Common use of Fixed Rate Basis Clause in Contracts

Fixed Rate Basis. (1) Operator shall charge the Joint Account at the following rates per well, per month: Drilling Well Rate $10,000; Drilling $10,000 Completion. (Prorated for less than a full month) Producing Well Rate $1,000 (2) Application of Overhead – Fixed Rate Basis shall be as follows: (a) Drilling Well Rate. (1) Charges for drilling ▇▇▇▇▇ shall begin on the date the well is spudded and terminate on the date the drilling rig, completion rig, or other units used in completion of the well is released, whichever is later, except that no charge shall be made during suspension of drilling or completion operations for fifteen (15) or more consecutive calendar days. (2) Charges for ▇▇▇▇▇ undergoing any type of workover or recompletion for a period of five (5) consecutive work days or more shall be made at the drilling well rate. These charges shall be applied for the period from date workover operations, with rig or other units used in workover, commence through date of rig or other unit release, except that no charge shall be made during suspension of operations for fifteen (15) or more consecutive calendar days.

Fixed Rate Basis. (1) Operator shall charge the Joint Account at the following rates per well, per month: Drilling Well Rate Rate: $10,000; Drilling $10,000 Completion. 800 per month for each well (Prorated for less than a full month) Producing Well Rate Rate: $1,000800 per month for each well (2) Application of Overhead – Fixed Rate Basis shall be as follows: (a) Drilling Well Rate. (1) Charges for drilling ▇▇▇▇▇ shall begin on the date the well is spudded and terminate on the date the drilling rig, completion rig, or other units used in completion of the well is released, whichever is later, except that no charge shall be made during suspension of drilling or completion operations for fifteen (15) or more consecutive calendar days. (2) Charges for ▇▇▇▇▇ undergoing any type of workover or recompletion for a period of five (5) consecutive work days or more shall be made at the drilling well rate. These charges shall be applied for the period from date workover operations, with rig or other units used in workover, commence through date of rig or other unit release, except that no charge shall be made during suspension of operations for fifteen (15) or more consecutive calendar days.