Examples of Net Undeveloped in a sentence
Net Undeveloped Acreage 2022 Based on our current development plans, we expect to maintain substantially all of the core acreage that would otherwise expire during 2022 either through drilling and establishing production, making lease extension payments, or lease renewal efforts.
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Total Net Undeveloped Acreage Expiration In the event that production is not established or we take no action to extend or renew the terms of our leases, our net undeveloped acreage that will expire over the next three years as of December 31, 2021, is 1,265, 66 and 40, for the years ending December 31, 2022, 2023 and 2024, respectively.
For tables setting out a description of our drilling activities, well counts and acreage positions, see the information in Item 1 under Drilling Statistics, Productive Oil and Gas Wells and Gross and Net Undeveloped Acreage.
Total Net Undeveloped Acreage Expiration In the event that production is not established or we take no action to extend or renew the terms of our leases, our net undeveloped acreage that will expire over the next three years as of December 31, 2022, is 66, 40, and 0 for the years ending December 31, 2023, 2024 and 2025, respectively We expect to retain substantially all of our expiring acreage either through drilling activities, renewal of the expiring leases or through the exercise of extension options.
Gross and Net Undeveloped and Developed AcreageOur staff of professional geologists utilizes results from logs, seismic data and other tools to evaluate existing wells and to predict the location of economically attractive new natural gas and oil reserves.
For tables setting out a description of our drilling activities, well counts and acreage positions, please see the information in Item 1 under Drilling Statistics, Productive Oil and Gas Wells and Gross and Net Undeveloped Acreage.
Acreage in which our interest is limited to royalty and overriding royalty interests is excluded: Acreage Total Gross Net Developed Gross Net Undeveloped Gross Net Glasscock and Hutchinson County, Texas 4,138 776 We believe we have satisfactory title, in all material respects, to substantially all of our producing properties in accordance with standards generally accepted in the oil and natural gas industry.
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Through this process, the Mission has achieved a new standard of unity of purpose and dynamism, and has established an efficient mechanism for internal resource management.