Examples of Exploration Well in a sentence
If any obligatory Exploration Well is abandoned due to insurmountable technical problems as set out in Article 3.2.1 (b), (c) and (d) and, at the time of such abandonment, the Exploration Costs for such Well have equaled or exceeded [insert amount] Dollars ($[insert amount]), for all purposes of this Contract, the Contractor shall be deemed to have fulfilled the minimum work obligations for the relevant period.
Contract Area Unsuccessful Exploration and Appraisal Costs mean those Operating Costs incurred anywhere in the Contract Area in connection with the drilling of any Exploration Well or Appraisal Well in the Contract Area which does not result in a Commercial Discovery.
If the Contractor conducts a formation test in any Exploration Well, it shall notify the Minister at least ten (10) Days prior to the commencement of the formation test.
If, during drilling of an Exploration Well and prior to reaching the targeted depth, drilling problems are encountered which, after all reasonable efforts (in accordance with good practices generally observed in the international petroleum industry) have been made to drill deeper, render further drilling of the said Exploration Well impossible, impractical or unsafe, Contractor may plug and abandon or complete the well and the work obligation for such well shall be deemed fulfilled.
No Exploration Well drilled by PanAfrican Tanzania shall be treated as discharging any obligation of PanAfrican Tanzania to drill Exploration Xxxxx hereunder unless it has been drilled to fully penetrate the Neocomian sands.