Drilling Costs means all expenditures whether directly or indirectly incurred during Exploration and Development for well drilling, completing and reworking operations including, but not limited to, labour, geological design, engineering and other Subcontractors (including all fees, tariffs and charges payable to any such Subcontractors), material and equipment consumed or lost, perforation, formation testing, cementing, well-logging and transportation.

Drilling Costs means the actual cost, expense, risk and liability incurred or accrued in the drilling of a well to the objective depth, including all costs incurred for preparing the location, drilling operations and evaluation of a well at its total depth. Drilling Costs as used herein shall also include all plugging, abandonment and environmental mitigation costs associated with a well should the Parties elect to plug and abandon a well.

Drilling Costs means all costs incurred in connection with the drilling, deepening, reentering, sidetracking, plugging back, testing, completing, recompleting and equipping of a well and the plugging and abandoning of a well drilled as a dry hole. This term includes, but is not limited to, (i) all title examination expenses, title curative costs, surveying costs, costs of pits, roads, water wells and water disposal wells and the cost of all site construction activities; (ii) all costs incurred for the settlement of damage claims and the costs of restoring the well site in accordance with applicable governmental and/or lease requirements; and (iii) all costs (including overhead charges) that are chargeable to a working interest owner under the Accounting Procedure in connection with any of the operations or activities described above.

Examples of Drilling Costs in a sentence

American Petroleum Institute, Independent Petroleum Association of America, Mid-Continent Oil & Gas Association, Joint Association Survey on 2014 Drilling Costs, December 2015.
If U.S. withholding applies, COMPANY will withhold amounts on its payments to CONTRACTOR as required under US law, unless CONTRACTOR provides COMPANY with the appropriate documentation to mitigate the TAX.2.5 Requirements Pertaining to Intangible Drilling Costs COMPANY may be able to claim the Intangible Drilling Cost deduction under Section 263(c) of the United States Internal Revenue Code of 1986 for SCOPE purchased under the CONTRACT.
Section Description 9.7 Conflicts 9.8 Claims and Proceedings vi Other Schedules Schedule Description 3.2(a)(ii) Drilling Costs PURCHASE AND SALE AGREEMENT This Purchase and Sale Agreement (this “Agreement”), dated as of July 10, 2012 (the “Execution Date”), is by and among Unit Petroleum Company, an Oklahoma corporation (“Purchaser”) Unit Corporation, an Delaware corporation (“Guarantor”) and Noble Energy, Inc., a Delaware corporation (“Seller”).
Email exchanges between Michael Ratner of CRS and API staff, citing data aggregated in API’s 2009 Joint Association Survey (JAS) on Drilling Costs, May 3, 2011.
Acceptable Drilling Costs used for Calculating RSM Pay-outApplications for RSM coverage will be considered once the applicant has identified optimal locations for exploration wells and drilling targets at depth.

More Definitions of Drilling Costs

Drilling Costs means all costs and expenses related to (a) the preparation for drilling and then the drilling and equipping of a well up and to Casing Point, and (b) all activities associated with plugging and abandoning a well in which Completion operations have not been attempted. Without limitation of the generality of the foregoing, Drilling Costs shall include all costs associated with (i) clearing and building a location and creating or improving access to such location (e.g., by building roads), (ii) setting surface casing, and (iii) logging and testing the well prior to the commencement of Completion operations.

Drilling Costs means and refer to the costs and expenses of conducting the drilling operations for a particular well, as such costs and expenses are determined under the Operating Agreement.

Drilling Costs means, with respect to an Acquired Well, all costs and expenses for title opinions, surveying, staking, permitting, and preparing the well location, setting conductor pipe, setting surface casing, and drilling, testing, completing, and equipping the well through the tanks or production flow lines, or plugging and abandoning the well as a dry hole.

Drilling Costs with respect to a Test Well shall mean the costs of drilling up to the casing point and all pre-drilling activities associated therewith (including, without limitation, the costs of seismic data, preparing the location, title opinions as well as all other typical pre-drilling costs incurred by operators in similar circumstances).

Drilling Costs means all costs and expenses (including all costs and expenses associated with the procurement of an appropriate drilling or other rig and the necessary labor, equipment, materials, mud and chemicals, casing, cement, water, and fuel) incurred by Participant in connection with the performance of Drilling Operations in a Drilled Phase I Well hereunder.

Drilling Costs means expenditures incurred during Exploration and Development for well drilling and completing operations including, but not limited to labour, geophysical works, engineering-technical and other contractors, expenses on various materials, perforation, formation development, cementing, well-logging and transportation, also all taxes that are included in cost recovery under Georgian Law.

Drilling Costs has the meaning given to such term in the 2007 Canadian Association of Petroleum Landmen 2007 Operating Procedure.