Examples of Contract Area in a sentence
Except as herein otherwise specifically provided, Operator shall promptly pay and discharge expenses incurred in the development and operation of the Contract Area pursuant to this agreement, and shall charge each of the parties hereto with their respective share of the expenses as provided hereto in Exhibit "B".
Systematic review of the hydrocarbon potential of the Contract Area through integrated geological, geophysical, structural, geochemical and other studies.
Subject to law and to this Agreement, the Contractor may enter and leave the Contract Area at any time for the purposes of Petroleum Operations.
Each Non-Operator agrees that Operator shall be entitled to utilize the provisions of Oil and Gas Lien laws of the state in which the Contract Area is situated in order to secure the payment to Operator of any sum due hereunder for services performed or materials supplied by Operator.
In the same manner, the parties shall also own all production of oil and gas from the Contract Area subject however, to the payment of royalties and other burdens on production as described hereafter.