Wellbore Only definition

Wellbore Only means the investors will acquire an interest in a single wellbore, and not the remainder of the Lease(s) on which the wellbore is located. As a result, subject to spacing limitations imposed by the State, offset wells could be drilled in close proximity to the wells to which investors acquire royalty interests, and the investors may not acquire an interest in such offset well. It is possible that an offset well could produce the same formation and/or reservoir and thus reduce the total production (and corresponding revenue) to be recovered by the investors.
Sample 1

Examples of Wellbore Only in a sentence

  • EXHIBIT D Form of Overriding Royalty Agreement Wellbore Only This Overriding Royalty Agreement is made as of ________________, 2010, between [all license holders who are granting the OXX] (foregoing parties are collectively the "Grantor") and GeoGlobal Resources (India) Inc.

  • Consistent with Legacy’s “well-bore only” interests in the Wells, the JOA contains a Wellbore Only Limitation, which provides that the agreement is applicable only to the “operation and production of the Wellbores.” JOA, Art.

  • Seller Submitted Addendum, if any Exhibit “A” – Form Assignment to EF VC2 Exhibit “B” – Leases forming Underlying Leasehold Estate Exhibit “C” – Existing Joint Operating Agreements or Wellbore Only JOA to be Executed Upon Completion and Assignment to Seller Exhibit “D” – Authority for Expenditure and Work Program IT IS UNDERSTOOD THAT ANY REFERENCE TO “DRILLING” IS INTENDED TO BE A REFERENCE TO RE-WORKING AND RE-COMPLETION OPERATIONS.

Related to Wellbore Only

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  • Underground injection means the subsurface emplacement of fluids through a bored, drilled or driven well; or through a dug well, where the depth of the dug well is greater than the largest surface dimension. (See also “injection well”.)

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