Examples of Participating Area in a sentence
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.
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.
The Initial PA shall contain the leases listed as the Initial Participating Area on Exhibit C.
Exhibits must be prepared for each Participating Area established in the Unit Area.
Each such owner shall be bound by the terms of the Unit Operating Agreement both before and after recovery of such recoupment amount and also for purposes of proposals for and the conduct of any and all subsequent operations within the Unit, for so long as there is hydrocarbon production from within a Participating Area that includes the owner’s interests.