Subsequent Exploration Program Clause Samples

Subsequent Exploration Program. Upon termination of the Exploration Period and whenever there is at least one Assessment Area or one Exploitation Area or one Discovery made by THE CONTRACTOR in the last phase of the Exploration Period within the Contracted Area, THE CONTRACTOR will be allowed to retain up to fifty percent (50%) of the Contracted Area (excluding Assessment and Exploitation Areas) to carry out a Subsequent Exploration Program in the retained area but outside of the Assessment and Exploitation Areas. In this case, the following procedure will be applied: a) Before the termination date of the last phase of the Exploration Period, THE CONTRACTOR shall notify THE A▇▇ in writing of its intention to carry out a Subsequent Exploration Program. b) The notice must describe the Exploration Operations that constitute the Subsequent Exploration Program that THE CONTRACTOR intends to carry out. The Program will be divided in two (2) phases lasting two (2) Years each, the first one counted as of the termination of the last phase of the Minimum Exploration Program. Each phase of the Subsequent Exploration Program must have at least the same Exploration Operations agreed to for the last phase of the Minimum Exploration Period. c) After the obligations of the first phase of the Subsequent Exploration Program have been successfully performed, THE CONTRACTOR may decide not to continue with the second phase, which implies returning the areas retained for this purpose in their entirety, or to commence the second phase which means that THE CONTRACTOR will only return fifty percent (50%) of said retained area, excluding the existing Assessment and Exploitation Areas. THE CONTRACTOR shall inform THE A▇▇ in writing of the decision within the Month following termination of the first phase. It is understood that the returns mentioned in this Clause do not include the existing Assessment and the Exploitation Areas.
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Subsequent Exploration Program. Exploration Program THE CONTRACTOR agrees to undertake to execute after the end of the Exploration Period as stipulated in Clause 9.
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Subsequent Exploration Program. If the Exploration Period ends and provided that there is at least one Evaluation Area or Exploitation Area, THE CONTRACTOR may retain 50% of the Contract Area (excluding Exploitation Areas) to implement a Subsequent Exploration Program in the area retained outside of an Evaluation Area or Exploitation Area. The following procedure will apply: a) Before completing the final phase of the Exploration Period THE CONTRACTOR will advise ▇▇▇ in writing that it intends to implement a Subsequent Exploration Program; b) The notice will describe the Exploration Operations in the Subsequent Exploration Program which THE CONTRACTOR undertakes to perform, dividing the Program into two phases of two Years each, the first to count as of the expiry date of the last phase of the Minimum Exploration Program. Each phase of the Subsequent Exploration Program will contain at least the same Exploration Operations as were agreed for the last phase of the Minimum Exploration Program; c) If the obligations of the first phase of the Subsequent Exploration Program are duly discharged THE CONTRACTOR may elect not to continue with the second phase and in exchange must relinquish all the areas retained for that purpose or it may elect to continue with the second phase, and must relinquish only 50% of those areas excluding any existing Evaluation Areas and Exploitation Areas. THE CONTRACTOR will inform ▇▇▇ in writing of its decision within one month of the end of the first phase. d) The relinquishment of areas mentioned in this Clause is understood to be without prejudice to the existing Evaluation Areas and Exploitation Areas.
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Subsequent Exploration Program. It corresponds to the Exploration Operations Plan that the Contractor submits to the ▇▇▇ and undertakes to execute after the Exploration Period has ended. Consequently, once the latter has been completed, and whenever there is at least one (1) Evaluation Area, one (1) Production Area, or one (1) Discovery duly reported to the ▇▇▇, the Contractor may retain that Allocated Area of its interest, excluding the areas that conform Appraisal and/or Production Areas and/or corresponding to the Discovery, in order to conduct a Subsequent Exploration Program, according to the procedure and the requirements agreed upon in this legal business.
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Subsequent Exploration Program. 4.5.1. It consists in the Exploration Operations Plan that the Contractor submits to the ▇▇▇ and undertakes to perform after completion of the two (2) Phases that make up the Exploration Period. Consequently, upon the completion of the latter, and provided that there is at least one (1) Allocated Area in Evaluation, one (1) Allocated Producing Area, or one (1) Discovery duly reported to the ▇▇▇, the Contractor may retain its area of interest, excluding the areas that make up the Existing Allocated Areas in Evaluation and/or Production and/or corresponding to the Discovery, in order to carry out a Subsequent Exploration Program, in accordance with the procedure and with the requirements agreed upon in Clause 4.5. 4.5.2. Hence, if after the Exploration Period ends and all the activities inherent in it are completed, the Contractor opts for developing a Subsequent Exploration Program, it must offer to the ▇▇▇ and commit to perform the activities that comprise it, including the drilling of one (1) Exploratory Well A3, which is considered the minimum required. 4.5.3. The Subsequent Exploration Period lasts up to twenty-four (24) Months.
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Subsequent Exploration Program. The Ex- ploration Operations program that THE CONTRAC- TOR agrees to carry out upon termination of the Exploration Period, according to the provisions set forth in Clause 9. Evaluation Program: The Evaluation Opera- tions plan submitted by THE CONTRACTOR to the ▇▇▇, according to ▇▇▇▇▇▇ 14, in order to evaluate a Discovery and determine if it involves a Commer- cial Field. The execution of the Evaluation Program and the submission of a report of the results to the ▇▇▇ are required to declare if a Discovery is a Commercial Field. Work Program: The description of the activities and Exploration, Evaluation and/or Production Operations of the pursuant to the terms of this contract. The Work Program shall include the schedule according to which THE CONTRACTOR shall begin and complete the activities and the corresponding budget.
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Subsequent Exploration Program. ‌ 4.8.7.1 The Subsequent Exploration Program will have maximum two (2) phases of up to thirty-six (36) Months each, which must include, at least, the drilling of one (1) Type A3 or A2 Exploratory Well per phase.‌ 4.8.7.2 Notwithstanding the provisions of above Clause 0of this Agreement, at the end of the Exploration Period, and provided that there is at least one (1) Area in Evaluation, one (1) Area in Production, or one (1) Discovery duly reported to the ▇▇▇, the Contractor may either retain, or return fifty percent (50%) of the Allocated Area, excluding the surfaces that are part of existing Areas in Evaluation and/or Production and/or correspond to the Discovery, in order to carry out a Subsequent Exploration Program. In this case, the following procedure must be followed: 4.8.7.2.1 At least three (3) Months before the date of completion of the last phase of the Exploration Period, the Contractor must file written notice with the ▇▇▇, expressing its interest in undertaking the Subsequent Exploration Program. The Contractor shall include in said notice the budget and the respective detailed schedule of all the Exploration Operations and Activities that it undertakes to develop under the Subsequent Exploration Program, upon the termination of the last phase of the Exploration Program. 4.8.7.2.2 The ▇▇▇ will review the Subsequent Exploration Program, its duration, acreage, and location of the respective Area, and will decide on its applicability or not within three (3) Months following its presentation by the Contractor, as an indispensable requisite for the application of the rules referred to in this Clause4.8.
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Related to Subsequent Exploration Program

  • Development Plans Customer has provided Provider with a report attached hereto as Exhibit D (the “Current Development Plan”) describing in detail, as of January 1, 2017, the planned development, drilling, production, processing, treating, marketing and other activities to take place with respect to Dedicated Production and Customer Injected NGLs for the applicable Development Period. The information contained in the Current Development Plan is, with respect to the first three Years covered by the Current Development Plan, on a Quarter-by-Quarter basis, and with respect to the remaining Years covered by the Current Development Plan, on a Year-by-Year basis. The Current Development Plan attached hereto has been approved by the Parties. (a) From time to time during each Year of the Term, the Parties shall meet to discuss the planned development, drilling, production, processing, treating, marketing and other activities that Customer expects to take place with respect to Dedicated Production and Customer Injected NGLs for the then-applicable Development Period. Customer and Provider shall each make their respective representatives available to participate in such meetings and discussions. No later than August 1 of each such Year, Customer shall provide (or cause to be provided) to Provider a proposed update of the then-currently agreed Development Plan, prepared on the same basis as the Current Development Plan and describing in detail the planned development, drilling, production, processing, treating, marketing and other activities to take place with respect to Dedicated Production and Customer Injected NGLs for the then-applicable Development Period (any such update, an “Updated Development Plan” and, together with the Current Development Plan, each, a “Development Plan”). (b) Each proposed Development Plan shall include information as to the following, in each case, broken out, with respect to the first three Years covered by such Development Plan, on a Quarter-by-Quarter basis, and, with respect to the remaining Years covered by such Development Plan, on a Year-by-Year basis: (i) forward-looking production estimates for the applicable time period covered by such Development Plan for all Customer Gas and Customer Injected NGLs (A) that Customer reasonably and in good faith believes will become owned or Controlled by Customer during the time period covered by such Development Plan, and/or (B) that will be produced from (I) in the aggregate, all ▇▇▇▇▇ then-existing and (II) in the aggregate, all ▇▇▇▇▇ that are expected to be drilled during the time period covered by such Development Plan (each such Well reflected in such Development Plan, a “Planned Well” and, such collective estimates described in subsections (A) and (B), both with respect to a particular Quarter and an entire Year, the “Dedicated Production Estimates”); TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). (ii) (A) each new receipt point (including the location thereof) proposed by Customer with respect to the Dedicated Production Estimate reflected in such Development Plan (each such receipt point, a “Planned Receipt Point”), (B) each Receipt Point at which Customer expects to Tender Customer Gas or Customer Injected NGLs reflected in such Development Plan into the TGP System, and (C) the estimated portion of the Dedicated Production Estimate contained in such Development Plan that Customer expects to Tender at each such Receipt Point and Planned Receipt Point; (iii) (A) each new delivery point (including the location thereof) proposed by Customer with respect to the Dedication Production Estimate reflected in such Development Plan (each such delivery point, a “Planned Delivery Point”), (B) each Delivery Point at which Customer expects to Nominate Customer Residue Gas or Customer NGLs produced from the Dedicated Production Estimate reflected in such Development Plan to be redelivered to Customer, and (C) the estimated volumes of Customer Residue Gas and Customer NGLs produced from the Dedication Production Estimate contained in such Development Plan that Customer expects to Nominate to each such Delivery Point; (iv) the earliest date on which each Planned Receipt Point and Planned Delivery Point included in the Development Plan is required by Customer to be placed into service, which date shall not be earlier than three Months after the January 1st that is immediately subsequent to the date that the Development Plan that initially reflected such Planned Receipt Point or Planned Delivery Point was delivered to Provider hereunder; (v) the anticipated characteristics of the production from the ▇▇▇▇▇ and Planned ▇▇▇▇▇ reflected in such Development Plan (including liquids content and gas and liquids composition) and the projected production volumes and production pressures applicable thereto; provided that Customer may utilize the existing and historical production information from similarly situated ▇▇▇▇▇; (vi) any (A) proposed revision to the then-existing Dedicated Area and/or any then-existing Dedicated Contract and/or (B) any new contract that Customer proposes to be a Dedicated Contract; and (vii) other information reasonably requested by Provider that is relevant to the design, construction, and operation of the TGP System, including (A) any applicable Plant Expansion or Facilities Modification proposed by Customer, (B) the relevant Receipt Point and Planned Receipt Point facilities applicable to such Development Plan, and (C) the relevant Delivery Point and Planned Delivery Point facilities applicable to such Development Plan. TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**).

  • Commercialization Plan On a Product by Product basis, not later than sixty (60) days after the filing of the first application for Regulatory Approval of a Product in the Copromotion Territory, the MSC shall prepare and approve a rolling multiyear (not less than three (3) years) plan for Commercializing such Product in the Copromotion Territory (the "Copromotion Territory Commercialization Plan"), which plan includes a comprehensive market development, marketing, sales, supply and distribution strategy for such Product in the Copromotion Territory. The Copromotion Territory Commercialization Plan shall be updated by the MSC at least once each calendar year such that it addresses no less than the three (3) upcoming years. Not later than thirty (30) days after the filing of the first application for Regulatory Approval of a Product in the Copromotion Territory and thereafter on or before September 30 of each calendar year, the MSC shall prepare an annual commercialization plan and budget (the "Annual Commercialization Plan and Budget"), which plan is based on the then current Copromotion Territory Commercialization Plan and includes a comprehensive market development, marketing, sales, supply and distribution strategy, including an overall budget for anticipated marketing, promotion and sales efforts in the upcoming calendar year (the first such Annual Development Plan and Budget shall cover the remainder of the calendar year in which such Product is anticipated to be approved plus the first full calendar year thereafter). The Annual Commercialization Plan and Budget will specify which Target Markets and distribution channels each Party shall devote its respective Promotion efforts towards, the personnel and other resources to be devoted by each Party to such efforts, the number and positioning of Details to be performed by each Party, as well as market and sales forecasts and related operating expenses, for the Product in each country of the Copromotion Territory, and budgets for projected Pre-Marketing Expenses, Sales and Marketing Expenses and Post-Approval Research and Regulatory Expenses. In preparing and updating the Copromotion Territory Commercialization Plan and each Annual Commercialization Plan and Budget, the MSC will take into consideration factors such as market conditions, regulatory issues and competition.

  • Development Plan document specifying the work program, schedule, and relevant investments required for the Development and the Production of a Discovery or set of Discoveries of Oil and Gas in the Contract Area, including its abandonment.

  • Development Program A. Development activities to be undertaken (Please break activities into subunits with the date of completion of major milestones) B. Estimated total development time

  • Development Period The Contractor may commence pre-construction activities like utility shifting, boundary wall construction or any other activity assigned to the Contractor by the Authority to enable construction of the Project Highway immediately after signing of the Agreement, to the extent that such work is ready for execution. The Parties agree that these works may be taken up and completed to the extent feasible by the Contractor, before declaration of the Appointed Date, but no claim against the Authority for delay shall survive during this period and that the undertaking of these works by the Contractor shall not count towards the Scheduled Construction Period of the project which starts counting only from the Appointed Date. No construction activity of the Project Highway shall be undertaken during the development period.