Identified Development Drilling definition

Identified Development Drilling means all drilling and completing, or plugging and abandoning (after a determination that a well is not a Commercial Well), of a Production Partnership Well drilled by or on behalf of the Production Partnership to a reservoir on a Lease or an offset Lease constituting all or a portion of a Producing Property or the recompletion of an existing Production Partnership Well, where (i) the drilling or recompletion of such Production Partnership Well commences after the acquisition of such Producing Property by the Production Partnership and is conducted in order to commence production of Hydrocarbons from Proved Undeveloped Reserves identified in the Acquisition Reserve Report or Engineering Audit Letter prepared in connection with such Producing Property, (ii) the costs of development of the Proved Undeveloped Reserves were taken into account in such Acquisition Reserve Report or Engineering Audit Letter in valuing such Proved Undeveloped Reserves attributable to such Producing Property, and (iii) a portion of the cost paid by the Production Partnership for such Producing Property is attributed by such Acquisition Reserve Report or Engineering Audit Letter to such Proved Undeveloped Reserves. The term, Identified Development Drilling, shall also refer to any Production Partnership Wells drilled or recompleted on a Pxxxxxing Property subsequent to the initial Identified Development Drilling conducted on such Producing Property in order to commence production of Hydrocarbons from Proved Undeveloped Reserves (in addition to those identified in the related Acquisition Reserve Report or Engineering Audit Letter) which have been categorized by the Managing Partner as Proved Undeveloped Reserves by virtue of production obtained from prior Identified Development Drilling conducted on such Producing Property. Any reference to costs incurred in connection with Identified Development Drilling shall include the interest, commitment fees and other financing charges and expenses of Production Partnership borrowings incurred to finance Identified Development Drilling.
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Examples of Identified Development Drilling in a sentence

  • All fees and payments to the General Partner required by Section 4.12B, Commissions and costs incurred in connection with Identified Development Drilling (including any interest, commitment fees and other finance charges with respect to borrowing incurred in connection therewith) and Property Acquisition Costs will be charged 99% to the Unit Holders and 1% to the General Partner.

  • The Partnership shall not conduct any drilling of xxxxx other than Development Drilling and Identified Development Drilling; provided, however, that the drilling of xxxxx other than Development Drilling and Identified Development Drilling may be performed on behalf of the Partnership pursuant to Farmouts or when such drilling may be deemed necessary or appropriate to preserve or protect the Partnership's interest in or the production from a Producing Property.

  • The Managing Partners may not expend any amount of Production Partnership funds over the term of the Production Partnership for the payment of Production Partnership costs (other than recompletion costs) incurred in connection with Development Drilling and Identified Development Drilling in excess of 10% of the amount of the Limited Partners' capital contributions to the Limited Partnership and the Production Partnership borrowings.

  • The Production Partnership shall not conduct any drilling of wells other than Development Drillixx xxd Identified Development Drilling; provided, however, that the drilling of wells other than Development Drixxxxx and Identified Development Drilling may be performed on behalf of the Production Partnership pursuant to Farmouts.

  • The Partnership shall not conduct any drilling of wells other xxxx Development Drilling and Identified Development Drilling; provided, however, that the drilling of wells other xxxx Development Drilling and Identified Development Drilling may be performed on behalf of the Partnership pursuant to Farmouts or when such drilling may be deemed necessary or appropriate to preserve or protect the Partnership's interest in or the production from a Producing Property.

  • The Partnership shall not conduct any drilling of wells other than Xxxxlopment Drilling and Identified Development Drilling; provided, however, that the drilling of wells other thax Xxvelopment Drilling and Identified Development Drilling may be performed on behalf of the Partnership pursuant to Farmouts or when such drilling may be deemed necessary or appropriate to preserve or protect the Partnership's interest in or the production from a Producing Property.

  • The Partnership shall not conduct any drilling of wells other xxxx Development Drilling and Identified Development Drilling; provided, however, that the drilling of wells other xxxn Development Drilling and Identified Development Drilling may be performed on behalf of the Partnership pursuant to Farmouts or when such drilling may be deemed necessary or appropriate to preserve or protect the Partnership's interest in or the production from a Producing Property.

  • The General Partner may not expend any amount of Partnership funds over the term of the Partnership for the payment of Partnership costs (other than recompletion costs) incurred in connection with Development Drilling and Identified Development Drilling in excess of 10% of the sum of: (i) the amount of the Unit Holders' Subscriptions, plus (ii) the Partnership's permissible borrowings.

  • Rescheduling of January Meeting Due to January 21 being a holiday, the January meeting was rescheduled to January 16.

  • The Production Partnership shall not conduct any drilling of wells other than Development Drillixx xxd Identified Development Drilling; provided, however, that the drilling of wells other than Development Drillxxx xnd Identified Development Drilling may be performed on behalf of the Production Partnership pursuant to Farmouts.

Related to Identified Development Drilling

  • Planned development means a real property development other than a community apartment project, a condominium project, or a stock cooperative, having either or both of the following features:

  • Transit-oriented development means infrastructure improvements that are located within 1/2 mile of a transit station or transit-oriented facility that promotes transit ridership or passenger rail use as determined by the board and approved by the municipality in which it is located.

  • Infill development means new construction on a vacant commercial lot currently held as open space.

  • Research and development facility means an establishment engaged in laboratory, scientific, or experimental testing and development related to new products, new uses for existing products, or improving existing products. The term does not include an establishment engaged in efficiency surveys, management studies, consumer surveys, economic surveys, advertising, promotion, banking, or research in connection with literary, historical, or similar projects.

  • site development plan means a dimensioned plan drawn to scale that indicates details of the proposed land development, including the site layout, positioning of buildings and structures, property access, building designs and landscaping;

  • Initial Development Plan has the meaning set forth in Section 3.2(b).

  • Integrated Development Plan means a plan formulated and approved as envisaged in Section 25 of the Municipal Systems Act 2000, as amended.

  • Economic development project means land and existing or planned improvements suitable for use by an industrial or commercial enterprise, or housing development, or the protection of the environment, including, but not limited to, groundwater or surface water. Economic development project includes necessary buildings, improvements, or structures suitable for and intended for or incidental to use as an industrial or commercial enterprise or housing development; and includes industrial park or industrial site improvements and port improvements or housing development incidental to an industrial or commercial enterprise; and includes the machinery, furnishings, and equipment necessary, suitable, intended for, or incidental to a commercial, industrial, or residential use in connection with the buildings or structures.

  • Cluster development means a contiguous cluster or

  • Commercial Development Plan means the written commercialization plan attached as Appendix E.

  • spatial development framework means the Mhlontlo Municipal Spatial Development Framework prepared and adopted in terms of sections 20 and 21 of the Act and Chapter 2 of this By-Law;

  • Residential Development means lands, buildings or structures developed or to be developed for residential use;

  • Economic development means all powers expressly granted and reasonably inferred pursuant to SDCL § 9-54.

  • Existing development means development, other than that associated with agricultural or forest management activities, that meets one of the following criteria:

  • Development Area means that area to which a development plan is applicable.

  • Michigan economic development corporation means the public body corporate created under section 28 of article VII of the state constitution of 1963 and the urban cooperation act of 1967, 1967 (Ex Sess) PA 7, MCL 124.501 to 124.512, by a contractual interlocal agreement effective April 5, 1999, as amended, between local participating economic development corporations formed under the economic development corporations act, 1974 PA 338, MCL 125.1601 to 125.1636, and the Michigan strategic fund. If the Michigan economic development corporation is unable for any reason to perform its duties under this act, those duties may be exercised by the Michigan strategic fund.

  • land development area means an erf or the land which is delineated in an application submitted in terms of this By-law or any other legislation governing the change in land use and “land area” has a similar meaning;

  • Development Location Point means a single point selected by the Applicant on the proposed Development site that is located within 100 feet of a residential building existing or to be constructed as part of the proposed Development. For a Development which consists of Scattered Sites, this means a single point on the site with the most units that is located within 100 feet of a residential building existing or to be constructed as part of the proposed Development.

  • Research and development means (1) theoretical analysis, exploration, or experimentation; or (2) the extension of investigative findings and theories of a scientific or technical nature into practical application for experimental and demonstration purposes, including the experimental production and testing of models, devices, equipment, materials, and processes. Research and development does not include the internal or external administration of radiation or radioactive material to human beings.

  • Development Site means any parcel or lot on which exists or which is intended for building development other than the following:

  • municipal spatial development framework means a municipal spatial development framework adopted by the Municipality in terms of Chapter 5 of the Municipal Systems Act;

  • Global Development Plan has the meaning set forth in Section 3.1.

  • Economic Development Property means those items of real and tangible personal property of the Project which are eligible for inclusion as economic development property under the FILOT Act and this Fee Agreement, and selected and identified by the Company or any Sponsor Affiliate in its annual filing of a SCDOR PT-300S or comparable form with the Department (as such filing may be amended from time to time) for each year within the Investment Period.

  • land development application means the application for a land development permit on a form provided by [local jurisdiction] along with the supporting documentation required in Section [Y]-10(a).

  • experimental development means acquiring, combining, shaping and using existing scientific, technological, business and other relevant knowledge and skills with the aim of developing new or improved products, processes or services. This may also include, for example, activities aiming at the conceptual definition, planning and documentation of new products, processes or services;

  • Individual development account means a contract between an account holder and a fiduciary organization, for the deposit of funds into a financial institution by the account holder, and the deposit of matching funds into the financial institution by the fiduciary organization, to allow the account holder to accumulate assets for use toward achieving a specific purpose approved by the fiduciary organization.