Designated Well definition

Designated Well means a well (whether or not operated by the Company) designated by the Compensation Committee, in its sole discretion, to be included in this Plan. The Company may drill wells (whether or not operated by the Company) that will not become a Designated Well.

Designated Well means a well (whether or not operated by the Company) that is designated by the Compensation Committee, in its sole discretion, to be included in this Plan. The Company may drill wells (whether or not operated by the Company) that will not become a Designated Well. Notwithstanding anything herein to the contrary, no additional wells may be designated by the Compensation Committee as Designated Wells under the Plan on or after the Effective Time.

Designated Well means the well to be drilled in the Operating Area and specified in Appendix A;

Examples of Designated Well in a sentence

• The Company retains the unconditional right at any time, in its sole discretion, to suspend production from, shut-in or abandon any Designated Well, which may be included in any Bonus Pool.

• Though the Company may hold a Designated Well, which has been designated for a given Bonus Pool, neither the Plan nor the Bonus Pool creates any claim, lien, encumbrance, right, title or other interest of any kind whatsoever in any Participant or Participant Group in any well, property or portion of a property containing such well or in the Net Profits derived from it.

• The Company may drill wells (whether or not operated by the Company) that will not become a Designated Well.

• The Compensation Committee will issue to each Participant a "Notice of Bonus", within fifteen (15) working days after the drilling spud date of each Designated Well.

• Operator shall provide Contractor with a copy of Operator’s drilling program, and any other information reasonably requested in writing by Contractor, reasonably in advance of the spud date of each Designated Well to be drilled hereunder.

• CC rentals – new policy needed – Renters only to come in on the date they rented, no more time to set up unless they want to pay for that day too – Action needed5.

• Though the Company may hold a Designated Well, which has been designated for a given Bonus Pool, neither the Plan nor the Bonus Pool creates any claim, lien, encumbrance, right, title or other interest of any kind whatsoever in the Trust in any well, property or portion of a property containing such well or in the Net Profits derived from it.

• If, after blasting has been conducted, the water quality of a Designated Well has changed to a status which does not meet the Board of Health standards for potable water, then the Applicant/Owner shall be completely responsible for rectifying the impacted water quality situation of the Designated Well to ensure the well once again meets the Board of Health standards for potable water.

• The value of such equipment shall be determined by agreement between Contractor and Operator as current repair cost or the current new replacement cost of such equipment delivered to the Designated Well location.

• With respect to that Designated Well, the maximum Designated Percentage would be 1%.

More Definitions of Designated Well

Designated Well means any well designated by Operator to be drilled, tested, completed or, as necessary, plugged and abandoned by Contractor in accordance with the terms and conditions of this Drilling Contract, including any sidetrack or re-drill or re-completion thereof.