Reasonably Prudent Operator Standard definition
Reasonably Prudent Operator Standard means the standard of conduct of a reasonably prudent oil and gas operator in the AMI under the same or similar circumstances, acting with respect to its own property and disregarding the existence of the Royalty Interest as a burden on such property.
Reasonably Prudent Operator Standard means the standard of conduct of a reasonably prudent oil and gas operator under the same or similar circumstances, acting with respect to its own property and disregarding the existence of the Royalty Interest as a burden on such property.
Reasonably Prudent Operator Standard means the standard of conduct of a reasonably prudent oil and gas operator in the Appalachian Basin under the same or similar circumstances, acting with respect to its own property and disregarding (a) the existence of the Net Profits Interest as a burden on such property and (b) the direct or indirect negative effect, financial or otherwise, on Assignor or any Affiliate of Assignor that may result from the performance by the purchaser of its obligations under the Gas Purchase Contract.
Examples of Reasonably Prudent Operator Standard in a sentence
As to those Leases and ▇▇▇▇▇ for which Assignor is not the operator, Assignor shall vote its working interests and any other voting interests and exercise its rights with respect thereto under applicable operating or unit operating agreements in accordance with the Reasonably Prudent Operator Standard.