Successful Well definition

Successful Well means [•];
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Successful Well means a well determined by the MMS (or meeting the requirements of the MMS without a written determination) to be a producible well pursuant to 30 CFR Part 250, Subpart A, or any successor regulation, for Leases located in Federal offshore waters, as used in Articles 3, 4 and 5 or if actually completed for production by a Party hereto or Co-Working Owner.
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Successful Well means a well determined by the Minerals Management Service (or meeting the requirements of the Minerals Management Service without a written determination as mutually agreed by the Parties) to be a producible well pursuant to 30 CFR Part 250, Subpart A, or any successor regulation, for the (Lease(s) located in Federal offshore waters, as used in Articles 3, 4 and 5 and if actually completed for. production by a Party hereto.
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Examples of Successful Well in a sentence

  • In the event of a Successful Well, the RSM Unit will establish the Success Fee for which the Beneficiary will be obligated to pay pursuant to the terms and conditions of the Beneficiary Agreement.

  • Should Ridgewood choose not to include the new prospect under the terms of this Agreement, Chevron will have the right and option to drill or cause to be drilled the prospect and exclude the acreage associated with this prospect from this Agreement limited to the deepest depths drilled in such well if such well is a Successful Well.

  • The Beneficiary shall make a Success Fee payment within [•] days from a written notice by the RSM Unit that a well is a Successful Well, in compliance with the terms of this Beneficiary Agreement.

  • The Beneficiary shall make a Success Fee payment within 30 (thirty) Business Days from a written notice by the RSM Unit that a well is a Successful Well, in compliance with the terms of this Beneficiary Agreement.


More Definitions of Successful Well

Successful Well means that the well meets the agreed upon Success Criteria as measured during well testing;
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