Undeveloped acreage means lease acreage on which wells have not been drilled or completed to a point that would permit the production of commercial quantities of oil and natural gas regardless of whether such acreage contains proved reserves.
Undeveloped acreage means those leased acres on which wells have not been drilled or completed to a point that would permit the production of economic quantities of oil and gas, regardless of whether or not such acreage contains proved reserves. Terms used to assign a present value to or to classify our reserves:
Undeveloped acreage means those leased acres on which wells have not been drilled or completed to a point that would permit the production of economic quantities of oil and gas, regardless of whether or not such acreage contains proved reserves.
Examples of Undeveloped acreage in a sentence
Undeveloped acreage includes real estate that can be sold “as is” (i.e., no infrastructure or development work has begun on such property).
Undeveloped acreage includes net acres held by operations until a productive well is established in the spacing unit.
Undeveloped acreage includes real estate that can be sold “as is” (i.e., planning, infrastructure or development work is not currently in progress on such property).
Undeveloped acreage includes leased acres on which wells have not been drilled or completed to a point that would permit the production of commercial quantities of oil and natural gas, regardless of whether or not such acreage contains proved reserves.
Undeveloped acreage is defined as acres on which wells have not been drilled or completed to a point that would permit the production of commercial quantities of oil or natural gas, regardless of whether such acreage contains proved reserves.
More Definitions of Undeveloped acreage
Undeveloped acreage means those leased acres on which wells have not been drilled or completed to a point that would permit the production of economic quantities of crude oil and natural gas, regardless of whether or not such acreage contains proved reserves. Undeveloped acreage includes net acres under the bit until a productive well is established in the spacing unit.
Undeveloped acreage means acreage under lease on which wells have not been drilled or completed such that there is not production of commercial quantities of hydrocarbons;
Undeveloped acreage means any Land or other acreage not pooled, communitized or unitized with or otherwise committed to a “Unit”. “Units” shall have the meaning set forth in the definition of “Assets”.
Undeveloped acreage means the lands burdened by the Leases (or portions thereof) to the extent such lands are not included in any proration or drilling unit of any Well described on Part 1 of Exhibit A-2.
Undeveloped acreage means those leased acres on which wells have not been drilled or completed to a point that would permit the production of economic quantities of oil and gas, regardless of whether or not such acreage contains proved reserves.Our Properties We do not currently have title to any oil and gas properties, however, we hold an interest in an oil and gas company that holds oil and gas leases and we have a mineral rights agreement to acquire certain oil and gas leases as detailed below. CEC North Star Properties Land We are a 31.4% shareholder in North Star. North Star has 73 sections comprised of 46,720 acres of oilsands leases in the Manning area of northwestern Alberta. We hold an indirect interest in this project by virtue of our ownership in North Star. The following maps depict the North Star lands as located in the Province of Alberta and the North Star lands in relation to their locations in the township:
Undeveloped acreage has the meaning set forth in Section 2.04.
Undeveloped acreage includes (i) leasehold interests that already may have been classified as containing proved undeveloped reserves; and (ii) unleased mineral-interest acreage owned by the company. Excluded From the table is acreage in which Market Resources’ interest is limited to royalty, overriding-royalty and other similar interests. All leasehold acres are located in the U.S. DEVELOPED (1) UNDEVELOPED (2) TOTAL GROSS NET GROSS NET GROSS NET Arizona 480 450 480 450 Arkansas 31,720 10,146 3 1 31,723 10,147 CaliFornia 345 113 1,613 303 1,958 416 Colorado 161,391 113,832 193,614 101,212 355,005 215,044 Idaho 44,175 10,643 44,175 10,643 Illinois 172 39 14,207 3,949 14,379 3,988 Indiana 1,890 702 1,890 702 Kansas 30,302 13,397 16,880 3,843 47,182 17,240 Kentucky 17,323 6,669 17,323 6,669 Louisiana 12,459 11,323 756 756 13,215 12,079 Michigan 89 8 6,240 1,262 6,329 1,270 Minnesota 313 104 313 104 Mississippi 2,904 1,922 1,053 447 3,957 2,369 Montana 20,149 8,541 300,339 53,655 320,488 62,196 Nevada 320 280 680 543 1,000 823 New Mexico 79,433 55,807 38,422 17,650 117,855 73,457 North Dakota 4,635 546 146,364 21,781 150,999 22,327 Ohio 202 43 202 43 Oklahoma 1,483,255 260,409 65,831 38,740 1,549,086 299,149 Oregon 43,869 7,671 43,869 7,671 South Dakota 204,398 107,829 204,398 107,829 Texas 149,253 58,640 39,668 36,401 188,921 95,041 Utah 90,815 79,505 233,673 111,849 324,488 191,354 Washington 26,631 10,149 26,631 10,149 West Virginia 969 115 969 115 Wyoming 231,973 150,600 413,608 263,147 645,581 413,747 Total 2,300,184 765,223 1,812,232 799,799 4,112,416 1,565,022