Drilling and Completion Activities Clause Samples
The Drilling and Completion Activities clause defines the responsibilities and procedures related to the drilling and completion of wells in an oil and gas project. It typically outlines the standards, timelines, and reporting requirements that the operator must follow during these activities, such as obtaining necessary permits, adhering to safety protocols, and providing regular progress updates to stakeholders. This clause ensures that all parties are aware of the expectations and processes involved, thereby promoting operational efficiency and minimizing disputes related to drilling and completion operations.
Drilling and Completion Activities. (a) The Company shall not, nor shall it permit any Subsidiary to, conduct in its role as operator, any drilling or completion activities not otherwise contemplated under the APOD; provided, that, during the continuance of an Event of Default, the Company shall, and shall cause its Subsidiaries to cease all completion and drilling activities and cease making any Capital Expenditures.
(b) Notwithstanding Section 9.22(a), the Company and its Subsidiaries may continue to make expenditures in connection with (i) Emergency Capital Expenditures and (ii) the maintenance of Oil and Gas Properties in a manner consistent with customary and prudent industry practices.
Drilling and Completion Activities. (a) The Company shall not, nor shall it permit any Subsidiary to, conduct in its role as operator, any drilling or completion activities not otherwise contemplated under the APOD; provided, that, during the continuance of an Event of Default, the Company shall, and shall cause its Subsidiaries to cease all completion and drilling activities and cease making any Capital Expenditures.