Deepening or Sidetracking Cost Adjustments Sample Clauses

Deepening or Sidetracking Cost Adjustments. If a proposal is made to Deepen or Sidetrack a Non-consent Well, a well cost adjustment will be performed as follows: (a) Intangible drilling will be valued at the actual cost incurred by the Participating Parties. (b) Tangible materials will be valued at the actual cost incurred by the Participating Parties. (c) For Sidetracking operations, the values determined in Articles 13.4(a) and 13.4(b) shall be reduced by the amount allocated to that portion of the well from the surface to one hundred feet (100') below the point at which the Sidetracking was initiated. Such allocations shall be consistent with the guidelines recommended by the applicable Council of Petroleum Accountants Societies ("COPAS") Guideline, as amended from time to time. (d) Amor▇▇▇▇▇ion/depreciation shall be applied to both intangible and tangible values at the rate of ten percent (10%) per annum from the date the well commenced Hydrocarbon production to the date operations commence to Deepen or Sidetrack the well, provided however, the value of tangible materials after applying depreciation shall never be less than fifty percent (50%) of the value determined in Article 13.4(b).
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Deepening or Sidetracking Cost Adjustments. 46 13.5 SUBSEQUENT OPERATIONS IN NON-CONSENT WELL ............................47 13.6 OPERATIONS IN A PRODUCTION INTERVAL ..................................47 13.7 OPERATIONS UTILIZING A NON-CONSENT PLATFORM AND/OR DEVELOPMENT FACILITIES ...........................................................47 13.7.1 Forfeiture of Initial Platform or Development Facilities ....
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Deepening or Sidetracking Cost Adjustments. If a proposal is made to Deepen or Sidetrack a Non- consent Well, a well cost adjustment will be performed as follows: (A) Intangible drilling will be valued at the actual cost incurred by the Participating Parties. (B) Tangible materials will be valued as transfers of new material in accordance with the provisions of Exhibit"C." (C) For Sidetracking operations, the values determined in Articles 13.4(A) and 13.4(B) shall be reduced by the amount allocated to that portion of the well one hundred (100) feet below the point of Sidetrack Such allocations shall be accomplished consistent with guidelines recommended by the Council of Petroleum Accountants Societies (COPAS) in COPAS Bulletin No. 2, Determination of ▇▇▇▇es fo▇ ▇▇▇l Cost ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇tions, September 1965, as amended from time to time. (D) Amortization/depreciation shall be applied to both intangible and tangible values at the rate of ten percent (10%) per annum from the date the well commenced Hydrocarbon production to the date operations commence to Deepen or Sidetrack the well, provided, however, the value of tangible MODEL FORM OF OFFSHORE OPERATING AGREEMENT materials after applying depreciation shall never be less than fifty percent (50%) of the value determined in Article 13.4(B).
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Related to Deepening or Sidetracking Cost Adjustments

  • Cost Adjustments Both parties agree that contracted prices shall be fixed for the first 12 months of this Contract. Contractor must submit to District any proposed cost adjustments at least 60 days before the proposed effective date of such increases with a detailed explanation for each adjustment. District alone reserves the right to reject any changes to this Contract it deems unacceptable.

  • Market Adjustments Neither this Article nor any other in this Collective Agreement prevents the Employer from using other funds to increase a Member’s salary in response to offers received from other employers or to accommodate other market forces.

  • Cost Share Federal and provincial governments support AgriInsurance programs by paying all administration expenses and sharing premium costs with the Insured.

  • Audit Adjustment If any audit of the records, books or accounts relating to the Properties discloses an overpayment or underpayment of Management Fees, Owner or Manager shall promptly pay to the other party the amount of such overpayment or underpayment, as the case may be. If such audit discloses an overpayment of Management Fees for any fiscal year of more than the correct Management Fees for such fiscal year, Manager shall bear the cost of such audit.

  • Direct Expenses 1. Fees and expenses of its directors (including the fees of those directors who are deemed to be "interested persons" of the Fund as that term is defined in the Investment Company Act of 1940) and the meetings thereof;