Drilling Business definition

Drilling Business means the land drilling business undertaken by the Sale Group and activities as are reasonably incidental to the business undertaken by the Sale Group such as the provision of accommodation, catering and transport services;
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Drilling Business means the business of owning, leasing, managing or operating drilling rigs, which drilling rigs and associated crews are contracted or hired by third parties for the purpose of drilling oil and gas xxxxx. For purposes of determining if a Change of Control of the Company has occurred, any person owning less than 10% of the voting securities or other equity interests in the Company shall be excluded from the analysis under the preceding subclause (i) of this Section 4.7.
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Drilling Business means (i) the drilling for oil, gas or other hydrocarbons, whether offshore or onshore, and whether as an agent or principal, and (ii) any business relating to or arising from drilling for oil, gas or other hydrocarbons, including, without limitation, the rental of drill pipe, tools or other equipment.
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Examples of Drilling Business in a sentence

  • As used herein, the term "Drilling Business" shall mean the business of owning, leasing, managing or operating drilling rigs, which drilling rigs and associated crews are contracted or hired by third parties for the purpose of drilling oil and gas xxxxx.

  • Except as set forth on Schedule 2(f), since June 30, 1996 there has not been any change in the conduct of the ongoing business operations of the Contract Drilling Business that would, individually or in the aggregate, have a Material Adverse Effect (other than those changes affecting the oil and gas industry or the drilling and workover segment thereof in general).

  • For the purposes hereof, a "Change of Control of the Company" shall be deemed to have occurred if any person or group of persons that are directly or indirectly actively engaged, in whole or in part, in the Drilling Business (as hereinafter defined) acquire, directly or indirectly, (i) the power to direct or cause the direction of the management or policies of the Company.

  • Seller shall pay, when due, all obligations (including obligations to suppliers, employees and contractors) relating to the Drilling Business conducted by it prior to Closing as well as all obligations relating to its performance of any drilling contract pursuant to the terms of this Agreement.

  • All taxes owed by Seller or relating to the Drilling Business, the Assets or the Real Property have been paid, and Seller has filed all federal, state and other tax returns and reports required to be filed.

  • As such, the books and records of Seller relating to the Drilling Business shall be maintained by Seller for a period of two years from the date of Closing.

  • It is expressly understood that Seller, prior to the execution of this Agreement, has made available to the Purchaser, true and correct copies of (i) all Ancillary Agreements and Support Agreements in effect as of the Effective Date, (ii) certificates of insurance with respect to all insurance policies held by Seller, and (iii) any lawsuit, demand, order or other complaint relating to the Seller or the Drilling Business.

  • Seller’s Drilling Business constitutes a separate and identifiable business of Seller and the income and expenses attributable to Seller’s Drilling Business could be separately established from the books of account or records of Seller.

  • Seller shall pay when due, its obligations relating to the Drilling Business, including its obligations to employees, suppliers and contractors.

  • The lists of contracts and agreements identified on Schedules 1(c), (d) and (e) are complete and accurate lists of all contracts and agreements between Seller and any other person related to the Seller’s Drilling Business.


More Definitions of Drilling Business

Drilling Business means the drilling services provided by the Seller, including assets related to such services but only to the extent such assets are solely used to provide such services.
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Related to Drilling Business

  • Doing business means engaging in any activity, whether legal or illegal, that is conducted

  • Remaining Business means all IAC Businesses other than the Spun Businesses.

  • Competing Business means any business, individual, partnership, firm, corporation or other entity which wholly or in any significant part engages in any business competing with the Business in the Restricted Area. In no event will the Company or any of its affiliates be deemed a Competing Business.

  • banking business means the business of accepting deposits withdrawable or repayable on demand or after a fixed period or after notice and the employment of those deposits, in whole or in part, by lending or any other means for the account and at the risk of the person accepting the deposits;

  • Qualifying business means a business which establishes a qualifying project in this state and which is certified by the Department of Economic Opportunity to receive tax credits pursuant to this section.

  • Company Business means the business of the Company as presently conducted.

  • Drilling operations means the drilling of an oil and gas well and the production and completion operations ensuing from the drilling which require entry upon the surface estate and which were commenced after June 30, 1979, and oil and gas geophysical and seismograph exploration activities commenced after June 30, 1983.

  • home business means a business, service or profession carried out in a dwelling or on land around a dwelling by an occupier of the dwelling which —

  • Micro Business means a company which either:

  • Core Business means any material line of business conducted by the Company and its Subsidiaries as of the Closing Date and any business directly related thereto.

  • Generation Business means the licensed business (if any) of the Licenseeand any affiliate or related undertaking of the Licensee in the generation of electricity or the provision of Ancillary Services;

  • the Business means the usual work and activities carried on by the Insured pertaining to his business as specified in the Schedule and no others.

  • Restricted business operations means business operations in Sudan that include power production activities, mineral extraction activities, oil-related activities, or the production of military equipment, as those terms are defined in the Sudan Accountability and Divestment Act of 2007 (Pub. L. 110-174). Restricted business operations do not include business operations that the person (as that term is defined in Section 2 of the Sudan Accountability and Divestment Act of 2007) conducting the business can demonstrate—

  • Cannabis business means any business activity involving cannabis, including but not limited to cultivating, transporting, distributing, manufacturing, compounding, converting, processing, preparing, storing, packaging, delivering, testing, dispensing, retailing and wholesaling of cannabis, of cannabis products or of ancillary products and accessories, whether or not carried on for gain or profit.

  • Subject Business means the policy or policies that are the subject of the Insurance Business Transfer Plan.

  • Business operations means engaging in commerce in any form, including by acquiring, developing, maintaining, owning, selling, possessing, leasing, or operating equipment, facilities, personnel, products, services, personal property, real property, or any other apparatus of business or commerce.

  • Supply Business means the licensed business of the Licensee and anyaffiliate or related undertaking of the Licensee as a Supplier but shall not include the business carried out by the Board in its capacity as public electricity supplier;

  • Retained Business means any business now, previously or hereafter conducted by Seller or any of its Subsidiaries or Affiliates other than the Business.

  • Refinery means a facility used to produce motor fuel from crude oil, unfinished oils, natural gas liquids, or other hydrocarbons and from which motor fuel may be removed by pipeline, by marine vessel, or at a rack.

  • food business means any undertaking, whether for profit or not and whether public or private, carrying out any of the activities related to any stage of production, processing and distribution of food;

  • drilling means the act of boring a hole to reach a proposed bottom hole location through which oil or gas may be produced if encountered in paying quantities, and includes redrilling, sidetracking, deepening, or other means necessary to reach the proposed bottom hole location, testing, logging, plugging, and other operations necessary and incidental to the actual boring of the hole;