Spacing Unit definition

Spacing Unit means the area fixed for the drilling of one Well by order or rule of any applicable Governmental Authority, or (if no such order or rule is applicable) the area fixed for the drilling of a Well or Planned Well reasonably established by the pattern of drilling in the applicable area or otherwise established by Producer in its reasonable discretion.

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Spacing Unit means that area allocated to a well within the Field for the purpose of drilling for and/or producing oil and natural gas.

Spacing Unit means the area allocated to a Well (or the area which would be allocated to a well, but for a plan of unitization) pursuant to the Regulations for the purpose of producing Petroleum Substances; and

Examples of Spacing Unit in a sentence

• The Grantor shall thereafter give written notice to the Royalty Owner describing the extent to which the Royalty Lands are being pooled and describing the Spacing Unit with respect to which they are so pooled.

• Upon any such unitization, the Overriding Royalty shall be quantified on the basis of the production allocated to each Spacing Unit on the Royalty Lands under the plan of unitization and not upon the basis of actual production from the Royalty Lands.

• Further, each Spacing Unit for which production is allocated shall be deemed to have on Well thereon, regardless of the actual number of ▇▇▇▇▇.

• Further, each Spacing Unit for which production is allocated shall be deemed to have one Well thereon, regardless of the actual number of Wells.

• If either Party elects, or is deemed to have elected, not to participate in the drilling of the proposed well and if the proposing Party timely commences operations within the time specified in Sub-Article 8.1 hereof and drills such well to the depth specified in the proposal for such well, the Non- Participating Party shall be deemed to have forfeited and relinquished all right, title and interest as to the first test well drilled within each Drilling and Spacing Unit (“Exploratory Well”).

More Definitions of Spacing Unit

Spacing Unit means the area allocated from time to time to a well on, or in the vicinity of, the Leased Lands, for the purpose of drilling for or producing the Leased Substances, as defined or prescribed by or under the Regulations; and

Spacing Unit means the area allocated to a well under a well spacing order or rule. Under the Oil and Gas Act, Paragraph (10) of Subsection B of Section 70-2-12 NMSA 1978, the commission may fix spacing units without first creating proration units. See Rutter & Wilbanks corp. v. oil conservation comm’n, 87 NM 286 (1975). This is the area designated on form C-102.

Spacing Unit means a surface area and the subsurface beneath the surface area, established for the purpose of drilling for or producing oil and gas;

Spacing Unit means the area allocated to a well for the purpose of drilling for or producing petroleum;

Spacing Unit means the area allocated to a well for the purpose of producing oil and gas from a formation; (« surface unitaire »)

Spacing Unit means the drilling unit established for each Subject Well prior to the commencement of drilling operations, which drilling unit shall comply with any applicable rules and regulations of the Colorado Oil and Gas Conservation Commission and the relevant operating agreement.

Spacing Unit means the area allocated to a well for the purpose of drilling for or producing petroleum substances and, except as herein otherwise expressly provided, the subsurface regions vertically beneath such area comprising the spacing unit for such well prescribed by and under the laws of Canada now or hereafter in effect governing the spacing of oil or gas ▇▇▇▇▇, whichever the well may be and if no area be so allocated shall be one-quarter Northwest Territory section for oil and one Northwest Territory section for a gas well. CLAUSE B