lesser.