Examples of Participating Area in a sentence
The effective date of any Participating Area established after the commencement of actual production of Unitized Substances shall be the first of the month in which is obtained the knowledge or information on which the establishment of said Participating Area is based, unless a more appropriate effective date is proposed by the Unit Operator and approved by the authorized officer.
Said schedule (or schedules) shall also set forth the percentage of Unitized Substances to be allocated, as herein provided, to each tract in the Participating Area (or Areas), and shall govern the allocation of production, commencing with the effective date of the Participating Area.
Exhibits must be prepared for each Participating Area established in the Unit Area.
The Initial PA shall contain the leases listed as the Initial Participating Area on Exhibit C.
One-eighth (1/8) of the revenue realized from the sale of such owner’s share of production from the Exploratory Well, and any subsequent well that is proposed on the applicable Participating Area under the terms of the Unit Operating Agreement and in which such owner elects not to participate, shall be paid to such mineral interest owner from the date of first production at the times and in the manner prescribed by law for the payment of royalty.