Drilling Commitment Sample Clauses

Drilling Commitment. Upon exercise of the Option, Euramerica agrees to pay Midwest $2,000,000 on or before August 31, 2008 to drill, complete and put on production (including the remaining ▇▇▇▇▇ of Article 6, the Teats secondary recovery and any modification required to the Surface Production Facility) on the Property as the funds will allow during 2008. However, Midwest cannot guarantee any of the exploratory ▇▇▇▇▇ will be of sufficient quality to complete. Midwest will continue to act as Operator on a cost plus 17.5% basis for all ▇▇▇▇▇ drilled.

Drilling Commitment. The Company shall pay Contractor the sum of the following for each day during the term hereof that a Committed Rig is not operated by the Company (or its affiliates) (the “Rig Payment”): (i) Contractor’s average daily operating cost for Contractor’s operating drilling rigs for the preceding thirty (30) days, plus (ii) twenty percent (20%); provided, however, the Rig Payment shall in no event be less than $6,600 per day.

Drilling Commitment. Buyer agrees to drill the following ▇▇▇▇▇ within the following time frames, subject to Force Majeure, and subject to any limitations and other terms contained in the Leases. (a) On or before November 1, 2005, Buyer shall commence drilling of a well at a location of its choosing on one of the Leases, and drill the same to a depth sufficient to test the entire ▇▇▇▇▇▇▇▇ Fork Formation to the top of the ▇▇▇▇▇▇▇ Formation, or a to a depth of 10,000 feet subsurface, whichever is the lesser depth; and (b) On or before eighteen months from the date of this Agreement, Buyer shall commence drilling of nine (9) additional ▇▇▇▇▇ at locations of its choice on the Leases, and drill each of said ▇▇▇▇▇ to a depth sufficient to test the entire ▇▇▇▇▇▇▇▇ Fork Formation to the top of the ▇▇▇▇▇▇▇ Formation, or a to a depth of 10,000 feet subsurface, whichever is the lesser depth. If Buyer fails to drill any of the said nine (9) ▇▇▇▇▇ described above, then Buyer shall pay Seller upon their written demand the sum of $500,000.00 for each well Buyer fails to drill, as liquidated damages or Buyer shall reassign all of its interests within the AMI to ATEC/Apollo free and clear of any burdens created by Buyer, except the drilling and spacing unit and ▇▇▇▇▇ already commenced by Buyer pursuant to this Agreement as of eighteen months from the date of this Agreement.

Drilling Commitment a. Subject to the occurrence of Closing, MHR and NGAS agree that they shall cause MHR, NPC and their respective Affiliates, to spend, in the aggregate, a minimum of $20 million (net of general, administrative, and supervision costs) during the remainder of calendar year 2011 subsequent to Closing and a minimum of $20 million (net of general, administrative, and supervision costs) during calendar year 2012 on commencing drilling and the actual completing of new horizontal gas ▇▇▇▇▇ during each such calendar year, on the Committed Reserve Area, as defined in the NAESB Purchase Agreement (including operations to rework, sidetrack, deepen, recomplete or plug back such new horizontal gas ▇▇▇▇▇) (“New Well Drilling Expenditures”). In the event drilling commences on a new horizontal gas well in either calendar year 2011 or calendar year 2012 and such well is actually completed in the first sixty (60) days of calendar year 2012 or the first forty-five (45) days of calendar year 2013, the costs of the actual drilling and completing of such well shall be credited to the minimum of the applicable calendar year and captured in the applicable Annual Statement described below. Further, credit against the 2011 minimum will also be provided for the cost of the actual drilling and completing of new horizontal gas ▇▇▇▇▇ by MHR, NPC and their respective Affiliates during calendar year 2011, but prior to Closing, where the drilling activity on a well commenced on or after January 1, 2011 and where prior to Closing SES receives a schedule and supporting documentation (including, but not limited to third party invoices), together with a certification by an authorized officer, of the actual out of pocket costs for drilling and completing of such new horizontal gas as of Closing. For the avoidance of doubt and notwithstanding the completion date, in no event shall such new horizontal gas ▇▇▇▇▇ be considered “Existing ▇▇▇▇▇” as such term defined in the Gathering Agreement. b. Within ninety (90) days after the end of calendar year 2011 and seventy-five (75) days after the end of calendar year 2012, MHR shall provide SES with a statement of the total New Well Drilling Expenditures by MHR, NPC and its Affiliates during such year (“Annual Statement”). For each year in which such New Well Drilling Expenditures are less than $20 million, within ninety (90) days after the end of calendar year 2011 and seventy-five (75) days after the end of calendar year 2012, MHR shall pay to SES, by wi...

Drilling Commitment. AEI shall drill and complete, if warranted, not less than six (6) ▇▇▇▇▇ over a period of two (2) years at such locations as may be selected by AEI after consultation with ▇▇▇▇▇▇▇, with the first of such ▇▇▇▇▇ to be commenced within six (6) months of the date of the acceptance by AEI of the last of the oil and gas leases covering the Leased Lands. Each well drilled and completed on the Leased Lands or, in the event the option herein described is exercised by AEI, on the Option Lands, irrespective or whether classified as an oil or gas well, that is capable of producing oil and/or gas in paying quantities shall hold, and shall be considered for the purposes of this Agreement to be production from, Six Thousand Four Hundred (6,400) acres of the Lease Lands or Option Lands, as applicable. After AEI has earned Thirty Eight Thousand Four Hundred (38,400) acres by drilling the ▇▇▇▇▇ required to hold this acreage, the royalty percentage in the oil and gas leases for all of the acreage in excess of Thirty Eight Thousand Four Hundred (38,400) covered by leases from ▇▇▇▇▇▇▇ to AEI in the Area of Mutual Interest described in Section 6 below shall decrease from Seventeen and One-Half percent (17.5%) to Fifteen percent (15%).

Drilling Commitment. USEG shall commence after the Closing Date and on or before eighteen (18) months from the Closing Date (the “Drilling Commencement Deadline”), operations for the drilling of no less than two wells (the “Commitment Wells”) on the Leases within the AMI or lands pooled, communitized or unitized therewith, and proceed with such operations with reasonable diligence. USEG shall have sole authority to determine the locations, target depth, manner of drilling, testing and completing (if applicable) of such Commitment Wells.

Drilling Commitment. (a) Farmee shall be required to drill (or participate, including by way of farmout, in the drilling by third parties) to the Target Formations on the Leases or lands pooled or unitized therewith (collectively, the "Contract Area") the following minimum number of ▇▇▇▇▇ (the "Obligation ▇▇▇▇▇" and each such well, an "Obligation Well") as of the time periods indicated (each such time period, a "Calendar Period") Effective Date through December 31, 2009: eight (8) ▇▇▇▇▇; 8 January 1, 2010 through December 31, 2010: sixteen (16) ▇▇▇▇▇; 24 January 1, 2011 through December 31, 2011: twenty-four (24) ▇▇▇▇▇; 48 January 1, 2012 through December 31, 2012: twenty-four (24) ▇▇▇▇▇; 72 January 1, 2013 through December 31, 2013: twenty-four (24) ▇▇▇▇▇; 96 January 1, 2014 through December 31, 2014: twenty-four (24) ▇▇▇▇▇; 120 January 1, 2015 through December 31, 2015: twenty-four (24) ▇▇▇▇▇; 144 January 1, 2016 through December 31, 2016: twenty-four (24) ▇▇▇▇▇; 168 January 1, 2017 through December 31, 2017: eleven (11) ▇▇▇▇▇; 179 (b) Notwithstanding anything to the contrary herein, in the event that Farmee drills (or participates, including by way of farmout, in the drilling by third parties) any number of Obligation ▇▇▇▇▇ within the Contract Area that are in excess of the required minimum Obligation ▇▇▇▇▇ in any Calendar Period under Section 1(a) hereof, then those number of Obligation ▇▇▇▇▇ in excess of such required minimum Obligation ▇▇▇▇▇ for such Calendar Period shall be credited to Farmee's drilling obligations in subsequent Calendar Periods on a cumulative basis. By way of example only, if during the Calendar Period of 2009, Farmee drills (or participates, including by way of farmout, in the drilling by third parties) 28 Obligation ▇▇▇▇▇, then Farmee shall be deemed to have satisfied its drilling obligations for the Calendar Periods of 2009 and 2010 and it shall be credited with drilling 4 of the Obligation ▇▇▇▇▇ required to be drilled in the Calendar Period of 2011. (c) It is anticipated by the Parties that the majority of the Obligation ▇▇▇▇▇ will be horizontal ▇▇▇▇▇ with the horizontal portion of each wellbore being of a reasonable and practical length given the geological, leasehold and surface conditions. Notwithstanding the foregoing, and unless the Parties otherwise agree, to qualify as a horizontal well hereunder, once the wellbore reaches the Target Formations in no event shall the lateral length of such horizontal wellbore be less than 1,600 feet in lengt...

Drilling Commitment. By December 1, 2004, Producer commits to drill (including existing ▇▇▇▇▇), complete and produce a minimum of eighty (80) ▇▇▇▇▇ from within the dedicated acreage described in Exhibit "B".

Drilling Commitment. During each of calendar year 2012 and 2▇▇▇ ▇▇▇▇▇▇▇ agrees to commence or cause to be commenced, drilling operations for at least three w▇▇▇▇ within pooled units that include Subject Leasehold.