Oil & Gas Interests definition

Oil & Gas Interests has the meaning set forth in the definition of Oil & Gas Assets.
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Oil & Gas Interests shall have the meaning set forth in Section 2.1(a)(i).
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Oil & Gas Interests means all of SELLER's interest in those certain Lease(s) and other oil and gas leasehold estates or interests, as such interests are set forth in Exhibit "1a", together with SELLER's ownership interest in the well(s), platforms, facilities, gathering systems, pipelines and pipeline laterals located on the Leases, and the contract rights, associated rights, easements, proprietary data, and business records, located on or associated with the Leases, all as described in Section 2.1 below.
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Examples of Oil & Gas Interests in a sentence

  • All references hereafter in this Agreement to the Leases, or to any other Oil & Gas Interests (as defined in the APA), shall be deemed to be limited, where a depth would be applicable, to the Operating Right Depths.

  • PURCHASER represents that it has had the opportunity to perform due diligence on the Oil & Gas Interests that PURCHASER wishes to purchase, which includes physical inspection(s), environmental assessment(s), reviewing well data and other files, and performing all necessary tasks involved in evaluating the Oil & Gas Interests.

  • Such access shall be limited to information for the twelve-month periods ending December 31, 2015, December 31, 2016 and December 31, 2017, and the three-month periods ending March 31, 2017 and March 31, 2018, to the extent that the Oil & Gas Interests were owned by that Seller and that exists in Seller’s offices.

  • SELLER shall deliver possession of the Oil & Gas Interests to PURCHASER at the Closing.

  • Each of the Sellers hereby waives their UOA Pref Rights only with respect to the transaction contemplated in this Agreement, provided that if BOEM/BSEE fails to provide its consent and the Oil & Gas Interests are reassigned pursuant to Section 4.6(b), then the waiver by the Sellers of their UOA Pref Rights shall expire, be terminated and each Seller shall again be holders of such rights as they apply in accordance with the terms of the UOA.

  • Upon PURCHASER's completion of its Closing obligations, SELLER shall deliver to PURCHASER, exclusive possession of the Oil & Gas Interests as of the Closing.

  • The date when SELLER ceases to assist in the operation of the Oil & Gas Interests shall be referred to hereafter as the "Termination Date".

  • PURCHASER and SELLER understand that neither SELLER nor PURCHASER has the requisite information with which to determine the exact condition of the Oil & Gas Interests nor the effect any such use has had on the physical condition of the Oil & Gas Interests.

  • All ad valorem, property, production, excise, severance, windfall profit and similar taxes and assessments payable with respect to the Oil & Gas Interests and based on or measured by the ownership of property or the production or removal of hydrocarbons or the receipt of proceeds therefrom have been and will be timely paid in all respects.

  • In this regard, PURCHASER specifically acknowledges that NORM may affix or attach itself to the inside of wellbores, materials and equipment as scale or in other forms, and that wellx, xxterials and equipment comprising the Oil & Gas Interests and being located on a Lease may contain NORM and that NORM containing materials may have been disposed of on a Lease.


More Definitions of Oil & Gas Interests

Oil & Gas Interests. Means all of Seller’s interest in those certain Leases and other oil and gas leasehold estates or interests, as set forth in Exhibit 1, together with Seller’s ownership and other interests in rights of way, wxxxx, platforms, facilities, the Bud Pipeline, pipeline laterals and other property located on the Leases, or an easement on another lease and related exclusively to the Leases, all as described in Section 2.1, but excluding the Excluded Assets described in Section 2.2.
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Oil & Gas Interests. Means the following, other than Excluded Assets:
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Oil & Gas Interests means all of SELLER's interest in the Leases and other oil and gas leasehold estates or interests, as set forth in Exhibit "1", together with SELLER's ownership or other interest in the well(s) located on the Lease(s) and other rights and interests described in Section 2.1 below.
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Oil & Gas Interests means all right, title and interest of Parent in and to, or otherwise derived from (a) any of the Leases (including without limitation any ratifications or amendments thereto, whether or not described in Section 4.14.1 of the Parent Diligence Letter); (b) any of the Wxxxx, to the extent such right, title and interest is attributable to the Leases; (c) all Units relating to the Leases or the Lands, to the extent such right, title and interest is attributable to the Leases; and (d) any and all Leases and Wxxxx acquired by Parent during the Interim Period, including without limitation those assets set forth in Section 6.3.11 of the Parent Diligence Letter, and each of such Leases and Wxxxx is hereby incorporated by reference into and made a part of this Agreement for all purposes.
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Related to Oil & Gas Interests

  • Excluded Equity Interests means, collectively: (i) any Equity Interests in any Subsidiary with respect to which the grant to the Collateral Agent, for the benefit of Lenders and the other Secured Parties, of a security interest in and Lien upon, and the pledge to the Collateral Agent, for the benefit of Lenders and the other Secured Parties, of, such Equity Interests, to secure the Obligations (and any guaranty thereof) are validly prohibited by Requirements of Law; (ii) any Equity Interests in any Subsidiary with respect to which the grant to the Collateral Agent, for the benefit of Lenders and the other Secured Parties, of a security interest in and Lien upon, and the pledge to the Collateral Agent, for the benefit of Lenders and the other Secured Parties, of, such Equity Interests, to secure the Obligations (and any guaranty thereof) require the consent, approval or waiver of any Governmental Authority or other third party and such consent, approval or waiver has not been obtained by Borrower following Borrower’s commercially reasonable efforts to obtain the same; (iii) any Equity Interests in any Subsidiary that is a non-Wholly-Owned Subsidiary that the grant to the Collateral Agent, for the benefit of Lenders and the other Secured Parties, of a security interest in and Lien upon, and the pledge to the Collateral Agent, for the benefit of Lenders and the other Secured Parties, of, such Equity Interests, to secure the Obligations (and any guaranty thereof) are validly prohibited by, or would give any third party (other than Borrower or an Affiliate of Borrower) the right to terminate its obligations under, the Operating Documents or the joint venture agreement or shareholder agreement with respect to, or any other contract with such third party relating to such non-Wholly-Owned Subsidiary, including any contract evidencing Indebtedness of such non-Wholly-Owned Subsidiary (other than customary non-assignment provisions which are ineffective under Article 9 of the Code or other Requirements of Law), but only, in each case, to the extent, and for so long as such Operating Document, joint venture agreement, shareholder agreement or other contract is in effect; (iv) any Equity Interests in any other Subsidiary with respect to which, Borrower and the Collateral Agent reasonably determine by mutual agreement that the cost (including Tax costs) of granting the Collateral Agent, for the benefit of Lenders and the other Secured Parties, a security interest in and Lien upon, and pledging to the Collateral Agent, for the benefit of Lenders and the other Secured Parties, such Equity Interests, to secure the Obligations (and any guaranty thereof) are excessive, relative to the value to be afforded to the Secured Parties thereby.