COMPLETION PROGRAM. The Contractor, in its capacity as Managing General Partner of the Partnership (the “Managing General Partner”), along with other participating Partnership Well working interest owners, shall determine whether Contractor shall set a production string on the Prospect Well. In the event the Managing General Partner directs that drilling operations cease and to abandon the Partnership Well, Contractor shall plug the Partnership Well, remove all drilling apparatus from the well site and the obligations of the parties hereunder shall cease. In the event the Managing General Partner directs Contractor to set a production string on the Prospect Well and makes timely payment to the Contractor of the Completion Price, Contractor shall commence the operations necessary to attempt to complete the Prospect Well for commercial production, including the setting of a production string and the acquisition, delivery and installation of a pump ▇▇▇▇, holding tank and all other necessary equipment needed to extract and contain oil and/or gas from the Partnership Well.
Appears in 3 contracts
Sources: Turnkey Drilling Contract (Bayou City Exploration, Inc.), Turnkey Drilling Contract (Bayou City Exploration, Inc.), Turnkey Drilling Contract (Bayou City Exploration, Inc.)
COMPLETION PROGRAM. The Contractor, in its capacity as Managing General Partner of the Partnership (the “"Managing General Partner”"), along with other participating Partnership Well working interest owners, shall determine whether Contractor shall set a production string on the Prospect Well. In the event the Managing General Partner directs that drilling operations cease and to abandon the Partnership Well, Contractor shall plug the Partnership Well, remove all drilling apparatus from the well site and the obligations of the parties hereunder shall cease. In the event the Managing General Partner directs Contractor to set a production string on the Prospect Well and makes timely payment to the Contractor of the Completion Price, Contractor shall commence the operations necessary to attempt to complete the Prospect Well for commercial production, including the setting of a production string and the acquisition, delivery and installation of a pump ▇j▇▇▇, holding tank and all other necessary equipment needed to extract and contain oil and/or gas from the Partnership Well.
Appears in 1 contract
Sources: Turnkey Drilling Contract (Bayou City Exploration, Inc.)
COMPLETION PROGRAM. The Contractor, in its capacity as Managing General Partner of the Partnership (the “Managing General Partner”), along with other participating Partnership Well working interest owners, shall determine whether Contractor shall set a production string on the Prospect Well. In the event the Managing General Partner directs that drilling operations cease and to abandon the Partnership Well, Contractor shall plug the Partnership Well, remove all drilling apparatus from the well site and the obligations of the parties hereunder shall cease. In the event the Managing General Partner directs Contractor to set a production string on the Prospect Well and makes timely payment to the Contractor of the Completion Price, Contractor shall commence the operations necessary to attempt to complete the on the Prospect Well for commercial production, including the setting of a production string and the acquisition, delivery and installation of a pump ▇▇▇▇, holding tank and all other necessary equipment needed to extract and contain oil and/or gas from the Partnership Well.
Appears in 1 contract
Sources: Turnkey Drilling Contract (Bayou City Exploration, Inc.)