Exploration and Development Costs definition

Exploration and Development Costs means, with respect to any Prospect or Prospects, and without duplication, all direct, capital costs actually incurred by Company Group in connection with exploration and development of such Prospect or Prospects, including, without limitation, all costs incurred in preparing for drilling, drilling, testing, completing, equipping (including, without limitation, installation of platforms, facilities and pipelines and dry hole costs) and recompleting well▇, ▇▇l geological and geophysical costs, and all leasehold costs (including bonus, delay rentals and all other costs of acquiring and maintaining in force the leases, or portions thereof or undivided interests therein, included in such Prospects). Exploration and Development Costs shall not include lease operating expenses or general and administrative expenses of the Company Group.

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Exploration and Development Costs of the Wells means all actual third party direct costs and expenses incurred or paid with respect to the Wells, including but not limited to (a) location costs, costs of drilling, re-entering (excluding any Wells that have been previously produced under this Agreement), logging, testing, completing, fracing and equipping such Well(s) for production including flow-lines, tanks, flow meters and other equipment located on the drilling unit, (b) that portion of drilling rate overhead charges allocated to such Well(s) under the applicable JOA, and (c) costs of plugging and abandoning and surface restoration for any such well completed as a dryhole, explicitly excluding Operating Costs

Exploration and Development Costs means the cumulative total of all deemed or actual costs, expenditures, liabilities, obligations and charges incurred by the Owner in connection with exploration work and development work (but only where such costs associated with development work are not already included as Capital Expenditures) performed on the Properties;

Examples of Exploration and Development Costs in a sentence

Production Costs are expenditures incurred on Production Operations after the start of production from the Field (which are other than Exploration and Development Costs).
Production Costs are expenditures of revenue nature incurred on Production Operations after the start of production from the Field (which are other than Exploration and Development Costs).
Production Costs are expenditures incurred for Production Operations after the start of production from the Field (which are other than Exploration and Development Costs).
Exploration and Development Costs with respect to each Test Well shall be calculated in accordance with the terms and provisions of the accounting procedure included in the operating agreement applicable to the Prospect.
On or before sixty (60) days after completion of a Test Well, AEC shall furnish the Vendors a statement of all Exploration and Development Costs with respect to such well.
Production Costs are expenditures incurred on Production Operations in respect of the Contract Area after the start of production from the Development Area (which are other than Exploration and Development Costs).
Production Costs are expenditures incurred on Production Operations in respect of a Field/ Development Area after the start of production from the Field/Development Area (which are other than Exploration and Development Costs).
In the Event Gross Active Section 7(i) Revenues are recognized, all unamortized Exploration and Development Costs (plus accrued, undeducted interest thereon) attributable to the Section 7(i) Resource sold shall be Active Section 7(i) Costs for the Fiscal Year of the sale unless the sale is an installment sale.
The definition of “Well Cap” is hereby amended so that the following sentence is added to the end of the definition: Notwithstanding the foregoing, the Parties agree that ZaZa will pay its proportionate share of all costs, including but not limited to Exploration and Development Costs.

More Definitions of Exploration and Development Costs

Exploration and Development Costs of the ▇▇▇▇▇ means all actual third party direct costs and expenses incurred or paid with respect to the ▇▇▇▇▇, including but not limited to (a) location costs, costs of drilling, re-entering (excluding any ▇▇▇▇▇ that have been previously produced under this Agreement), logging, testing, completing, fracing and equipping such Well(s) for production including flow-lines, tanks, flow meters and other equipment located on the drilling unit, (b) that portion of drilling rate overhead charges allocated to such Well(s) under the applicable JOA, and (c) costs of plugging and abandoning and surface restoration for any such well completed as a dryhole, explicitly excluding Operating Costs

Exploration and Development Costs means the cumulative total of all deemed or actual costs, expenditures, liabilities, obligations and charges incurred by BMR in connection with exploration work and development work performed on the Mineral Property;

Exploration and Development Costs of the ▇▇▇▇▇ means all actual third party direct costs and expenses incurred or paid with respect thereto, including but not limited to (a) costs of drilling, re-entering, logging, testing, completing, and equipping