Farmout Lands definition

Farmout Lands means the lands described as such in Schedule “A”;

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Farmout Lands means the areal, stratigraphic and substance rights described as “Farmout Lands” in Schedule “A” of the Agreement or so much of those rights as remain subject to the Agreement and the Title Documents, excluding any Reserved Formations;

Farmout Lands in Schedule ”A” to the Farmout Agreement, provided that the “Farmout Lands” shall not include the 6.5 Section Block (as defined in the Farmout Agreement) unless or until Deep Well or Northern acquire a legal or beneficial interest in the Title Documents (as defined in the Farmout Agreement) that comprise the 6.5 Section Block;

Examples of Farmout Lands in a sentence

• If the interest of either party in the Farmout Lands hereafter shall become encumbered by any royalty, production payment or other charge of a similar nature, other than the royalties as set forth under the Farmout Agreement, such royalty, production payment or other charge shall be charged to and paid entirely by the party whose interest is or becomes thus encumbered.

• During the term of this Agreement, no party shall do or cause to be done any act nor make or cause to be made any omission whereby the Farmout Lands or Option Lands become encumbered in such a way as to adversely affect the interests of the other parties, or become subject to termination or forfeiture.

• The Grantor makes no representation or warranties as to its or Farmor's title to the Farmout Lands and Option Lands but covenants that they are encumbered only to the extent noted in the Farmout Agreement.

• If the Operator elects to Spud a substitute Earning Well on the Farmout Lands it shall provide notice of its intention, which notice shall include a description of the proposed location, the proposed date of Spudding, and an updated authority for expenditure with respect to the costs of drilling and setting of casing or abandonment of the Earning Well.

• The Operator will Abandon that well subject to Article 4, provided that the first sentence of Clause 4.1 will not apply if the Farmor and Farmee earn an interest in the Farmout Lands by virtue of a substitute well.

More Definitions of Farmout Lands

Farmout Lands means the lands identified on Schedule “A” hereto as “Farmout Lands”

Farmout Lands means the Farmor's net interest in and to the minerals owned by Farmor which are set forth in Exhibit "A" attached hereto and made a part hereof which may be amended or modified from time to time hereafter by mutual agreement in writing exclusively. Farmout lands shall be subject to modification and adjustments based upon GPS survey and future agreements of the parties.

Farmout Lands means the lands set forth and described in Schedule "A" hereto;

Farmout Lands means the lands and rights described on Schedule "A" hereto in which Farmee may earn an interest pursuant to this Agreement;

Farmout Lands means Farmor’s working interest in all Petroleum and Natural Gas Rights in the lands as described in Schedule “A” attached hereto;

Farmout Lands means the lands set forth and described in the Farmout Agreement;

Farmout Lands means those oil and gas leased lands including the zones and formations within, upon or under the lands set forth in Exhibit "A" "Lands and/or Leased Lands" means the land legally described in the Operating Agreement including such other lands or leased lands as may be included by virtue of the operation of the AMI.