Subject Formation means the geologic formation (or formations) covered by or subject to any Lease the base of which is below 18,000 feet true vertical depth subsea (measured from sea level, whether onshore or offshore), but shall not include (i) perforated intervals shallower than 18,000 feet true vertical depth subsea (measured from sea level, whether onshore or offshore), or (ii) as respects OCS 0310, depths shallower than the salt or salt weld as seen in the South Xxxxx Island Block 217 No. 234 Well (which are deeper than 18,000 feet true vertical depth subsea measured from sea level).
Subject Formation means for each Company Well, the currently producing formation for such Company Well, and for each Company Lease, as applicable, the 3rd Bone Spring, the Wolfcamp A, and the Wolfcamp B, in each case, as designated for such Company Lease on Annex B, and subject to any depth restrictions set forth therein for such Company Lease.
Subject Formation means for each Subject Well and Undeveloped Lease with a positive Allocated Value, the depths and formations shown on Exhibit X-0, Xxxxxxx X-0 or Exhibit A-3, as applicable, for such Subject Well or Undeveloped Lease, or if not specified for such Subject Well and Undeveloped Lease on Exhibit X-0, Xxxxxxx X-0 or Exhibit A-3, as applicable, the depths and formations within the Xxxxxx Pool defined as that stratigraphic equivalent interval lying between 50 feet above the Upper Xxxxxx Shale, down to the top of the Birdbear formation, as found in the Linseth 13-12HW Pilot Hole (API #33-053-03693-00) located in Section 24, Township 149 North, Range 95 West, drilled by WPX Energy Williston LLC, spud on May 3, 2012, and drilled to a total depth of 11,390 feet TVD and logged with a Gamma Ray tool, with the stratigraphic pool limit defined from the Gamma Ray log as 10,878 feet TVD down to 11,268 feet TVD beneath the surface of the earth.
Examples of Subject Formation in a sentence
The “Allocated Value” means (i) for each applicable Subject Formation for each Well listed on Annex A-2, the dollar value set forth on Annex A-2 for such Well, and (ii) for each applicable Subject Formation for each Lease listed on Annex A-1, the dollar value set forth on Annex A-1 for such Lease.
More Definitions of Subject Formation
Subject Formation means for each Well and Undeveloped Lease, the stratigraphic equivalent of that certain subsurface interval from the top of the Bone Spring Formation to 250’ feet below the top of the Wolfcamp B Formation, as seen at the measured depths of 7,848’ and 10,473’, respectively, as illustrated in the well log for the Xxxxxxx Xxxxxx Xxxx 28-27 1H Well (API# 42-371-39206), attached on Schedule 1.1(c).
Subject Formation means, (i) for each Acquired Well listed on Exhibit A-2, the Codell and Niobrara formations, and any formations from which that Acquired Well is producing at the Execution Date, and (ii) in the case of any Acquired Lease (or portion thereof) listed on Exhibit A-1 which has a positive Allocated Value, the Codell and Niobrara formations.
Subject Formation means, as to each Purchased Lease and Purchased Well, the depths, productive formations, strata or horizons specified for such Purchased Lease or Purchased Well set forth in Exhibit A-1 or Exhibit A-2, as applicable.
Subject Formation means, for the Subject Interests, Grantor's interest in the geologic formation (or formations) as described on Exhibit A.
Subject Formation means for each Well and Undeveloped Lease, the stratigraphic equivalent of that certain subsurface interval from the top of the Bone Spring Formation to 250’ feet below the top of the Wolfcamp B Formation, as seen at the measured depths of 7,848’ and 10,473’, respectively, as illustrated in the well log for the Brigham Lethco Neal 28-27 1H Well (API# 42-371-39206), attached on Schedule 1.1(c).
Subject Formation means, subject to any exceptions or exclusions as noted on Exhibit A-2 or Exhibit A-3 as to any applicable Well or DSU:
Subject Formation means, with respect to a Property, any formation or formations from which the Property is producing Hydrocarbons as of the Original Execution Date.