Delaware | 27-2101952 | |
(State or other jurisdiction of | (I.R.S. Employer | |
incorporation or organization) | Identification Number) | |
Westpointe Corporate Center One | ||
1550 Coraopolis Heights Road, Suite 300 | 15108 | |
Moon Township, Pennsylvania | (Zip Code) | |
(Address of principal executive offices) |
Large Accelerated Filer o | Accelerated Filer o | Non-Accelerated Filer o | Smaller Reporting Company þ | |||
(Do not check if a smaller reporting company) |
(1) | Units means limited partner Units, converted limited partner Units and investor general partner Units, which will be automatically converted into the converted limited partner Units by our managing general partner once all of our wells are drilled and completed. |
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i
ITEM 1. | BUSINESS. |
| quarterly reports on Form 10-Q; |
| annual reports on Form 10-K; |
| current reports on Form 8-K; and |
2
Participants |
$ | 149,724,600 | ||
Managing General Partner |
$ | 33,909,100 | (2) |
(1) | Our cash distributions are allocated between our managing general partner and our participants in the same percentages as their respective capital contributions bear to our total capital contributions, except that our managing general partner receives an additional 10% of our distributions regardless of the amount of its capital contribution. | |
(2) | Our managing general partners capital contributions to us increased from $33,909,100 as of December 31, 2010 to $37,891,600 as of March 31, 2011 (unaudited) and are expected to increase further as our drilling activities are completed. Currently, our managing general partner anticipates that its total capital contributions to us eventually will be approximately $46,632,000. |
| Provide monthly cash distributions to our participants from the wells drilled with our subscription proceeds until the wells are depleted, with a minimum annual return of capital of 12% during the first 12-month subordination period, 10% during the next three 12-month subordination periods, and 8% during the fifth 12-month subordination period based on $20,000 per Unit regardless of the actual subscription price paid, beginning when natural gas or oil is being sold from at least 75% of our wells. These distributions during the 60-month aggregate subordination period are not guaranteed, but are subject to our managing general partners subordination obligation as described in Item 11 Description of Registrants Securities to be Registered Distributions and Subordination, beginning on page 61. | ||
Under current conditions, and based in part on the drilling results of the 51.58 net wells which we drilled in 2010 (approximately 43% of our estimated total of 118.69 net wells to be drilled), we believe that our participants will receive the minimum aggregate distributions described above each year during this 60-month aggregate subordination period. See Item 3 Properties beginning on page 34, and the Notes to Financial Statements Note 10 in Item 13 Financial Statements and Supplementary Data beginning on page 89. However, we do not yet know the drilling results of all of the 67.11 net wells which we prepaid in 2010 (approximately 57% of our estimated total of 118.69 net wells to be drilled), since we were still in the process of drilling 35.11 of our net wells on March 31, 2011. Therefore, a participant should not rely on the results of the wells we drilled in 2010 as being indicative of the results of the wells drilled in 2011. Also, current conditions, such as prices for natural gas and our costs for operating our wells, will change during the 60-month aggregate subordination period. See Item 1A Risk Factors beginning on page 12. | |||
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| Obtain federal income tax deductions in 2010 from intangible drilling costs in an amount guaranteed to equal not less than 85% of each participants subscription price for his or her Units. Not less than 85% of our subscription proceeds must be used to pay the intangible drilling costs we incur to drill and complete our wells. These deductions for intangible drilling costs may be used to offset a portion of the participants taxable income subject to any objections by the IRS, each participants individual tax circumstances, and the passive activity rules if the participant invested in us as a limited partner. For example, if a participant paid $20,000 for a Unit the investment would produce a 2010 tax deduction of not less than $17,000 per unit, 85%, against: | ||
| ordinary income, or capital gain in some situations, if the participant invested as an investor general partner; and |
| passive income if the participant invested as a limited partner. |
In the first quarter of 2011, our IRS Schedule K-1s to our participants reported a deduction for intangible drilling costs in 2010 in an amount equal to 85% of the subscription price paid by each participant. However, we do not guarantee the IRS treatment of our participants deductions for intangible drilling costs. If the IRS were to decrease the amount of the deduction, or defer part of the deduction to 2011 for wells we prepaid in 2010, for example, our participants would not be entitled to any reimbursement from us for any increase in taxes owed, penalties or interest or any other lost tax benefits. |
| Offset a portion of any gross production income generated by us with tax deductions from percentage depletion. |
| Provide each of our participants with tax deductions, in an aggregate amount guaranteed to equal up to the remaining 15% of the participants initial investment in us that was used to pay equipment costs of our wells, instead of intangible drilling costs, through annual depreciation deductions over a seven-year cost recovery period, subject to: | ||
| a 50% write-off in 2010 for the costs of qualified equipment acquired before September 8, 2010 and used in wells placed in service for the production of natural gas production in 2010; or |
| a 100% write-off in 2010 for the costs of qualified equipment acquired after September 8, 2010 and used in wells placed in service for the production of natural gas in either 2010 or 2011. |
4
| well tending, routine maintenance and adjustment; |
| reading meters, recording production, pumping, maintaining appropriate books and records; and |
| preparing reports to us and to government agencies. |
5
| our natural gas and oil production quantities; |
| average sales prices; and |
| average production costs. |
| in the Marcellus Shale primary area, an amount equal to 16% of the gross sales price received by us for our natural gas, and for this purpose gross sales price means the price that is actually received, adjusted to take into account proceeds received or payments made pursuant to hedging arrangements; |
| in the New Albany Shale (Indiana) primary area, a gathering fee of $0.005 (1/2 of one cent) per mcf per mile the natural gas is transported, plus a processing fee of $1.00 per mcf if the natural gas is processed through a processing plant in Indiana in which an affiliate of our managing general partner owns an interest; and |
| in the Antrim Shale primary area in Michigan, an average gathering fee of approximately $.30 per mcf transported. |
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| If a third-party gathering system is used by us, then our managing general partners gathering fee with respect to our natural gas will be the actual transportation and compression fees charged by the third-party gathering system and our managing general partner will pay all of the gathering fee it receives from us to the third-party gathering the natural gas. |
| If both a third-party gathering system and a gas gathering system owned by an affiliate of our managing general partner are used by us, then our managing general partner will receive an amount equal to a competitive fee as described above for the natural gas transported by the segment provided by the gathering system owned by an affiliate of our managing general partner, plus the amount charged by the third-party gathering system for the natural gas transported by the segment provided by the third-party. |
| The natural gas produced from the Marcellus Shale primary area in Pennsylvania will be sold primarily to UGI Energy Services, Colonial Energy, Inc., South Jersey Resources Group, ConocoPhillips Company, Dominion Field Services, Inc., EQT Energy LLC, Equitable Gas Company, Sequent Energy Management, L.P., and NJR Energy Services pursuant to various contracts. |
| The natural gas produced from the New Albany Shale primary area in Indiana will be sold primarily to Atmos Energy pursuant to contracts which end March 31, 2014. |
| The natural gas produced from the Antrim Shale primary area in Michigan will be sold primarily to DTE Energy Company, BP Canada, Conoco Phillips, Sequent Energy, Nexen, and Total Gas & Power pursuant to various contracts or on the spot market. |
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| new well permit and well registration requirements, procedures, and fees; |
| landowner notification requirements; |
| certain bonding or other security measures; |
| minimum well spacing requirements; |
| restrictions on well locations and underground gas storage; |
| certain well site restoration, groundwater protection including water disposal plans, and safety measures; |
| discharge permits for drilling operations; |
| various reporting requirements; and |
| well plugging standards and procedures. |
| the discharge of pollutants into navigable waters; |
| disposal of wastewater; and | ||
| air pollutant emissions, which may include CO2 emissions from natural gas and oil wells. |
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| the cost, proximity, availability, and capacity of pipelines and other transportation facilities; |
| the price and availability of other energy sources such as coal, nuclear energy, solar and wind; |
| the price and availability of alternative fuels, including when large consumers of natural gas are able to convert to alternative fuel use systems; |
| local, state, and federal regulations regarding production, conservation, water disposal, and transportation; |
| overall domestic and global economic conditions; |
| the impact of the U.S. dollar exchange rates on natural gas and oil prices; |
| technological advances affecting energy consumption; |
| domestic and foreign governmental relations, regulations and taxation; |
| the impact of energy conservation efforts; |
| the general level of supply and market demand for natural gas and oil on a regional, national and worldwide basis; |
| weather conditions and fluctuating seasonal supply and demand for natural gas and oil because of various factors such as home heating requirements in the winter months; |
| economic and political instability, including war or terrorist acts in natural gas and oil producing countries, including those of the Middle East, Africa and South America; |
| the amount of domestic production of natural gas and oil; and |
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| the amount and price of imports of natural gas and oil from foreign sources, including the actions of the members of the Organization of Petroleum Exporting Countries (OPEC), which include production quotas for petroleum products from time to time with the intent of increasing, maintaining, or decreasing price levels. |
| actual prices we receive for natural gas; |
| the amount and timing of actual production; |
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| the amount and timing of our capital expenditures; |
| supply of and demand for natural gas; and |
| changes in governmental regulations or taxation. |
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| disclose our plans for using casing (e.g. steel pipe) in the well and cementing the casing in place through all fresh water aquifers before drilling to deeper natural gas formations in order to protect groundwater from contamination by natural gas or frac fluid produced from the well; | ||
| disclose the source and location of the water we will use; | ||
| identify where wastewater produced from the well will be stored, treated and disposed of; | ||
| disclose our plans for any pits to temporarily store water for our drilling activities, which must be constructed in accordance with the Pennsylvania DEP standards (e.g. synthetic liners); and | ||
| submit reports to the Pennsylvania DEP on well completion, waste management, annual production, and plugging and abandonment. | ||
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| title problems; |
| environmental or other regulatory concerns; |
| costs of, or shortages or delays in the availability of, oil field services and equipment; |
| unexpected drilling conditions; |
| unexpected geological conditions; |
| adverse weather conditions; |
| equipment failures or accidents; |
| limitations on or disruptions in gathering or transmission capacity; |
| environmental accidents such as gas leaks, ruptures or discharges of toxic gases, brine or well fluids into the environment or oil leaks, including groundwater contamination; |
| fires, blowouts, craterings and explosions; and |
| uncontrollable flows of natural gas or well fluids. |
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| the actual production history of our wells; |
| results of future exploration and development in the area; |
| decreases in natural gas and oil prices; |
| governmental regulation; and |
| other changes in current conditions, many of which are beyond our control. |
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| require the acquisition of a permit before drilling begins; |
| restrict the types, quantities, and concentration of substances that can be released into the environment in connection with drilling and production activities; |
| limit or prohibit drilling activities on certain lands lying within wilderness, wetlands, and other protected areas; and |
| impose substantial liabilities for pollution resulting from our operations. |
| the federal Clean Air Act and comparable state laws and regulations that impose obligations related to air emissions; |
| the federal Clean Water Act and comparable state laws and regulations that impose obligations related to discharges of pollutants into regulated bodies of water; |
| the Resource Conservation and Recovery Act (RCRA) and comparable state laws that impose requirements for the handling and disposal of waste, including waste water produced from our wells; and |
| the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) and comparable state laws that regulate the cleanup of hazardous substances produced from our wells. |
| assessment of administrative, civil, and criminal penalties; |
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| incurrence of investigatory or remedial obligations; or |
| imposition of injunctive relief. |
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| borrow funds from our managing general partner, which is not contractually obligated to make any loans to us; |
| shut-in or curtail production from some of our wells; or |
| attempt to sell some of our wells, which we may not be able to do on terms that are acceptable to us. |
| decreases in the price of natural gas and oil, which are volatile; |
| changes in the oil and gas industry, including changes in environmental regulations, which could increase our costs of operating our wells in compliance with any new environmental regulations; |
| an increase in third-party costs for equipment or services, or an increase in gathering and compression fees for transporting our natural gas production; and |
| problems with one or more of our wells, which could require repairing or performing other remedial work on a well or providing additional equipment for the well. |
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| our production is substantially less than expected; |
| the counterparties to the futures contracts fail to perform under the contracts; or |
| there is a sudden, unexpected event materially impacting natural gas prices. |
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| is not a personal service corporation or a closely held corporation; |
| is a personal service corporation in which employee-owners hold 10% (by value) or less of the stock, but is not a closely held corporation; or |
| is a closely held corporation (i.e., five or fewer individuals own more than 50% (by value) of the stock), but is not a personal service corporation in which employee-owners own more than 10% (by value) of the stock, in which case passive losses may be used to offset net active income (calculated without regard to passive activity income and losses or portfolio income and losses). |
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| if we borrow money, our participants share of our revenues used to pay principal on the loan will be included in their share of our income and will not be deductible; |
| income from sales of natural gas and oil may be included in our participants income from us in one tax year, even though payment is not actually received by us and, thus, cannot be distributed to our participants until the next tax year; |
| if there is a deficit in a participants capital account, we may allocate income or gain to the participant even though the participant does not receive a corresponding distribution of our revenues; |
| our revenues may be expended by our managing general partner for nondeductible costs or retained in us to establish a reserve for future estimated costs, including a reserve for the estimated costs of eventually plugging and abandoning our wells, which will reduce our participants cash distributions from us without a corresponding tax deduction; and |
| the taxable disposition of our property or our participants Units may result in income tax liability to our participants in excess of the cash they receive from the transaction. |
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ITEM 2. | FINANCIAL INFORMATION. |
For the period April 1, 2010 | ||||
(commencement of operations) | ||||
through December 31, 2010 | ||||
Income statement data: |
||||
Revenues: |
||||
Gas and oil production |
$ | 2,159,900 | ||
Total revenues |
$ | 2,159,900 | ||
Costs and expenses: |
||||
Gas and oil production |
$ | 1,000,600 | ||
Dry hole costs |
1,279,000 | |||
General and administration |
40,500 | |||
Depletion |
1,549,400 | |||
Total costs and expenses |
$ | 3,869,500 | ||
Net loss |
(1,709,600 | ) | ||
Basic and diluted net loss per limited partnership unit |
$ | (205 | ) | |
27
For the period April 1, 2010 | ||||
(commencement of operations) | ||||
through December 31, 2010 | ||||
Operating data: |
||||
Net annual production volumes: |
||||
Natural gas (mmcf) (1) |
457,100 | |||
Oil (mbbls) |
| |||
Total (mmcfs) |
457,100 | |||
Average sales price: |
||||
Natural gas (per mcf) |
$ | 4.72 | ||
Oil (per bbl) |
$ | | ||
Other financial information: |
||||
Net cash used in operating activities |
$ | | ||
Capital expenditures |
$ | 149,724,600 | ||
EBITDA (2) |
$ | (160,200 | ) | |
December 31, 2010 | ||||
Balance sheet data: |
||||
Total assets |
$ | 170,091,100 | ||
Total liabilities |
$ | 1,609,300 | ||
Partners capital |
$ | 168,481,800 | ||
(1) | Excludes sales of residual gas and sales to landowners. | |
(2) | We define EBITDA as earnings before interest, taxes, depreciation, depletion and amortization. EBITDA is not a measure of performance calculated in accordance with accounting principles generally accepted in the United States of America or GAAP. Although not prescribed under GAAP, we believe the presentation of EBITDA is relevant and useful because it helps our participants to understand our operating performance and makes it easier to compare our results with other companies that have different financing and capital structures or tax rates. EBITDA should not be considered in isolation from, or as a substitute for, our net income as an indicator of operating performance or cash flows from operating activities as a measure of liquidity. EBITDA, as we calculate it, may not be comparable to EBITDA measures reported by other companies. In addition, EBITDA does not represent funds available for discretionary use. The following reconciles EBITDA to our income from continuing operations for the periods indicated. |
For the period April 1, 2010 | ||||
(commencement of operations) | ||||
through December 31, 2010 | ||||
Loss from continuing operations |
$ | (1,709,600 | ) | |
Plus depletion |
1,549,400 | |||
EBITDA |
$ | (160,200 | ) | |
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| well tending, routine maintenance and adjustment; | ||
| reading meters, recording production, pumping, maintaining appropriate books and records; and | ||
| preparation of reports for us and government agencies. | ||
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For the Period April 1, 2010 | ||||
(commencement of operations) | ||||
through December 31, 2010 | ||||
Revenues (in thousands): |
||||
Gas(1) |
$ | 2,160 | ||
Oil |
$ | | ||
Production volumes: |
||||
Gas (thousands of cubic feet (mcf)/day) |
2,177 | |||
Oil (barrels (bbls)/day) |
| |||
Average sales price: |
||||
Gas (per mcf) |
$ | 4.72 | ||
Oil (per bbl) |
$ | | ||
Production costs: |
||||
As a percent of sales |
46 | % | ||
Per equivalent mcf |
$ | 2.19 | ||
Depletion per mcfe |
$ | 4.90 |
(1) | Excludes sales of residual gas and sales to landowners. |
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ITEM 3. | PROPERTIES. |
Development Wells | ||||||||||||||||
Productive (1) | Dry (2) | |||||||||||||||
Gross (3) | Net (4) | Gross (3) | Net (4) | |||||||||||||
Period Ending December 31, 2010 |
52.00 | 45.03 | 7.00 | 6.55 |
(1) | A productive well generally means a well that is not a dry hole. | |
(2) | A dry hole generally means a well found to be incapable of producing either oil or natural gas in sufficient quantities to justify completion as an oil or natural gas well. The term completion refers to the installation of permanent equipment for the production of oil or natural gas or, in the case of a dry hole, to the reporting of abandonment to the appropriate agency. | |
(3) | A gross well is a well in which we own a working interest. | |
(4) | A net well equals the actual working interest we own in one gross well divided by one hundred. For example, a 50% working interest in a well is one gross well, but a .50 net well. |
Location | Gross | Net | ||||||
Colorado |
6 | 6.00 | ||||||
Indiana |
41 | 34.26 | ||||||
Michigan |
5 | 4.77 | ||||||
Total |
52 | 45.03 | ||||||
Production | Average Sales Price | |||||||||||||||||||
Period from First | Average Production | |||||||||||||||||||
Production to December | Gas | Cost (Lifting Cost) | ||||||||||||||||||
31, 2010 | Oil (bbls) | (mcf) | per bbl | per mcf (1) | per mcfe (1)(2) | |||||||||||||||
| 457,100 | $ | | $ | 4.72 | $ | 2.19 |
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(1) | Mcf means one thousand cubic feet of natural gas. Mcfe means one thousand cubic feet equivalent. | |
Bbl means one barrel of oil. Oil production is converted to mcfe at the rate of six mcf per barrel (bbl). | ||
(2) | Production costs include labor to operate the wells and related equipment, repairs and maintenance, materials and supplies, property taxes, severance taxes, insurance, gathering charges and production overhead. |
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December 31, 2010 | ||||
Natural gas reserves Proved Reserves (Mcf)(1)(4): |
||||
Total proved reserves of natural gas |
24,651,600 | |||
Oil reserves Proved Reserves (Bbl)(1)(4) |
||||
Total proved reserves of oil |
0 | |||
Total proved reserves (Mcfe) |
24,651,600 | |||
PV-10 estimate of cash flows of proved reserves (3)(4): |
||||
Total PV-10 estimate |
$ | 25,239,900 | ||
(1) | Proved Reserves generally means those quantities of oil and gas, which, by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be economically producible, from a given date forward, from known reservoirs, and under existing economic conditions, operating methods, and government regulations, prior to the time at which contracts providing the right to operate expire, unless evidence indicates that renewal is reasonably certain, regardless of whether deterministic or probabilistic methods are used for the estimation. The project to extract the hydrocarbons must have commenced or the operator must be reasonably certain that it will commence the project within a reasonable time. | |
(2) | Developed reserves generally means reserves of any category that can be expected to be recovered through existing wells with existing equipment and operating methods or in which the cost of the required equipment is relatively minor compared to the cost of a new well. | |
(3) | The present value of estimated future net cash flows is calculated by discounting estimated future net cash flows by 10% annually. | |
(4) | Please see Rule 4-10 of SEC Regulation S-X for complete definitions of each reserve category, including undeveloped reserves. |
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| liens incident to operating agreements; |
| taxes; |
| development obligations under natural gas and oil leases; |
| farm-out arrangements; and |
| other encumbrances, easements and restrictions. |
Developed Acreage | Undeveloped Acreage (3) | |||||||||||||||
Location | Gross (1) | Net (2) | Gross (1) | Net (2) | ||||||||||||
Pennsylvania |
13.27 | 13.27 | | | ||||||||||||
Indiana |
9,120.00 | 7,995.20 | 1,280 | 1,222.40 | ||||||||||||
Michigan |
560.00 | 542.40 | 160 | 160.00 | ||||||||||||
Colorado |
1,720.00 | 1,720.00 | | | ||||||||||||
Total |
11,413.27 | 10,270.87 | 1,440 | 1,382.40 | ||||||||||||
(1) | A gross acre is an acre in which we own a working interest. | |
(2) | A net acre equals the actual working interest we own in one gross acre divided by one hundred. For example, a 50% working interest in an acre is one gross acre, but a .50 net acre. | |
(3) | Undeveloped acreage means those lease acres on which wells have not been drilled or completed to a point that would permit the production of commercial quantities of natural gas and oil regardless of whether or not the acreage contains proved reserves. |
ITEM 4. | SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT. |
| our managing general partner and its affiliates; | ||
| beneficial owners of 5% or more of our Units; |
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| our managing general partners executive officers and directors; and |
| all of the executive officers and directors of our managing general partner as a group. |
Units | ||||||||
Amount and Nature | ||||||||
of Beneficial | ||||||||
Beneficial Owner | Ownership | Percent of Class | ||||||
MANAGING GENERAL PARTNER |
||||||||
Atlas Resources, LLC |
0 | 0 | % | |||||
Its Affiliates |
0 | 0 | % | |||||
DIRECTORS AND EXECUTIVE OFFICERS |
||||||||
Freddie M. Kotek |
0 | 0 | % | |||||
Jeffrey C. Simmons |
0 | 0 | % | |||||
NON-DIRECTOR EXECUTIVE OFFICERS |
||||||||
Jack L. Hollander |
0 | 0 | % | |||||
Matthew A. Jones |
0 | 0 | % | |||||
Sean P. McGrath |
0 | 0 | % | |||||
Marci F. Bleichmar |
0 | 0 | % | |||||
Karen A. Black |
0 | 0 | % | |||||
Justin T. Atkinson |
0 | 0 | % | |||||
All executive officers and directors as a group |
0 | 0 | % | |||||
OTHER OWNERS OF MORE THAN 5% OF OUTSTANDING
UNITS |
||||||||
None |
0 | 0 | % |
ITEM 5. | DIRECTORS AND EXECUTIVE OFFICERS |
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| Atlas Energy, Inc., Atlas Energy and our managing general partner, entered into a Pennsylvania Operating Services Agreement, dated as of February 17, 2011 (the Pennsylvania Operating Agreement), pursuant to which Atlas Energy, Inc. will provide Atlas Energy and our managing general partner and their respective subsidiaries, including drilling partnerships managed by subsidiaries of Atlas Energy, which includes us, certain operational services including, among others, gas volumetric control, measurement and balancing services and water disposal services with respect to certain wells in Pennsylvania (the Pennsylvania Services) in exchange for specified fees. Atlas Energy will indemnify Atlas Energy, Inc. against all claims and liabilities arising out of its provision of services under the Pennsylvania Operating Agreement. | ||
Atlas Energy, Inc. will provide the Pennsylvania Services for three years from February 17, 2011, and from month-to-month thereafter until cancelled by either Atlas Energy, Inc., Atlas Energy or our managing general partner. Atlas Energy may terminate the Pennsylvania Services or terminate the Pennsylvania Operating Agreement at any time. Atlas Energy, Inc., Atlas Energy and our managing general partner may agree to terminate the Pennsylvania Operating Agreement at any time, and each of Atlas Energy, Inc., on the one hand, or Atlas Energy or our managing general partner, on the other hand, may terminate the Pennsylvania Operating Agreement following an uncured material breach by such other party. | |||
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| Atlas Energy, Inc. and Atlas Energy entered into a Petro-Technical Services Agreement, dated as of February 17, 2011 (the Petro-Technical Services Agreement), pursuant to which Atlas Energy, Inc. will perform for Atlas Energy certain consulting services including, among others, planning, designing, drilling, stimulating, completing and equipping wells (the Petro-Technical Services). Atlas Energy will be obligated to pay the actual costs incurred by Atlas Energy, Inc. in the performance of the Petro-Technical Services, up to a maximum of the market rate for the same or similar services in Pittsburgh, Pennsylvania or Traverse City, Michigan, depending on the location of the well. Atlas Energy will indemnify Atlas Energy, Inc. against all claims and liabilities arising out of its provision of services under the Petro-Technical Services Agreement. Atlas Energy, Inc. will provide the Petro-Technical Services for one year from February 17, 2011 and from month-to-month thereafter until the earlier of (1) cancellation by Atlas Energy, Inc., Atlas Energy or our managing general partner or (2) eighteen months after February 17, 2011. Atlas Energy may terminate the Petro-Technical Services Agreement at any time. Atlas Energy, Inc., Atlas Energy and our managing general partner may agree to terminate the Petro-Technical Services Agreement at any time, and each of Atlas Energy, Inc., on the one hand, or Atlas Energy or our managing general partner, on the other hand, may terminate the Petro-Technical Services Agreement following an uncured material breach by such other party. | ||
| Viking Resources, LLC (Viking) and Resource Energy, LLC (Resource Energy and, together with our managing general partner and Viking, the Gas Marketing Parties), entered into a Base Contract for the Sale and Purchase of Natural Gas with Chevron Natural Gas, a division of Chevron USA Inc. (Chevron Natural Gas), dated as of November 8, 2010 (the Gas Marketing Agreement). Each of our managing general partner, Viking and Resource Energy were subsidiaries of Atlas Energy, Inc. at the time the Gas Marketing Agreement was entered into and were sold to Atlas Energy pursuant to the Transaction Agreement. Pursuant to the Gas Marketing Agreement, the Gas Marketing Parties will sell gas to Chevron Natural Gas. Under the Gas Marketing Agreement, the Gas Marketing Parties are responsible for transporting the gas to specified delivery points in southwest Pennsylvania, at which points Chevron Natural Gas will assume responsibility for the purchased gas. The Gas Marketing Agreement will terminate upon the expiration of the latest period for which the parties have agreed to make deliveries or upon 30 days written notice of any party to the Gas Marketing Agreement. | ||
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NAME | AGE | POSITION OR OFFICE | ||
Freddie M. Kotek |
55 | Chairman of the Board of Directors, Chief Executive Officer and President | ||
Matthew A. Jones |
49 | Chief Operating Officer | ||
Sean P. McGrath |
40 | Chief Financial Officer | ||
Jeffrey C. Simmons |
52 | Executive Vice President Operations and a Director | ||
Jack L. Hollander |
55 | Executive Vice President | ||
Daniel C. Herz |
34 | Executive Vice President | ||
Marci F. Bleichmar |
40 | Executive Vice President | ||
Sharon Miller |
47 | Chief Accounting Officer | ||
Lisa Washington |
43 | Chief Legal Officer and Secretary | ||
Karen A. Black |
50 | Senior Vice President | ||
Justin T. Atkinson |
38 | Senior Vice President | ||
William A. Ulrich |
28 | Senior Vice President | ||
Todd Norvaisa |
43 | Vice President | ||
Robert D. Black |
36 | Vice President | ||
Kathleen S. Dvorsky |
52 | Vice President | ||
Rebecca M. Hood |
37 | Vice President |
45
46
47
48
49
NAME | AGE | POSITION | ||
Edward E. Cohen |
72 | Chief Executive Officer, President and Director | ||
Jonathan Z. Cohen |
40 | Chairman of the Board | ||
Sean P. McGrath |
39 | Chief Financial Officer | ||
Matthew A. Jones |
49 | Senior Vice President, and President and Chief Operating Officer of Exploration and Production Division |
||
Carlton M. Arrendell |
49 | Director | ||
Mark C. Biderman |
65 | Director | ||
Dennis A. Holtz |
70 | Director | ||
Ellen F. Warren |
54 | Director | ||
William G. Karis |
63 | Director | ||
Harvey G. Magarick |
71 | Director |
50
51
NAME | AGE | POSITION | ||
Jonathan Z. Cohen |
40 | Chief Executive Officer | ||
Sean P. McGrath |
39 | Chief Financial Officer |
52
| it will be proportionately reduced to the extent we acquire less than 100% of the working interest in the well; and | ||
| it will not be received for plugged or abandoned wells. | ||
ITEM 7. | CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS. |
53
| the transfer of leases from our managing general partner to us concerning the amount of acreage that must be transferred in the prospect to us, subject to the third bullet point below; | ||
| the possible payment of compensation by another investment partnership sponsored by our managing general partner to us if our managing general partner determines that there is encroachment on one of our horizontal wells by a horizontal well drilled by the other investment partnership and the result is drainage from our well, and the possible payment of compensation by us to the another investment partnership sponsored by our managing general partner if our managing general partner determines that there is encroachment on the previous investment partnerships horizontal well by one of our horizontal wells and the result is drainage from the other partnerships well; |
| with the exception of an affiliated partnership, the transfer to us of less than our managing general partners and its affiliates entire interest in the prospect, but only if: | ||
| the interest retained by our managing general partner or the affiliate is a proportionate working interest; | ||
| the respective obligations of our managing general partner or its affiliates and us are substantially the same after the sale of the interest by our managing general partner or its affiliates; and | ||
| our managing general partners interest in revenues does not exceed the amount proportionate to its retained working interest; | ||
| with the exception of an affiliated partnership, our managing general partner and its affiliates may not purchase any undeveloped leases from us other than at the higher of cost or fair market value, other than a well that is plugged and abandoned after it is depleted, which may be assigned by us to our managing general partner in return for a cash payment or an interest in the prospect as determined by our managing general partner, consistent with its fiduciary duty to us; | ||
| the requirement that property transactions between us and our managing general partner must be fair and reasonable; |
| any transfer of an undeveloped lease from us to another drilling partnership sponsored by our managing general partner must be made at fair market value if we have held the undeveloped lease for more than two years, otherwise, if our managing general partner deems it to be in our best interest, the transfer may be made at cost, and an affiliated income partnership may purchase a producing well from us at any time at: | ||
| fair market value if the well has been held by us for more than six months or we have made significant expenditures in connection with the well; or | ||
54
| cost, as adjusted for intervening operations, if our managing general partner deems it to be in our best interest, but these prohibitions do not apply to joint ventures or farmouts among affiliated partnerships, provided that: | ||
| the respective obligations and revenue sharing of all parties to the transaction are substantially the same; and | ||
| the compensation arrangement or any other interest or right of either our managing general partner or its affiliates is the same in each affiliated partnership or if different, the aggregate compensation of our managing general partner or the affiliate is reduced to reflect the lower compensation arrangement; | ||
| the sale of all or substantially all of our assets, but only with the consent of our participants who own a majority of our outstanding Units; | ||
| our managing general partner and its affiliates may provide oil field, equipage, or other services to us, or sell or lease to us equipment or related supplies to us, only at competitive rates; | ||
| loans from our managing general partner to us may not exceed 5% of our offering proceeds and interest on the loans may not exceed our managing general partners interest cost, and no loans are permitted from us to our managing general partner or its affiliates; | ||
| we may farmout an undeveloped lease or well activity only if our managing general partner, determines that: | ||
| we lack the funds to complete the oil and gas operations on the lease or well and cannot obtain suitable financing; | ||
| drilling on the lease or the intended well activity would concentrate excessive funds in one location, creating undue risks to us; | ||
| the leases or well activity have been downgraded by events occurring after assignment to us so that development of the leases or well activity would not be desirable; or | ||
| our best interests would be served; and | ||
| our managing general partner must retain our behalf of the economic interests and concessions as a reasonably prudent oil and gas operator would or could retain; | ||
| commitments of our future production may not be made by our managing general partner or its affiliates exclusively for their own benefit; | ||
| all benefits from gas marketing arrangements affecting our managing general partner or its affiliates and us must be fairly and equitably apportioned according to the respective interests of each based on actual production, consistent with past practice; | ||
| advance payments from us to our managing general partner are prohibited except when required to secure the benefits of prepaid intangible drilling costs for a business purpose; | ||
| our participation in other partnerships may not: | ||
| result in any duplication or increase in any of fees and costs charged to us; | ||
| substantively alter the fiduciary and contractual relationship between our managing general partner and our participants; or | ||
| diminish the voting rights of our participants; | ||
55
| in connection with a proposed roll-up: | ||
| our participants who vote no on a proposed roll-up shall be offered the choice of: | ||
| accepting the securities of the roll-up entity; | ||
| remaining as participants in us on the same terms; or | ||
| receiving cash in an amount equal to the participants pro rata share of our appraised value of the net assets based on their respective number of Units; and | ||
| we may not participate in the roll-up must be approved by our participants whose Units equal a majority of our total Units. See Item 11 Description of Registrants Securities to be Registered Restrictions on Roll-Up Transactions beginning on page 67 for a more detailed discussion of roll-up transactions. | ||
56
57
ITEM 8. | LEGAL PROCEEDINGS. |
ITEM 9. | MARKET PRICE OF AND DIVIDENDS ON THE REGISTRANTS COMMON EQUITY AND RELATED STOCKHOLDER MATTERS |
58
| repayment of borrowings; |
| cost overruns; |
| remedial work to improve a wells producing capability, including additional fracs in the Marcellus Shale; |
| direct costs and our general and administrative expenses; |
| reserves, including a reserve for the estimated costs of eventually plugging and abandoning our wells; or |
| indemnification of our managing general partner and its affiliates for losses or liabilities incurred in connection with our activities. |
ITEM 10. | RECENT SALES OF UNREGISTERED SECURITIES. |
59
ITEM 11. | DESCRIPTION OF REGISTRANTS SECURITIES TO BE REGISTERED. |
| determine which leases are developed or abandoned; | ||
| negotiate and execute any contracts or other instruments on our behalf, including the drilling and operating agreement; | ||
| enter into hedging agreements on our behalf with respect to our natural gas and oil production; | ||
| select both affiliated and third-party consultants and contractors and the determine their compensation and other terms of employment or hiring, which compensation may not exceed competitive rates with respect to affiliates of our managing general partner; | ||
| obtain and maintain insurance for our benefit as it deems necessary; | ||
| use our subscription proceeds and revenues, on any terms it sees fit, for the conduct or financing, in whole or in part, of our drilling and other activities; and | ||
| sell, exchange, release or abandon any or all of our assets, including without limitation, leases, wells, equipment and production therefrom, provided that the sale of all or substantially all of our assets shall only be made with the consent of our participants who own a majority of our outstanding Units. | ||
| they determined in good faith that the course of conduct was in our best interest; | ||
| they were acting on behalf of, or performing services for us; and | ||
| their course of conduct did not constitute negligence or misconduct. | ||
60
| also invested in us as an investor general partner; |
| takes part in the control of our business in addition to the exercise of a participants rights and powers as a limited partner; or |
| fails to make a required capital contribution to the extent of the required capital contribution, which is not required, however, unless the limited partner also invests as an investor general partner and we incur a liability for which the limited partners allocable share exceeds his or her pro rata portion of our undistributed assets and insurance proceeds, if any, and our managing general partners indemnification of the investor general partners for such liabilities as discussed below. | ||
61
| the election to terminate us by our managing general partner or the affirmative vote of our participants whose Units equal a majority of our total Units; |
| our termination under Section 708(b)(1)(A) of the Internal Revenue Code because no part of our business is being carried on; or |
| we cease to be a going concern. |
62
| an opinion of counsel acceptable to our managing general partner that the transfer of the Unit does not require registration and qualification under the Securities Act of 1933 and applicable state securities laws, unless this requirement is waived by our managing general partner; and |
| a determination under the tax laws that a transfer of the Unit would not, in the opinion of our counsel, result in our termination for tax purposes or our being treated as a publicly-traded partnership for tax purposes. |
| except as provided by operation of law, we will recognize the transfer of only one or more whole Units unless the participant making the transfer owns less than a whole Unit, in which case the entire fractional interest in the Unit must be transferred; |
| the costs and expenses associated with the transfer must be paid by the participant transferring the Unit; |
| the form of transfer must be in a form satisfactory to our managing general partner; and |
| the terms of the transfer must not contravene those of our partnership agreement. |
63
| the assignor (transferor) gives the assignee the right; |
| our managing general partner consents to the substitution; |
| the assignee pays all costs and expenses incurred in connection with the substitution; and |
| the assignee executes and delivers, in a form acceptable to our managing general partner, the instruments necessary to establish that a legal transfer has taken place and to confirm his or her agreement to be bound by all terms and provisions of the partnership agreement. |
64
| three times the amount of our total distributions to a participant during the previous twelve months; or |
| the amount that is generally attributable to the participants share of our natural gas and oil reserves, as discussed below. |
| an amount based on 70% of the present worth of future net revenues from our proved reserves as described our most recent reserve report as described above; |
| cash on hand; |
| prepaid expenses and accounts receivable, less a reasonable amount for doubtful accounts; and |
| the estimated market value of all assets not separately specified above, determined in accordance with standard industry valuation procedures. |
| an amount equal to the participants share of all debts, obligations, and other liabilities, including accrued expenses; and |
| any distributions made to the participant between the date of the request and the actual payment. However, if any cash distributed was derived from the sale, after the presentment request, of oil, natural gas, or a producing property, for purposes of determining the reduction of the presentment price the distributions will be discounted at the same rate used to take into account the risk factors employed to determine the present worth of our proved reserves. |
65
| dissolve us; |
| remove our managing general partner and elect a new managing general partner; |
| elect a new managing general partner if our managing general partner elects to withdraw from the partnership; |
| remove the operator and elect a new operator; |
| approve or disapprove the sale of all or substantially all of our assets; |
| cancel any contract for services with our managing general partner, the operator, or their affiliates, which is not otherwise described in the private placement memorandum for the offering of our Units or our partnership agreement without penalty on 60 days notice; and |
| amend our partnership agreement; provided however, any amendment may not: |
| without the approval of our participants or our managing general partner, increase the duties or liabilities of the participants or our managing general partner or increase or decrease the profits or losses or required capital contribution of our participants or our managing general partner; or |
| without the unanimous approval of our participants, affect the classification of our income and loss for federal income tax purposes. |
| an alphabetical list of the names, addresses, and business telephone numbers of our participants along with the number of Units held by each of them (the Participant List) must be maintained as a part of our books and records and be available for inspection by any participant or his designated agent at our home office on the participants request; |
| the Participant List must be updated at least quarterly to reflect changes in the information contained in the Participant List; |
| a copy of the Participant List must be mailed to any participant requesting the Participant List within 10 days of the written request; |
66
| the purposes for which a participant may request a copy of the Participant List include, without limitation, matters relating to the participants voting rights under our partnership agreement and the exercise of participants rights under the federal proxy laws; and |
| our managing general partner may refuse to exhibit, produce, or mail a copy of the Participant List as requested if our managing general partner believes that the actual purpose and reason for the request for inspection or for a copy of the Participant List is to secure the list or other information for the purpose of selling the list or information or copies of the list, or of using the same for a commercial purpose other than in the interest of the applicant as a participant relative to our affairs. Our managing general partner will require the participant requesting the Participant List to represent in writing that the list was not requested for a commercial purpose unrelated to the participants interest in us. |
| a transaction involving our securities that have been listed on a national securities exchange or included for quotation on Nasdaq National Market System for at least 12 months; or |
| a transaction involving only our conversion to corporate, trust, or association form if, as a consequence of the transaction, there will be no significant adverse change in any of the following: voting rights; the term of our existence; compensation to our managing general partner; or our investment objectives. |
| accepting the securities of the Roll-up Entity offered in the proposed Roll-up Transaction; or |
| one of the following: |
| remaining as participants in us and preserving their interests in us on the same terms and conditions as existed previously, or |
| receiving cash in an amount equal to each participants pro rata share of the appraised value of our net assets. |
67
| which would result in the diminishment of any participants voting rights under the Roll-up Entitys chartering agreement or limit the ability of a participant to exercise the voting rights of its securities of the Roll-up Entity on the basis of the number of our Units held by the participant; |
| in which the democracy rights of our participants in the Roll-up Entity would be less than those provided for under §§4.03(c)(1) and 4.03(c)(2) of our partnership agreement or, if the Roll-up Entity is a corporation, then the democracy rights of our participants must correspond to the democracy rights provided for our participants in our partnership agreement to the greatest extent possible; |
| which includes provisions that would operate to materially impede or frustrate the accumulation of shares by any purchaser of the securities of the Roll-up Entity, except to the minimum extent necessary to preserve the tax status of the Roll-up Entity; |
| in which our participants rights of access to the records of the Roll-up Entity would be less than those provided for under §§4.03(b)(5), 4.03(b)(6) and 4.03(b)(7) of our partnership agreement; |
| in which any of the costs of the transaction would be borne by us if our participants whose Units equal a majority of our total Units do not vote to approve the proposed Roll-Up Transaction; and |
| unless the Roll-up Transaction is approved by our participants whose Units equal a majority of our total Units. |
68
| The operator may be replaced at any time on 60 days advance written notice by our managing general partner acting on our behalf on the affirmative vote of investors whose Units equal a majority of our total outstanding Units. | ||
| The operator may resign as operator after five years without our consent. | ||
| The operator has the right, beginning one year after each of our wells begins producing, to retain $200 per month to cover its estimate of our future plugging and abandonment costs of the well. | ||
| The operator has a first lien and security interest in the wells and related production to secure payment of amounts due to the operator by us. | ||
| The operator must obtain and maintain workmens compensation insurance as required under applicable state law and comprehensive general public liability insurance of not less than $1 million per person per occurrence for personal injury or death and $1 million for property damage per occurrence, including blow-outs, and total liability coverage of not less than $10 million. | ||
| The operator is not permitted to incur extraordinary costs with respect to producing wells in excess of $5,000 per well, unless necessary to safeguard persons or property or to protect a well if there is a sudden emergency. | ||
| We may not transfer our interest in fewer than all of our wells unless the transfer is of an equal undivided interest in all of the wells. | ||
| The operator will not have any liability for any loss suffered by us or our participants which arises out of any action or inaction of the operator if the operator determined in good faith that the course of conduct was in our best interest, the operator was performing services for us and the operators course of conduct did not constitute negligence or misconduct. | ||
ITEM 12. | INDEMNIFICATION OF DIRECTORS AND OFFICERS. |
| they determined in good faith that the course of conduct was in our best interest; |
| they were acting on our behalf or performing services for us; and |
| their course of conduct did not constitute negligence or misconduct. |
69
ITEM 13. | FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA. |
Page | ||||
71 | ||||
72 | ||||
73 | ||||
74 | ||||
75 | ||||
76 | ||||
77 | ||||
ATLAS RESOURCES SERIES 28-2010 L.P. FINANCIAL STATEMENTS |
||||
91 | ||||
92 | ||||
93 | ||||
94 | ||||
95 |
70
71
2010 | ||||
ASSETS |
||||
Current assets: |
||||
Cash and cash equivalents |
$ | | ||
Accounts receivable-affiliate |
1,153,700 | |||
Short-term hedge receivable due from affiliate |
1,325,500 | |||
Total current assets |
2,479,200 | |||
Oil and gas properties, net |
100,874,300 | |||
Construction in progress |
65,071,800 | |||
Long-term hedge receivable due from affiliate |
1,665,800 | |||
$ | 170,091,100 | |||
LIABILITIES AND PARTNERS CAPITAL |
||||
Current liabilities: |
||||
Accrued liabilities |
$ | 34,900 | ||
Short-term hedge liability due to affiliate |
4,300 | |||
Total current liabilities |
39,200 | |||
Asset retirement obligations |
1,407,800 | |||
Long-term hedge liability due to affiliate |
162,300 | |||
Partners capital: |
||||
Managing general partner |
17,468,800 | |||
Limited partners (7,500 units) |
148,188,300 | |||
Accumulated other comprehensive income |
2,824,700 | |||
Total partners capital |
168,481,800 | |||
$ | 170,091,100 | |||
72
2010 | ||||
REVENUES |
||||
Natural gas |
$ | 2,159,900 | ||
Total revenues |
2,159,900 | |||
COST AND EXPENSES |
||||
Production |
1,000,600 | |||
Depletion |
1,549,400 | |||
Dry hole costs |
1,279,000 | |||
General and administrative |
40,500 | |||
Total expenses |
3,869,500 | |||
Net loss |
$ | (1,709,600 | ) | |
Allocation of net loss: |
||||
Managing general partner |
$ | (173,300 | ) | |
Limited partners |
$ | (1,536,300 | ) | |
Net loss per investor partnership unit |
$ | (205 | ) | |
73
2010 | ||||
Net loss |
$ | (1,709,600 | ) | |
Other comprehensive income: |
||||
Unrealized holding gain on hedging contracts |
3,013,200 | |||
Less: reclassification adjustment for gains realized in net loss |
(188,500 | ) | ||
Total other comprehensive income |
2,824,700 | |||
Comprehensive income |
$ | 1,115,100 | ||
74
Accumulated | ||||||||||||||||
Managing | Other | |||||||||||||||
General | Limited | Comprehensive | ||||||||||||||
Partner | Partners | Income | Total | |||||||||||||
Balance at April 1, 2010 |
$ | 100 | $ | | $ | | $ | 100 | ||||||||
Partners capital contributions: |
||||||||||||||||
Capital contribution |
| 149,724,600 | | 149,724,600 | ||||||||||||
Syndication and offering costs |
16,267,000 | | | 16,267,000 | ||||||||||||
Tangible equipment/leasehold costs |
17,642,100 | | | 17,642,100 | ||||||||||||
Total contributions |
33,909,100 | 149,724,600 | | 183,633,700 | ||||||||||||
Syndication and offering costs, immediately
charged to capital |
(16,267,000 | ) | | | (16,267,000 | ) | ||||||||||
17,642,100 | 149,724,600 | | 167,366,700 | |||||||||||||
Participation in revenue and costs and expenses: |
||||||||||||||||
Net production revenues |
391,300 | 768,000 | | 1,159,300 | ||||||||||||
Depletion |
(408,300 | ) | (1,141,100 | ) | | (1,549,400 | ) | |||||||||
Dry hole costs |
(142,600 | ) | (1,136,400 | ) | | (1,279,000 | ) | |||||||||
General and administrative |
(13,700 | ) | (26,800 | ) | | (40,500 | ) | |||||||||
Net loss |
(173,300 | ) | (1,536,300 | ) | | (1,709,600 | ) | |||||||||
Other comprehensive income |
| | 2,824,700 | 2,824,700 | ||||||||||||
Initial capital contribution returned |
(100 | ) | | | (100 | ) | ||||||||||
Balance at December 31, 2010 |
$ | 17,468,800 | $ | 148,188,300 | $ | 2,824,700 | $ | 168,481,800 | ||||||||
75
2010 | ||||
Cash flows from operating activities: |
||||
Net loss |
$ | (1,709,600 | ) | |
Adjustments to reconcile net loss to net cash used in
operating activities: |
||||
Depletion |
1,549,400 | |||
Dry hole costs |
1,279,000 | |||
Increase in accounts receivable-affiliate |
(1,153,700 | ) | ||
Increase in accrued liabilities |
34,900 | |||
Net cash provided by operating activities |
| |||
Cash flows from investing activities: |
||||
Oil and gas well drilling contracts paid to MGP |
(149,724,600 | ) | ||
Net cash used in investing activities |
(149,724,600 | ) | ||
Cash flows from financing activities: |
||||
Partners capital contributions |
149,724,600 | |||
Net cash provided by financing activities |
149,724,600 | |||
Net increase in cash and cash equivalents |
| |||
Cash and cash equivalents at beginning of period |
| |||
Cash and cash equivalents at end of period |
$ | | ||
Supplemental Schedule of non-cash investing and financing
activities: |
||||
Assets contributed by the managing general partner: |
||||
Tangible equipment |
$ | 12,588,300 | ||
Lease costs |
5,053,800 | |||
Syndication and offering costs |
16,267,000 | |||
$ | 33,909,100 | |||
Asset retirement obligation |
$ | 1,407,800 | ||
76
77
78
79
80
81
Managing | ||||||||
General | Limited | |||||||
Partner | Partners | |||||||
Organization and offering costs |
100 | % | 0 | % | ||||
Lease costs |
100 | % | 0 | % | ||||
Revenues (1) |
33.75 | % | 66.25 | % | ||||
Operating costs, administrative costs, direct costs and all other operating costs (2) |
33.75 | % | 66.25 | % | ||||
Intangible drilling costs |
0 | % | 100 | % | ||||
Tangible equipment costs |
46 | % | 54 | % |
(1) | Subject to the MGPs subordination obligation, substantially all partnership revenues will be shared in the same percentage as capital contributions are to the total partnership capital contributions, except that the MGP will receive an additional 10% of the partnership revenues. | |
(2) | These costs will be charged to the partners in the same ratio as the related production revenues are credited. |
December 31, | ||||
2010 | ||||
Natural gas and oil properties: |
||||
Proved properties: |
||||
Leasehold interests |
$ | 4,812,700 | ||
Wells and related equipment |
96,906,300 | |||
101,719,000 | ||||
Accumulated depletion |
(844,700 | ) | ||
$ | 100,874,300 | |||
82
Period | ||||
Ended | ||||
December 31, | ||||
2010 | ||||
Asset retirement obligation at beginning of period |
$ | | ||
Liabilities incurred from drilling wells |
1,407,800 | |||
Asset retirement obligations at end of year |
$ | 1,407,800 | ||
83
Asset Derivatives | Liability Derivatives | |||||||||||
Derivatives in | Fair Value | Fair Value | ||||||||||
Cash Flow | Balance Sheet | December 31, | Balance Sheet | December 31, | ||||||||
Hedging Relationships | Location | 2010 | Location | 2010 | ||||||||
Commodity contracts: |
Current assets | $ | 1,325,500 | Current liabilities | $ | (4,300 | ) | |||||
Long-term assets | 1,665,800 | Long-term liabilities | (162,300 | ) | ||||||||
Total derivatives |
$ | 2,991,300 | $ | (166,600 | ) | |||||||
Gain | Gain | |||||||||
Recognized in OCI | Reclassified from OCI | |||||||||
on Derivative | Location of Gain | into Net Loss | ||||||||
(Effective Portion) | Reclassified from | (Effective Portion) | ||||||||
Derivatives in | Period Ended | Accumulated | Period Ended | |||||||
Cash Flow | December 31, | OCI into Loss | December 31, | |||||||
Hedging Relationships | 2010 | (Effective Portion) | 2010 | |||||||
Commodity contracts |
$ | 3,013,200 | Natural gas and oil revenue | $ | 188,500 | |||||
84
Production | Average | |||||||||||
Period Ending | Volumes | Fixed Price | Fair Value | |||||||||
December 31, | (MMbtu)(1) | (per MMbtu)(1) | Asset (2) | |||||||||
2011 |
302,200 | $ | 6.978 | $ | 813,600 | |||||||
2012 |
318,300 | 7.478 | 739,200 | |||||||||
2013 |
295,600 | 6.831 | 474,800 | |||||||||
2014 |
34,200 | 5.941 | 11,800 | |||||||||
$ | 2,039,400 | |||||||||||
85
Production | Average | |||||||||||||
Period Ending | Option | Volumes | Floor & Cap | Fair Value | ||||||||||
December 31, | Type | (MMbtu)(1) | (per MMbtu)(1) | Asset/(Liability) (2) | ||||||||||
2011 |
Puts purchased | 237,200 | $ | 6.544 | $ | 511,900 | ||||||||
2011 |
Calls sold | 237,200 | 7.662 | (4,300 | ) | |||||||||
2012 |
Puts purchased | 88,300 | 6.117 | 149,600 | ||||||||||
2012 |
Calls sold | 88,300 | 7.343 | (18,600 | ) | |||||||||
2013 |
Puts purchased | 137,200 | 5.862 | 197,900 | ||||||||||
2013 |
Calls sold | 137,200 | 7.045 | (88,300 | ) | |||||||||
2014 |
Puts purchased | 58,000 | 5.712 | 87,000 | ||||||||||
2014 |
Calls sold | 58,000 | 6.819 | (52,400 | ) | |||||||||
$ | 782,800 | |||||||||||||
Total Net Asset | $ | 2,822,200 | ||||||||||||
(1) | MMBTU represents million British Thermal Units. | |
(2) | Fair value based on forward NYMEX natural gas prices, as applicable. |
86
| Drilling contracts to drill and complete wells for the Partnership are charged at cost plus 18%. The cost of the wells includes reimbursement to the Partnerships MGP of its general and administrative overhead cost. The Partnership paid $149,724,600 to its MGP for the period ended December 31, 2010. |
| The Partnerships MGP contributed undeveloped leases necessary to cover each of the Partnerships prospects and as of December 31, 2010 received a credit to its capital account in the Partnership of $5,053,800. |
| Administrative costs which are included in general and administrative expenses in the Partnerships statement of operations are payable at $75 per well per month. Administrative costs incurred during the period ended December 31, 2010 were $12,100. |
| Monthly well supervision fees which are included in production expenses in the Partnerships statement of operations are payable at $975 per well per month for Marcellus wells, $1,500 per well per month for New Albany wells, $600 per well per month for horizontal Antrim Shale wells, and for Colorado wells, a fee of $400 is charged per well per month for operating and maintaining the wells. Well supervision fees incurred during the period ended December 31, 2010 were $222,300. |
| Transportation fees, which are included in production expenses in the Partnerships statement of operations, incurred during the period ended December 31, 2010 were $15,800. |
87
| Assets contributed from the MGP, which are disclosed on the Partnerships statement of cash flows as non-cash investing and financing activities, for the period ended December 31, 2010, were $17,642,100. |
| The MGP received a credit to its capital account of $16,267,000 for the period ended December 31, 2010 for fees, commissions and reimbursement costs to organize the Partnership. |
88
December 31, | ||||
2010 | ||||
Mineral interest in proved properties: |
$ | 4,812,700 | ||
Wells and related equipment |
96,906,300 | |||
Accumulated depletion |
(844,700 | ) | ||
Net capitalized cost |
$ | 100,874,300 | ||
Natural Gas | ||||
(Mcf) | ||||
Proved developed reserves: |
||||
Beginning of period |
| |||
Extensions, discoveries and other additions |
25,108,700 | |||
Production |
(457,100 | ) | ||
Balance at December 31, 2010 |
24,651,600 | |||
89
90
March 31, | December 31, | |||||||
2011 | 2010 | |||||||
(Unaudited) | ||||||||
ASSETS |
||||||||
Current assets: |
||||||||
Cash and cash equivalents |
$ | 288,800 | $ | | ||||
Accounts receivable affiliate |
3,225,000 | 1,153,700 | ||||||
Short-term hedge receivable due from affiliate |
| 1,325,500 | ||||||
Total current assets |
3,513,800 | 2,479,200 | ||||||
Oil and gas properties, net |
121,401,100 | 100,874,300 | ||||||
Construction in progress |
47,347,300 | 65,071,800 | ||||||
Long-term hedge receivable due from affiliate |
| 1,665,800 | ||||||
Long-term receivable due from affiliate |
1,320,100 | | ||||||
$ | 173,582,300 | $ | 170,091,100 | |||||
LIABILITIES AND PARTNERS CAPITAL |
||||||||
Current liabilities: |
||||||||
Accrued liabilities |
$ | 45,200 | $ | 34,900 | ||||
Short-term hedge liability due to affiliate |
| 4,300 | ||||||
Total current liabilities |
45,200 | 39,200 | ||||||
Asset retirement obligation |
1,662,100 | 1,407,800 | ||||||
Long-term hedge liability due to affiliate |
| 162,300 | ||||||
Partners capital: |
||||||||
Managing general partner |
21,487,300 | 17,468,800 | ||||||
Limited partners (7,500 units) |
147,976,700 | 148,188,300 | ||||||
Accumulated other comprehensive income |
2,411,000 | 2,824,700 | ||||||
Total partners capital |
171,875,000 | 168,481,800 | ||||||
$ | 173,582,300 | $ | 170,091,100 | |||||
91
Three Months Ended | ||||
March 31, | ||||
2011 | ||||
REVENUES |
||||
Natural gas |
$ | 2,872,200 | ||
Total revenues |
2,872,200 | |||
COSTS AND EXPENSES |
||||
Production |
1,034,200 | |||
Depletion |
1,404,900 | |||
Accretion of asset retirement obligation |
22,900 | |||
General and administrative |
24,000 | |||
Total costs and expenses |
2,486,000 | |||
Net income |
$ | 386,200 | ||
Allocation of net income: |
||||
Managing general partner |
$ | 230,000 | ||
Limited partners |
$ | 156,200 | ||
Net income per limited partnership unit |
$ | 21 | ||
92
Accumulated | ||||||||||||||||
Managing | Other | |||||||||||||||
General | Limited | Comprehensive | ||||||||||||||
Partner | Partners | Income (Loss) | Total | |||||||||||||
Balance at January 1, 2011 |
$ | 17,468,800 | $ | 148,188,300 | $ | 2,824,700 | $ | 168,481,800 | ||||||||
Partners capital contributions: |
||||||||||||||||
Syndication and offering costs |
6,500 | | | 6,500 | ||||||||||||
Tangible equipment/leasehold costs |
3,975,800 | | | 3,975,800 | ||||||||||||
Total contributions |
3,982,300 | | | 3,982,300 | ||||||||||||
Syndication and offerings, immediately
charged to capital |
(6,500 | ) | | | (6,500 | ) | ||||||||||
3,975,800 | | | 3,975,800 | |||||||||||||
Participation in revenues and expenses: |
||||||||||||||||
Net production revenues |
596,000 | 1,242,000 | | 1,838,000 | ||||||||||||
Depletion |
(350,100 | ) | (1,054,800 | ) | | (1,404,900 | ) | |||||||||
Accretion of asset retirement obligation |
(7,700 | ) | (15,200 | ) | | (22,900 | ) | |||||||||
General and administrative |
(8,200 | ) | (15,800 | ) | | (24,000 | ) | |||||||||
Net income |
230,000 | 156,200 | | 386,200 | ||||||||||||
Other comprehensive income |
| | (413,700 | ) | (413,700 | ) | ||||||||||
Distributions to partners |
(187,300 | ) | (367,800 | ) | | (555,100 | ) | |||||||||
Balance at March 31, 2011 |
$ | 21,487,300 | $ | 147,976,700 | $ | 2,411,000 | $ | 171,875,000 | ||||||||
93
Three Months Ended |
||||
March 31, 2011 | ||||
Cash flows from operating activities: |
||||
Net income |
$ | 386,200 | ||
Adjustments to reconcile net income to net cash provided by
operating activities: |
||||
Depletion |
1,404,900 | |||
Accretion of asset retirement obligation |
22,900 | |||
Increase in accounts receivable-affiliate |
(980,400 | ) | ||
Increase in accrued liabilities |
10,300 | |||
Net cash provided by operating activities |
843,900 | |||
Cash flows from financing activities: |
||||
Distribution to partners |
(555,100 | ) | ||
Net cash provided by financing activities |
(555,100 | ) | ||
Net income in cash and cash equivalents |
288,800 | |||
Cash and cash equivalents at beginning of period |
| |||
Cash and cash equivalents at end of period |
$ | 288,800 | ||
Supplemental Schedule of non-cash investing and financing activities: |
||||
Assets contributed by managing general partner: |
||||
Tangible drilling costs |
2,820,800 | |||
Lease costs |
1,155,000 | |||
Syndication and offering costs |
6,500 | |||
$ | 3,982,300 | |||
Asset retirement obligation |
$ | 231,400 | ||
94
95
March 31, | December 31, | |||||||
2011 | 2010 | |||||||
Proved properties: |
||||||||
Leasehold interests |
$ | 5,847,700 | $ | 4,812,700 | ||||
Wells and related equipment |
117,498,600 | 96,906,300 | ||||||
123,346,300 | 101,719,000 | |||||||
Accumulated depletion |
(1,945,200 | ) | (844,700 | ) | ||||
$ | 121,401,100 | $ | 100,874,300 | |||||
96
97
98
Three Months | ||||
Ended | ||||
March 31, 2011 | ||||
Asset retirement obligation at beginning of period |
$ | 1,407,800 | ||
Liabilities incurred from drilling wells |
231,400 | |||
Accretion expense |
22,900 | |||
Asset retirement obligation at end of period |
$ | 1,662,100 | ||
Three Months | ||||
Ended | ||||
March 31, 2011 | ||||
Net income |
$ | 386,200 | ||
Other comprehensive loss: |
||||
Unrealized holding loss on hedging contracts |
(123,700 | ) | ||
Less: reclassification adjustment for gains realized in net income |
(290,000 | ) | ||
Total other comprehensive loss |
(413,700 | ) | ||
Comprehensive loss |
$ | (27,500 | ) | |
99
100
Fair Value | ||||||
Balance Sheet | December 31, | |||||
Derivatives in Cash Flow Hedging Relationships | Location | 2010 | ||||
Derivative Commodity Contracts |
Current Assets | $ | 1,325,500 | |||
Long-Term Assets | 1,665,800 | |||||
2,991,300 | ||||||
Current liabilities | (4,300 | ) | ||||
Long-term liabilities | (162,300 | ) | ||||
(166,600 | ) | |||||
Total | $ | 2,824,700 | ||||
Loss | Location of Gain | Gain | ||||||||
Recognized in OCI | Reclassified from | Reclassified from OCI | ||||||||
on Derivative | Accumulated | into Net Income | ||||||||
Derivatives in | Period Ended | OCI into Loss | Period Ended | |||||||
Cash Flow | March 31, | March 31, | ||||||||
Hedging Relationships | 2010 | 2011 | ||||||||
Commodity contracts |
$ | (123,700 | ) | Natural gas and oil revenue | $ | 290,000 | ||||
101
| Monthly well supervision fees which are included in production expenses in the Partnerships Statement of Operations are payable at $975 per well, per month for Marcellus wells, $1,500 per well, per month for New Albany wells and, $600 per well, per month for horizontal Antrim Shale wells and for Colorado wells, a fee of $400 is charged per well, per month for operating and maintaining the wells. Well supervision fees incurred were $201,800 for the three months ended March 31, 2011. |
| Administrative costs which are included in general and administrative expenses in the Partnerships statement of operations are payable at $75 per well per month. Administrative costs incurred for the three months ended March 31, 2011 were $13,600. |
| Transportation fees, which are included in production expenses in the Partnerships statement of operations, incurred for the three months ended March 31, 2011 were $110,100. |
| Assets contributed from the MGP which are disclosed on the Partnerships statement of cash flows as a non-cash activity for the three months ended March 31, 2011 were $3,975,800. |
102
103
ITEM 14. | CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE. |
ITEM 15. | FINANCIAL STATEMENTS AND EXHIBITS |
(a) | The following documents are filed as part of this Form 10: |
1. | Financial Statements | ||
The financial statements of Atlas Resources Series 28-2010 L.P. as of December 31, 2010 are set forth in Item 13 Financial Statements and Supplementary Data beginning on page 72. | |||
2. | Exhibits |
Exhibit No. | Description | |||
4.1 | Certificate of Limited Partnership for Atlas Resources Series 28-2010 L.P. (1) |
|||
4.2 | Amended and Restated Certificate and Agreement of Limited Partnership for
Atlas Resources Series 28-2010 L.P. (1) |
|||
10.1 | Drilling and Operating Agreement for Atlas Resources Series 28-2010 L.P. |
|||
10.2 | Gas Gathering Agreement for Natural Gas on the Legacy Appalachian System
dated as of June 1, 2009 between Laurel Mountain Midstream, LLC and Atlas
America, LLC, Atlas Energy Resources, LLC, Atlas Energy Operating Company,
LLC, Atlas Noble LLC, Resource Energy, LLC, Viking Resources, LLC, Atlas
Pipeline Partners, L.P. and Atlas Pipeline Operating Partnership, L.P.
Specific terms in this exhibit have been redacted, as marked by three
asterisks (***), because confidential treatment for those terms has been
requested. The redacted material has been separately filed with the
Securities and Exchange Commission. (1) |
|||
10.3 | Gas Gathering Agreement for Natural Gas on the Expansion Gathering System
dated as of June 1, 2009 between Laurel Mountain Midstream, LLC and Atlas
America, LLC, Atlas Energy Resources, LLC, Atlas Energy Operating Company,
LLC, Atlas Noble LLC, Resource Energy, LLC, Viking Resources, LLC, Atlas
Pipeline Partners, L.P. and Atlas Pipeline Operating Partnership, L.P.
Specific terms in this exhibit have been redacted, as marked by three
asterisks (***), because confidential treatment for those terms has been
requested. The redacted material has been separately filed with the
Securities and Exchange Commission. (1) |
104
Exhibit No. | Description | |||
10.4 | Pennsylvania Operating Services Agreement dated as of February 17, 2011
between Atlas Energy, Inc., Atlas Pipeline Holdings, L.P. and Atlas
Resources, LLC. Specific terms in this exhibit have been redacted, as marked
by three asterisks (***), because confidential treatment for those terms has
been requested. The redacted material has been separately filed with the
Securities and Exchange Commission. (1) |
|||
10.5 | Petro-Technical Services Agreement, dated as of February 17, 2011 between
Atlas Energy, Inc. and Atlas Pipeline Holdings, L.P. Specific terms in this
exhibit have been redacted, as marked by three asterisks (***), because
confidential treatment for those terms has been requested. The redacted
material has been separately filed with the Securities and Exchange
Commission. (1) |
|||
10.6 | Base Contract for Sale and Purchase of Natural Gas dated as of November 8,
2010 between Chevron Natural Gas, a division of Chevron U.S.A. Inc. and Atlas
Resources, LLC, Viking Resources, LLC, and Resource Energy, LLC. Specific
terms in this exhibit have been redacted, as marked by three asterisks (***),
because confidential treatment for those terms has been requested. The
redacted material has been separately filed with the Securities and Exchange
Commission. (1) |
|||
10.7 | Amendment No. 1 to the Base Contract for Sale and Purchase of Natural Gas
dated as of November 8, 2010 between Chevron Natural Gas, a division of
Chevron U.S.A. Inc. and Atlas Resources, LLC, Viking Resources, LLC, and
Resource Energy, LLC, dated as of January 6, 2011. Specific terms in this
exhibit have been redacted, as marked by three asterisks (***), because
confidential treatment for those terms has been requested. The redacted
material has been separately filed with the Securities and Exchange
Commission. (1) |
|||
10.8 | Amendment No. 2 to the Base Contract for Sale and Purchase of Natural Gas
dated as of November 8, 2010 between Chevron Natural Gas, a division of
Chevron U.S.A. Inc. and Atlas Resources, LLC, Viking Resources, LLC, and
Resource Energy, LLC, dated as of February 2, 2011. Specific terms in this
exhibit have been redacted, as marked by three asterisks (***), because
confidential treatment for those terms has been requested. The redacted
material has been separately filed with the Securities and Exchange
Commission. (1) |
|||
10.9 | Transaction Confirmation, Supply Contract No. 0001, under Base Contract for
Sale and Purchase of Natural Gas dated as of November 8, 2010 between Chevron
Natural Gas, a division of Chevron U.S.A. Inc. and Atlas Resources, LLC,
Viking Resources, LLC, and Resource Energy, LLC, dated February 17, 2011.
Specific terms in this exhibit have been redacted, as marked by three
asterisks (***), because confidential treatment for those terms has been
requested. The redacted material has been separately filed with the
Securities and Exchange Commission. (1) |
(1) | Previously filed in the Registration Statement filed on April 29, 2011, and incorporated by reference. | |
105
| the Partnership is responsible for the adequacy and accuracy of the disclosure in the filing; | ||
| staff comments or changes to disclosure in response to staff comments do not foreclose the Commission from taking any action with respect to the filing; and | ||
| the Partnership may not assert staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States. | ||
106
ATLAS RESOURCES SERIES 28-2010 L.P. | ||||||
(Registrant) | ||||||
By: | Atlas Resources, LLC | |||||
Its Managing General Partner | ||||||
Date: June 16, 2011
|
By: | /s/ Freddie Kotek
|
||||
Chief Executive Officer and President | ||||||
107
Exhibit No. | Description | |||
4.1 | Certificate of Limited Partnership for Atlas Resources Series 28-2010 L.P. (1) |
|||
4.2 | Amended and Restated Certificate and Agreement of Limited Partnership for
Atlas Resources Series 28-2010 L.P. (1) |
|||
10.1 | Drilling and Operating Agreement for Atlas Resources Series 28-2010 L.P. |
|||
10.2 | Gas Gathering Agreement for Natural Gas on the Legacy Appalachian System
dated as of June 1, 2009 between Laurel Mountain Midstream, LLC and Atlas
America, LLC, Atlas Energy Resources, LLC, Atlas Energy Operating Company,
LLC, Atlas Noble LLC, Resource Energy, LLC, Viking Resources, LLC, Atlas
Pipeline Partners, L.P. and Atlas Pipeline Operating Partnership, L.P.
Specific terms in this exhibit have been redacted, as marked by three
asterisks (***), because confidential treatment for those terms has been
requested. The redacted material has been separately filed with the
Securities and Exchange Commission. (1) |
|||
10.3 | Gas Gathering Agreement for Natural Gas on the Expansion Gathering System
dated as of June 1, 2009 between Laurel Mountain Midstream, LLC and Atlas
America, LLC, Atlas Energy Resources, LLC, Atlas Energy Operating Company,
LLC, Atlas Noble LLC, Resource Energy, LLC, Viking Resources, LLC, Atlas
Pipeline Partners, L.P. and Atlas Pipeline Operating Partnership, L.P.
Specific terms in this exhibit have been redacted, as marked by three
asterisks (***), because confidential treatment for those terms has been
requested. The redacted material has been separately filed with the
Securities and Exchange Commission. (1) |
|||
10.4 | Pennsylvania Operating Services Agreement dated as of February 17, 2011
between Atlas Energy, Inc., Atlas Pipeline Holdings, L.P. and Atlas
Resources, LLC. Specific terms in this exhibit have been redacted, as marked
by three asterisks (***), because confidential treatment for those terms has
been requested. The redacted material has been separately filed with the
Securities and Exchange Commission. (1) |
|||
10.5 | Petro-Technical Services Agreement, dated as of February 17, 2011 between
Atlas Energy, Inc. and Atlas Pipeline Holdings, L.P. Specific terms in this
exhibit have been redacted, as marked by three asterisks (***), because
confidential treatment for those terms has been requested. The redacted
material has been separately filed with the Securities and Exchange
Commission. (1) |
|||
10.6 | Base Contract for Sale and Purchase of Natural Gas dated as of November 8,
2010 between Chevron Natural Gas, a division of Chevron U.S.A. Inc. and Atlas
Resources, LLC, Viking Resources, LLC, and Resource Energy, LLC. Specific
terms in this exhibit have been redacted, as marked by three asterisks (***),
because confidential treatment for those terms has been requested. The
redacted material has been separately filed with the Securities and Exchange
Commission. (1) |
108
Exhibit No. | Description | |||
10.7 | Amendment No. 1 to the Base Contract for Sale and Purchase of Natural Gas
dated as of November 8, 2010 between Chevron Natural Gas, a division of
Chevron U.S.A. Inc. and Atlas Resources, LLC, Viking Resources, LLC, and
Resource Energy, LLC, dated as of January 6, 2011. Specific terms in this
exhibit have been redacted, as marked by three asterisks (***), because
confidential treatment for those terms has been requested. The redacted
material has been separately filed with the Securities and Exchange
Commission. (1) |
|||
10.8 | Amendment No. 2 to the Base Contract for Sale and Purchase of Natural Gas
dated as of November 8, 2010 between Chevron Natural Gas, a division of
Chevron U.S.A. Inc. and Atlas Resources, LLC, Viking Resources, LLC, and
Resource Energy, LLC, dated as of February 2, 2011. Specific terms in this
exhibit have been redacted, as marked by three asterisks (***), because
confidential treatment for those terms has been requested. The redacted
material has been separately filed with the Securities and Exchange
Commission. (1) |
|||
10.9 | Transaction Confirmation, Supply Contract No. 0001, under Base Contract for
Sale and Purchase of Natural Gas dated as of November 8, 2010 between Chevron
Natural Gas, a division of Chevron U.S.A. Inc. and Atlas Resources, LLC,
Viking Resources, LLC, and Resource Energy, LLC, dated February 17, 2011.
Specific terms in this exhibit have been redacted, as marked by three
asterisks (***), because confidential treatment for those terms has been
requested. The redacted material has been separately filed with the
Securities and Exchange Commission. (1) |
(1) | Previously filed in the Registration Statement filed on April 29, 2011, and incorporated by reference. | |
109
Section | Page | |||
1. Assignment of Well Locations; Representations and Indemnification Associated with the Assignment of the Lease; Designation of
Additional Well Locations; Outside Activities Are Not Restricted |
1 | |||
2. Drilling of Wells; Timing; Depth; Interest of Developer; Right to Substitute Well Locations |
3 | |||
3. Operator Responsibilities in General; Covenants; Term |
4 | |||
4. Operators Charges for Drilling and Completing Wells; Payment; Completion Determination; Dry Hole Determination; Excess Funds and Cost
Overruns Intangible Drilling Costs; Excess Funds and Cost Overruns Tangible Costs |
5 | |||
5. Title Examination of Well Locations; Developers Acceptance and Liability; Additional Well Locations |
9 | |||
6. Operations Subsequent to Completion of the Wells; Fee Adjustments; Extraordinary Costs; Pipelines; Price
Determinations; Plugging and Abandonment |
9 | |||
7. Billing and Payment Procedure with Respect to Operation of Wells; Disbursements; Separate Account for Sale
Proceeds; Records and Reports; Additional Information |
12 | |||
8. Operators Lien; Right to Collect From Oil or Gas Purchaser |
13 | |||
9. Successors and Assigns; Transfers; Appointment of Agent |
14 | |||
10. Operators Insurance; Subcontractors Insurance; Operators Liability |
15 | |||
11. Internal Revenue Code Election; Relationship of Parties; Right to Take Production in Kind |
15 | |||
12. Effect of Force Majeure; Definition of Force Majeure; Limitation |
16 | |||
13. Term |
17 | |||
14. Governing Law; Invalidity |
17 | |||
15. Integration; Written Amendment |
17 | |||
16. Waiver of Default or Breach |
17 | |||
17. Notices |
18 | |||
18. Interpretation |
18 | |||
19. Counterparts |
18 |
Exhibit A
|
Description of Leases and Initial Well Locations | |
Exhibits A-l through A-_____
|
Maps of Initial Well Locations | |
Exhibit B
|
Form of Assignment | |
Exhibit C
|
Form of Addendum |
1. | Assignment of Well Locations; Representations and Indemnification Associated with the Assignment of the Lease; Designation of Additional Well Locations; Outside Activities Are Not Restricted. |
(a) | Assignment of Well Locations. The Operator shall execute an assignment of an undivided percentage of Working Interest in the Well Location for each well to the Developer as shown on Exhibit A attached hereto, which assignment shall be limited by the Operator to the Prospect which is defined as the minimum area permitted by state law or local practice on which one well may be drilled, which may be different for different Horizons. Subject to the foregoing sentence, Prospect shall be deemed: |
| the wellbore plus 125 feet on either side of the center line of a lateral in the well extending from the beginning of the first perforation to the end of the last perforation and from the bottom of the Tully zone to the bottom of the Marcellus Shale formation, in horizontal wells in the Marcellus Shale formation in western Pennsylvania; |
| the wellbore plus 125 feet on either side of the center line of a lateral in the well extending from the beginning of the first perforation or open hole section to the end of the last perforation or last open hole section and from the top of the Borden Shale zone to the bottom of the New Albany zone, in horizontal wells in the New Albany Shale reservoir in Indiana; |
| the wellbore plus 125 feet on either side of the center line of a lateral in the well extending from the beginning of the first perforation to the end of the last perforation and from the top of the Fort Payne zone to the bottom of the Chattanooga zone, in any horizontal wells in the Chattanooga Shale reservoir in Tennessee; |
| the wellbore plus 125 feet on either side of the center line of a lateral in the well extending from the beginning of the first perforation to the end of the last perforation and from the top of the Lachine Member to the bottom of the Antrim zone, in any horizontal wells in the Antrim Shale reservoir in Michigan; and |
1
(b) | Representations and Indemnification Associated with the Assignment of the Lease. With respect to the Lease assignements described in Section 1(a), the Operator represents and warrants to the Developer that: |
(i) | the Operator is the lawful owner of the Lease and rights and interest under the Lease and of the personal property on the Lease or used in connection with the Lease; | ||
(ii) | the Operator has good right and authority to sell and convey the rights, interest, and property; | ||
(iii) | the rights, interest, and property are free and clear from all liens and encumbrances; and | ||
(iv) | all rentals and royalties due and payable under the Lease have been duly paid. |
(c) | Designation of Additional Well Locations. If the parties hereto desire to designate Additional Well Locations to be developed in accordance with the terms and conditions of this Agreement, then the parties shall execute an addendum substantially in the form of Exhibit C attached to and made a part of this Agreement specifying: |
(i) | the undivided percentage of Working Interest and the Oil and Gas Leases to be included as Leases under this Agreement; |
(ii) | the amount and configuration of acreage included in each Additional Well Location on maps attached as exhibits to the addendum; and |
(iii) | their agreement that the Additional Well Locations shall be developed in accordance with the terms and conditions of this Agreement. |
(d) | Outside Activities Are Not Restricted. It is understood and agreed that the assignment of rights under the Leases and the oil and gas development activities contemplated by this Agreement relate only to the Initial Well Locations and the Additional Well Locations. Nothing contained in this Agreement shall be interpreted to restrict in any manner the right of each of the parties to conduct without the participation of the other party any additional activities relating to exploration, development, drilling, production, or delivery of oil and gas on lands adjacent to or in the immediate vicinity of the Well Locations or elsewhere. |
2
2. | Drilling of Wells; Timing; Depth; Interest of Developer; Right to Substitute Well Locations. |
(a) | Drilling of Wells. Operator, as Developers independent contractor, agrees to drill, complete (or plug) and operate One Hundred Twenty Seven (127) oil and gas wells on the One Hundred Twenty Seven (127) Initial Well Locations in accordance with the terms and conditions of this Agreement. Developer, as a minimum commitment, agrees to participate in and pay the Operators charges for drilling and completing (or plugging) the wells and any extra costs pursuant to Section 4 in proportion to the share of the Working Interest owned by the Developer in the wells with respect to all initial wells. It is understood and agreed that, subject to sub-section (e) below, Developer does not reserve the right to decline participation in the drilling of any of the initial wells to be drilled under this Agreement. |
(b) | Timing. Operator shall begin drilling the first well within thirty (30) days after the date of this Agreement, and shall begin drilling each of the other initial wells for which payment is made pursuant to Section 4(b) before the close of the 90th day after the close of the calendar year in which this Agreement is entered into by Operator and the Developer. Subject to the foregoing time limits, Operator shall determine the timing of and the order of drilling the Initial Well Locations. |
(c) | Extent of Drilling. All of the wells to be drilled under this Agreement shall be: |
(i) | drilled and completed (or plugged) in accordance with the generally accepted and customary oil and gas field practices and techniques then prevailing in the geographical area of the Well Locations; and | ||
(ii) | drilled to a depth sufficient to test thoroughly the objective formation or the deepest assigned depth, whichever is less, in the case of a vertical well, and drilled vertically and horizontally to the extent of the assigned Lease interest necessary to thoroughly test the objective formation in the case of a horizontal well. |
(d) | Interest of Developer. Except as otherwise provided in this Agreement, all costs, expenses, and liabilities incurred in connection with the drilling and other operations and activities contemplated by this Agreement shall be borne and paid, and all wells, gathering lines of up to approximately 2,500 feet on each Well Location in connection with a natural gas well, equipment, materials, and facilities acquired, constructed or installed under this Agreement shall be owned, by the Developer in proportion to the share of the Working Interest owned by the Developer in the wells. Subject to the payment of lessors royalties and other royalties and overriding royalties, if any, production of oil and gas from the wells to be drilled under this Agreement shall be owned by the Developer in proportion to the share of the Working Interest owned by the Developer in the wells. Additionally, all costs, expenses, and liabilities incurred in connection with the leasing, developing, drilling, and operation of water disposal or injection wells, and the transportation or injection of waste water from Developers productive wells under this Agreement shall be the sole responsibility of Developer in proportion to the share of the Working Interest owned by the Developer. In the event Operator provides any services related to disposal wells, injection wells, transportation of waste water or similar matters under this Agreement, Operator shall be paid a monthly competitive fee, as determined by Developer and Operator. |
(e) | Right to Substitute Well Locations. Notwithstanding the provisions of sub-section (a) above, if the Operator or Developer determines in good faith, with respect to any Well Location, before operations begin under this Agreement on the Well Location, that it would not be in the best interest of the parties to drill a well on the Well Location, then the party making the determination shall notify the other party of its determination and the basis for its determination and, unless otherwise instructed by Developer, the well shall not be drilled. This determination may be based on: |
(i) | the production or failure of production of any other wells that may have been recently drilled in the immediate area of the Well Location; |
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(ii) | newly discovered title defects; or |
(iii) | any other evidence with respect to the Well Location as may have been obtained. |
3. | Operator Responsibilities in General; Covenants; Term. |
(a) | Operator Responsibilities in General. Atlas shall be the Operator of the wells and Well Locations subject to this Agreement and, as the Developers independent contractor, shall, in addition to its other obligations under this Agreement do the following: |
(i) | arrange for drilling and completing (or plugging) the wells and, if a gas well, installing the necessary gas gathering line systems and connection facilities; |
(ii) | make the technical decisions required in drilling, testing, completing (or plugging), and operating the wells; |
(iii) | manage and conduct all field operations in connection with the drilling, testing, completing (or plugging), equipping, operating, and producing the wells; |
(iv) | maintain all wells, equipment, gathering lines if a gas well, and facilities in good working order during their useful lives; |
(v) | perform the necessary administrative and accounting functions; and |
(vi) | design water disposal plans, if needed, for the wells. |
(b) | Covenants. Operator covenants and agrees that under this Agreement: |
(i) | it shall perform and carry on (or cause to be performed and carried on) its duties and obligations in a good, prudent, diligent, and workmanlike manner using technically sound, acceptable oil and gas field practices then prevailing in the geographical area of the Well Locations; |
(ii) | all drilling and other operations conducted by, for and under the control of Operator shall conform in all respects to federal, state and local laws, statutes, ordinances, regulations, and requirements; |
(iii) | unless otherwise agreed in writing by the Developer, all work performed pursuant to a written estimate shall conform to the technical specifications set forth in the written estimate and all equipment and materials installed or incorporated in the wells and facilities shall be new or used and of good quality; |
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(iv) | in the course of conducting operations, it shall comply with all terms and conditions, other than any minimum drilling commitments, of the Leases (and any related assignments, amendments, subleases, modifications and supplements); |
(v) | it shall keep the Well Locations and all wells, equipment and facilities located on the Well Locations free and clear of all labor, materials and other types of liens or encumbrances arising out of operations; |
(vi) | it shall file all reports and obtain all permits and bonds required to be filed with or obtained from any governmental authority or agency in connection with the drilling or other operations and activities; and |
(vii) | it will provide competent and experienced personnel to supervise drilling, completing (or plugging), and operating the wells and use the services of competent and experienced service companies to provide any third party services necessary or appropriate in order to perform its duties. |
(c) | Term. Atlas shall serve as Operator under this Agreement until the earliest of: |
(i) | the termination of this Agreement pursuant to Section 13; |
(ii) | the termination of Atlas as Operator by the Developer at any time in the Developers discretion, with or without cause on sixty (60) days advance written notice to the Operator; or |
(iii) | the resignation of Atlas as Operator under this Agreement which may occur on ninety (90) days written notice to the Developer at any time after five (5) years from the date of this Agreement, it being expressly understood and agreed that Atlas shall have no right to resign as Operator before the expiration of the five-year period. |
4. | Operators Charges for Drilling and Completing Wells; Payment; Completion Determination; Dry Hole Determination; Excess Funds and Cost Overruns-Intangible Drilling Costs; Excess Funds and Cost Overruns-Tangible Costs. |
(a) | Operators Charges for Drilling and Completing Wells. Each oil and gas well that is drilled and completed under this Agreement shall be drilled and completed for an amount equal to the sum of the following items: (i) the Cost of permits, supplies, materials, equipment, and all other items used in the drilling and completion of a well provided by third-parties, or if the foregoing items are provided by Affiliates of the Developers Managing General Partner, then those items shall be charged at competitive rates; (ii) fees for third-party services; (iii) fees for services provided by the Developers Managing General Partners Affiliates, which shall be charged at competitive rates; (iv) an administration and oversight fee at a competitive rate in the area where the well is situated, which is $244,222 per horizontal well in the Marcellus Shale primary area, and $46,122 per horizontal well in the New Albany Shale (Indiana) primary area; and (v) a mark-up in an amount equal to 18% of the sum of (i), (ii), (iii) and (iv), above, for the Developers Managing General Partners services as general drilling contractor as Operator under this Agreement. |
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(b) | Payment. The Developer shall pay to Operator, in proportion to the share of the Working Interest owned by the Developer in the wells, one hundred percent (100%) of the estimated IDCs and Tangible Costs, as those terms are defined below, for drilling and completing all initial wells on execution of this Agreement. Notwithstanding the foregoing, Atlas payments for its share of the estimated Tangible Costs, as that term is defined below, of drilling and completing all initial wells as the Managing General Partner of the Developer shall be paid within five (5) business days of notice from Operator that the costs have been incurred. The Developers payment shall be nonrefundable in all events in order to enable Operator to do the following: |
(i) | commence site preparation for the initial wells; |
(ii) | obtain suitable subcontractors for drilling and completing or plugging the initial wells at currently prevailing prices; and |
(iii) | insure the availability of equipment and materials. |
(i) | all expenditures made with respect to any well before the establishment of production in commercial quantities for wages, fuel, repairs, hauling, supplies and other costs and expenses incident to and necessary for the drilling of the well and the preparation of the well for the production of oil or gas, that are currently deductible pursuant to Section 263(c) of the Internal Revenue Code of 1986, as amended (the Code), and Treasury Reg. Section 1.612-4, which are generally termed intangible drilling and development costs; |
(ii) | the expense of plugging and abandoning any well before a completion attempt; and |
(iii) | the costs (other than Tangible Costs and Lease acquisition costs) to re-enter and deepen an existing well, complete the well to deeper formations or reservoirs, or plug and abandon the well if it is nonproductive from the targeted deeper formations or reservoirs. |
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(i) | all costs of equipment, parts and items of hardware used in drilling and completing (or plugging) a well; |
(ii) | the costs (other than IDCs and Lease acquisition costs) to re-enter and deepen an existing well, complete the well to deeper formations or reservoirs, or plug and abandon the well if it is nonproductive from the targeted deeper formations or reservoirs; and |
(iii) | those items necessary to deliver acceptable oil and gas production to purchasers to the extent installed downstream from the wellhead of any well, which are required to be capitalized under the Code and its regulations. |
(i) | commence site preparation for the additional wells; |
(ii) | obtain suitable subcontractors for drilling and completing the additional wells at currently prevailing prices; and |
(iii) | insure the availability of equipment and materials. |
(c) | Completion Determination. Operator shall determine whether or not to run the production casing for an attempted completion or to plug and abandon any well drilled under this Agreement. However, a well shall be completed only if Operator has made a good faith determination that there is a reasonable possibility of obtaining commercial quantities of oil and/or gas. |
(d) | Dry Hole Determination. If Operator determines at any time during the drilling or attempted completion of any well drilled under this Agreement, in accordance with the generally accepted and customary oil and gas field practices and techniques then prevailing in the geographic area of the Well Location that the well should not be completed, then it shall promptly and properly plug and abandon the well. |
(e) | Excess Funds and Cost Overruns-Intangible Drilling Costs. Any estimated IDCs (which are the IDCs set forth on the AFE Exhibit) prepaid by Developer with respect to any well that exceed Operators price specified in sub-section (a) above for the Intangible Drilling Costs of the well (i.e., the actual IDCs) shall be retained by Operator. This excess of estimated IDCs as reflected on the AFE Exhibit over the actual price of the IDCs for the well shall be applied, in proportion to the share of the Working Interest owned by the Developer in the wells, to: |
(i) | the IDCs of an additional well or wells to be drilled on the Additional Well Locations; or |
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(ii) | any cost overruns owed by the Developer to Operator for IDCs on one or more of the other wells on the Well Locations. |
(i) | Developer shall pay the additional price to Operator within ten (10) business days after notice from Operator that the additional amount is due and owing; or |
(ii) | Developer and Operator may agree to delete or reduce Developers Working Interest in the well or one or more of the other wells to be drilled under this Agreement to provide funds to pay the additional amounts owed by Developer to Operator. If doing so results in any excess prepaid IDCs, then these funds shall be applied, in proportion to the share of the Working Interest owned by the Developer in the wells, to: |
(a) | the IDCs of an additional well or wells to be drilled on the Additional Well Locations; or |
(b) | any cost overruns owed by the Developer to Operator for IDCs of one or more of the other wells on the Well Locations. |
(f) | Excess Funds and Cost Overruns Tangible Costs. Any estimated Tangible Costs (which are the Tangible Costs set forth on the AFE Exhibit) prepaid by Developer with respect to any well that exceed Operators price specified in sub-section (a) above for the Tangible Costs of the well (i.e., the actual Tangible Costs) shall be retained by Operator. This excess of Tangible Costs as reflected on the AFE Exhibit over the actual price of the Tangible Costs for the well shall be applied, in proportion to the share of the Working Interest owned by the Developer in the wells, to: |
(i) | the Developers Participants share of the Tangible Costs for an additional well or wells to be drilled on the Additional Well Locations; or |
(ii) | any cost overruns owed by the Developer to Operator for the Developers Participants share of the Tangible Costs or Intangible Drilling Costs of one or more of the other wells on the Well Locations. |
(i) | Developer shall pay the additional price to Operator within ten (10) business days after notice from Operator that the additional price is due and owing; or |
(ii) | Developer and Operator may agree to delete or reduce Developers Working Interest in the well or one or more of the other wells to be drilled under this Agreement to provide funds to pay the additional amounts owed by Developer to Operator. If doing so results in any excess prepaid Tangible Costs, then these funds shall be applied, in proportion to the share of the Working Interest owned by the Developer in the wells, to: |
(a) | the Developers Participants share of the Tangible Costs of an additional well or wells to be drilled on the Additional Well Locations; or |
(b) | any cost overruns owed by the Developer to Operator for the Developers Participants share of the Tangible Costs or Intangible Drilling Costs of one or more of the other wells on the Well Locations. |
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(iii) | The Developers Participants share of the Tangible Costs, in the aggregate, of all of the wells drilled under this Agreement and any additional wells to be drilled on the Additional Well Locations under any Addendum to this Agreement shall not exceed fifteen percent (15%) of the total price prepaid by Developer to Operator pursuant to Section 4(b) of this Agreement or any Addendum hereto. The Developers Managing General Partner shall pay all remaining Tangible Costs owed by Developer to Operator. Developers Managing General Partners share of Tangible Costs for the wells drilled under this Agreement, or any Addendum hereto, shall be paid within five (5) business days of notice from Operator that the Tangible Costs have been incurred. The Developers Participants share of the Tangible Costs of any one well drilled under this Agreement shall be determined, subject to the preceding sentence, taking into account the Developers share of all of the Tangible Costs of all of the wells to be drilled under this Agreement and any Addendum hereto. |
5. | Title Examination of Well Locations; Developers Acceptance and Liability; Additional Well Locations. |
(a) | Title Examination of Well Locations, Developers Acceptance and Liability. The Developer acknowledges that Operator has furnished Developer with the title opinions identified on Exhibit A, and other documents and information that Developer or its counsel has requested in order to determine the adequacy of the title to the Initial Well Locations and leased premises subject to this Agreement. The Developer accepts the title to the Initial Well Locations and leased premises and acknowledges and agrees that, except for any loss, expense, cost, or liability caused by the breach of any of the warranties and representations made by the Operator in Section l(b), any loss, expense, cost or liability whatsoever caused by or related to any defect or failure of the Developers title shall be the sole responsibility of and shall be borne entirely by the Developer. |
(b) | Additional Well Locations. Before beginning drilling of any well on any Additional Well Location, Operator shall conduct, or cause to be conducted, a title examination of the Additional Well Location, in order to obtain appropriate abstracts, opinions and certificates and other information necessary to determine the adequacy of title to both the applicable Lease and the fee title of the lessor to the premises covered by the Lease. The results of the title examination and such other information as is necessary to determine the adequacy of title for drilling purposes shall be submitted to the Developer for its review and acceptance. No drilling on the Additional Well Location shall begin until the title has been accepted in writing by the Developer or Developer has otherwise authorized the drilling on the Additional Well Location. After any title has been accepted by the Developer or drilling on the Additional Well Location has begun, any loss, expense, cost, or liability whatsoever, caused by or related to any defect or failure of the Developers title shall be the sole responsibility of and shall be borne entirely by the Developer, unless such loss, expense, cost, or liability was caused by the breach of any of the warranties and representations made by the Operator in Section l(b). |
6. | Operations Subsequent to Completion of the Wells; Fee Adjustments; Extraordinary Costs; Pipelines; Price Determinations; Plugging and Abandonment. |
(a) | Operations Subsequent to Completion of the Wells. Beginning with the month in which a well drilled under this Agreement begins to produce, Operator shall be entitled to an operating fee at a competitive rate in the area where the well is situated, which is $975 per month for each productive well in the Marcellus Shale in western Pennsylvania and $1,500 per month for each productive well in the New Albany Shale in Indiana. The operating fees shall be proportionately reduced, on a well-by-well basis to the extent the Developer owns less than 100% of the Working Interest in a well. This fee shall be in lieu of any direct charges by Operator for its services or the provision by Operator of its equipment for normal superintendence and maintenance of the wells and related pipelines and facilities. |
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(i) | well tending, routine maintenance and adjustment; | ||
(ii) | reading meters, recording production, pumping, maintaining appropriate books and records; | ||
(iii) | preparing reports to the Developer and government agencies; and | ||
(iv) | collecting and disbursing revenues. |
(i) | the production and sale of oil; | ||
(ii) | the collection and disposal of salt water or other liquids produced by the wells; | ||
(iii) | the rebuilding of access roads; and | ||
(iv) | the purchase of equipment, materials or third party services; |
(b) | Fee Adjustments. The monthly operating fee set forth in sub-section (a) above may be adjusted by Operator annually, as of the first day of January (the Adjustment Date) of each year, beginning January 1, 2011. This adjustment, if any, shall not exceed the percentage increase in the average weekly earnings of Crude Petroleum, Natural Gas, and Natural Gas Liquids workers, as published by the U.S. Department of Labor, Bureau of Labor Statistics, and shown in Employment and Earnings Publication, Monthly Establishment Data, Hours and Earning Statistical Table C-2, Index Average Weekly Earnings of Crude Petroleum, Natural Gas, and Natural Gas Liquids workers, SIC Code #131-2, or any successor index thereto, since January l, 2010, in the case of the first adjustment, and since the previous Adjustment Date, in the case of each subsequent adjustment. |
(c) | Extraordinary Costs. Without the prior written consent of the Developer, pursuant to a written estimate submitted by Operator, Operator shall not undertake any single project or incur any extraordinary cost with respect to any well being produced under this Agreement that is reasonably estimated to result in an expenditure of more than $5,000, unless the project or extraordinary cost is necessary for the following: |
(i) | to safeguard persons or property; or |
(ii) | to protect the well or related facilities in the event of a sudden emergency. |
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(d) | Pipelines. Subject to Sections 2 (d) and 4 (a) relating to Developers interest in gathering lines for the wells, Developer shall have no interest in any natural gas pipeline and gathering system or processing plant, including but not limited to gathering systems owned by the Operator or its Affiliates, including Laurel Mountain Midstream, LLCs gathering system and processing plants in Indiana in which an affiliate of the Developer owns an interest. Also, Developer shall not be charged any cost or expense for the construction, expansion or maintenance of those pipeline and gathering systems or processing plants. |
(e) | Price Determinations. Notwithstanding anything in this Agreement to the contrary, the Developer shall pay all costs in proportion to the share of the Working Interest owned by the Developer in the wells with respect to obtaining price determinations under and otherwise complying with the Natural Gas Policy Act of 1978 and the implementing state regulations. This responsibility shall include, without limitation, preparing, filing, and executing all applications, affidavits, interim collection notices, reports and other documents necessary or appropriate to obtain price certification, to effect sales of natural gas, or otherwise to comply with the Act and the implementing state regulations. |
(f) | Plugging and Abandonment. The Developer shall have the right to direct Operator to plug and abandon any well that has been completed under this Agreement as a producer. In addition, Operator shall not plug and abandon any well that has been drilled and completed as a producer under this Agreement before obtaining the written consent of the Developer. However, if the Operator determines that any well drilled and completed under this Agreement as a producer shall be plugged and abandoned in accordance with the generally accepted and customary oil and gas field practices and techniques then prevailing in the geographic area of the well location, and makes a written request to the Developer for authority to plug and abandon the well and the Developer fails to respond in writing to the request within forty-five (45) days following the date of the request, then the Developer shall be deemed to have consented to the plugging and abandonment of the well. |
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7. | Billing and Payment Procedure with Respect to Operation of Wells; Disbursements; Separate Account for Sale Proceeds; Records and Reports; Additional Information. |
(a) | Billing and Payment Procedure with Respect to Operation of Wells. Operator shall promptly and timely pay and discharge on behalf of the Developer, in proportion to the share of the Working Interest owned by the Developer in the wells, the following: |
(i) | all expenses and liabilities payable and incurred by reason of its operation of the wells in accordance with this Agreement, such as severance taxes, royalties, overriding royalties, operating fees, and pipeline gathering charges; and |
(ii) | any third-party invoices received by Operator with respect to the Developers share of the costs and expenses incurred in connection with the operation of the wells. |
(i) | deduct the foregoing costs and expenses from the Developers share of the proceeds of the oil and/or gas sold from the wells; and |
(ii) | keep an accurate record of the Developers account, showing expenses incurred and charges and credits made and received with respect to each well. |
(b) | Disbursements. Operator shall disburse to the Developer, on a monthly basis, the Developers share of the proceeds received from the sale of oil and/or gas sold from the wells operated under this Agreement, less: |
(i) | the amounts charged to the Developer under sub-section (a); and |
(ii) | the amount, if any, withheld by Operator for future plugging costs pursuant to sub-section (f) of Section 6. |
(i) | the total production of oil and/or gas since the date of the last disbursement or invoice billing period, as the case may be, and the Developers share of the production; |
(ii) | the total proceeds received from any sale of the production, and the Developers share of the proceeds; |
(iii) | the costs and expenses deducted from the proceeds and/or being billed to the Developer pursuant to sub-section (a) above; |
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(iv) | the amount withheld for future plugging costs; and |
(v) | any other information as Developer may reasonably request, including without limitation copies of all third-party invoices listed on the statement for the period. |
(c) | Separate Account for Sale Proceeds. Operator agrees to deposit all proceeds from the sale of oil and/or gas sold from the wells operated under this Agreement in a separate checking account maintained by Operator. This account shall be used solely for the purpose of collecting and disbursing funds constituting proceeds from the sale of production under this Agreement. |
(d) | Records and Reports. In addition to the statements required under sub-section (b) above, Operator, within seventy-five (75) days after the completion of each well drilled, shall furnish the Developer with a detailed statement itemizing with respect to the well the total costs and charges under Section 4(a) and the Developers share of the costs and charges, and any other information as is necessary to enable the Developer: |
(i) | to allocate any extra costs incurred with respect to the well between Tangible Costs and Intangible Drilling Costs; and |
(ii) | to determine the amount of the investment tax credit or marginal well production tax credit, if applicable. |
(e) | Additional Information. Operator shall promptly furnish the Developer with any additional information as it may reasonably request, including without limitation geological, technical, and financial information, in the form as may reasonably be requested, pertaining to any phase of the operations and activities governed by this Agreement. The Developer and its authorized employees, agents and consultants, including independent accountants shall, at Developers sole cost and expense: |
(i) | on at least ten (10) days written notice to Operator have access during normal business hours to all of Operators records pertaining to operations under this Agreement, including without limitation, the right to audit the books of account of Operator relating to all receipts, costs, charges, expenses and disbursements and information regarding the separate account required under sub-section (c); and |
(ii) | have access, at its sole risk, to any wells drilled by Operator under this Agreement at all times to inspect and observe any machinery, equipment and operations. |
8. | Operators Lien; Right to Collect From Oil or Gas Purchaser. |
(a) | Operators Lien. To secure the payment of all sums due from Developer to Operator under this Agreement, the Developer grants Operator a first and preferred lien on and security interest in the following: |
(i) | the Developers interest in the Leases covered by this Agreement; |
(ii) | the Developers interest in oil and gas produced under this Agreement and its share of the proceeds from the sale of the oil and gas; and |
(iii) | the Developers interest in materials and equipment under this Agreement. |
(b) | Right to Collect From Oil or Gas Purchaser. If the Developer fails to timely pay any amount owing under this Agreement by it to the Operator, then Operator, without prejudice to other existing remedies, may collect and retain from any purchaser or purchasers of oil or gas the Developers share of the proceeds from the sale of the oil and gas until the amount owed by the Developer, plus twelve percent (12%) interest on a per annum basis, and any additional costs (including without limitation actual attorneys fees and costs) resulting from the delinquency, has been paid. Each purchaser of oil or gas shall be entitled to rely on Operators written statement concerning the amount of any default. |
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9. | Successors and Assigns; Transfers; Appointment of Agent. |
(a) | Successors and Assigns. This Agreement shall be binding on and inure to the benefit of the undersigned parties and their respective successors and permitted assigns. However, without the prior written consent of the Developer, the Operator may not assign, transfer, pledge, mortgage, hypothecate, sell or otherwise dispose of any of its interest in this Agreement, or any of its rights or obligations under this Agreement. Notwithstanding, this consent shall not be required in connection with: |
(i) | the assignment of work to be performed for Operator to subcontractors, it being understood and agreed, however, that any assignment to Operators subcontractors shall not in any manner relieve or release Operator from any of its obligations and responsibilities under this Agreement; |
(ii) | any lien, assignment, security interest, pledge or mortgage arising under Operators present or future financing arrangements; or |
(iii) | the liquidation, merger, consolidation, or other corporate reorganization or sale of substantially all of the assets of Operator. |
(i) | the entire interest of the Developer in all wells, production, equipment and leasehold interests subject to this Agreement; or |
(ii) | an equal undivided interest in all such wells, production, equipment, and leasehold interests. |
(b) | Transfers. Subject to the provisions of sub-section (a) above, any sale, encumbrance, transfer or other disposition made by the Developer of its interests in the wells, production, equipment, and/or leasehold interests covered by this Agreement shall be made: |
(i) | expressly subject to this Agreement; | ||
(ii) | without prejudice to the rights of the Operator; and | ||
(iii) | in accordance with and subject to the provisions of the Leases covering the Well Locations. |
(c) | Appointment of Agent. If at any time the interest of the Developer is divided among or owned by co-owners, Operator may, in its discretion, require the co-owners to appoint a single trustee or agent with full authority to do the following: |
(i) | receive notices, reports and distributions of the proceeds from production; | ||
(ii) | approve expenditures; |
(iii) | receive billings for and approve and pay all costs, expenses and liabilities incurred under this Agreement; |
(iv) | exercise any rights granted to the co-owners under this Agreement; |
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(v) | grant any approvals or authorizations required or contemplated by this Agreement; |
(vi) | sign, execute, certify, acknowledge, file and/or record any agreements, contracts, instruments, reports, or documents whatsoever in connection with this Agreement or the activities contemplated by this Agreement; and |
(vii) | deal generally with, and with power to bind, the co-owners with respect to all activities and operations contemplated by this Agreement. |
10. | Operators Insurance; Subcontractors Insurance; Operators Liability. |
(a) | Operators Insurance. Operator shall obtain and maintain at its own expense so long as it is Operator under this Agreement all required Workmens Compensation Insurance and comprehensive general public liability insurance in amounts and coverage not less than $1,000,000 per person per occurrence for personal injury or death and $1,000,000 for property damage per occurrence, which shall include coverage for blow-outs, and total liability coverage of not less than $10,000,000. |
(i) | name the Developer as an additional insured party; and |
(ii) | provide that at least thirty (30) days prior notice of cancellation and any other adverse material change in the policy shall be given to the Developer. |
(b) | Subcontractors Insurance. Operator shall require all of its subcontractors to carry all required Workmens Compensation Insurance and to maintain such other insurance, if any, as Operator in its discretion may require. |
(c) | Operators Liability. Operators liability to the Developer as Operator under this Agreement shall be limited to, and Operator shall indemnify the Developer and hold it harmless from, claims, penalties, liabilities, obligations, charges, losses, costs, damages, or expenses (including but not limited to reasonable attorneys fees) as provided in Section 4.05 of the Developers Partnership Agreement. |
11. | Internal Revenue Code Election; Relationship of Parties; Right to Take Production in Kind. |
(a) | Internal Revenue Code Election. With respect to this Agreement, each of the parties elects under Section 761(a) of the Internal Revenue Code of 1986, as amended, to be excluded from the provisions of Subchapter K of Chapter 1 of Subtitle A of the Internal Revenue Code of 1986, as amended. If the income tax laws of the state or states in which the property covered by this Agreement is located contain, or may subsequently contain, a similar election, each of the parties agrees that the election shall be exercised. |
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(b) | Relationship of Parties. It is not the intention of the parties to create, nor shall this Agreement be construed as creating, a mining or other partnership or association or to render the parties liable as partners or joint venturers for any purpose. Operator shall be deemed to be an independent contractor and shall perform its obligations as set forth in this Agreement. |
(c) | Right to Take Production in Kind. Subject to the provisions of Section 8 above, the Developer shall have the exclusive right to sell or dispose of its proportionate share of all oil and gas produced from the wells to be drilled under this Agreement, exclusive of production: |
(i) | that may be used in development and producing operations; | ||
(ii) | unavoidably lost; and | ||
(iii) | used to fulfill any free gas obligations under the terms of the applicable Lease or Leases. |
12. | Effect of Force Majeure; Definition of Force Majeure; Limitation. |
(a) | Effect of Force Majeure. If Operator is rendered unable, wholly or in part, by force majeure (as defined below) to carry out any of its obligations under this Agreement, including but not limited to beginning the drilling of one or more wells by the applicable times set forth in Section 2(b), or any Addendum to this Agreement, the obligations of the Operator, so far as it is affected by the force majeure, shall be suspended during but no longer than, the continuance of the force majeure. The Operator shall give to the Developer prompt written notice of the force majeure with reasonably full particulars concerning it. Operator shall use all reasonable diligence to remove the force majeure as quickly as possible to the extent the same is within its reasonable control. |
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(b) | Definition of Force Majeure. The term force majeure shall mean an act of God, strike, lockout, or other industrial disturbance, act of the public enemy, war, terrorist acts, blockade, public riot, lightning, fire, storm, flood, explosion, governmental restraint, unavailability of drilling rigs, equipment or materials, plant shut-downs, curtailments by oil and gas purchasers and any other causes whether of the kind specifically enumerated above or otherwise, which directly preclude Operators performance under this Agreement and are not reasonably within the control of the Operator including, but not limited to, the inability of Operator to begin the drilling of the wells subject to this Agreement by the applicable times set forth in Section 2(b) or in any Addendum to this Agreement due to decisions of third-party operators to delay drilling the wells, poor weather conditions, inability to obtain drilling permits, access rights to the drilling site or title problems. |
(c) | Limitation. The requirement that any force majeure shall be remedied with all reasonable dispatch shall not require the settlement of strikes, lockouts, or other labor difficulty affecting the Operator contrary to its wishes. The method of handling these difficulties shall be entirely within the discretion of the Operator. |
13. | Term. |
14. | Governing Law; Invalidity. |
(a) | Governing Law. This Agreement shall be governed by, construed and interpreted in accordance with the laws of the Commonwealth of Pennsylvania, excluding its conflict of law provisions. |
(b) | Invalidity. The invalidity or unenforceability of any particular provision of this Agreement shall not affect the other provisions of this Agreement, and this Agreement shall be construed in all respects as if the invalid or unenforceable provision were omitted. |
15. | Integration; Written Amendment. |
(a) | Integration. This Agreement, including the Exhibits to this Agreement, constitutes and represents the entire understanding and agreement of the parties with respect to the subject matter of this Agreement and supersedes all prior negotiations, understandings, agreements, and representations relating to the subject matter of this Agreement. |
(b) | Written Amendment. No change, waiver, modification, or amendment of this Agreement shall be binding or of any effect unless in writing duly signed by the party against which the change, waiver, modification, or amendment is sought to be enforced. |
16. | Waiver of Default or Breach. |
17
17. | Notices. |
(i) | If to the Operator, to: |
(ii) | If to Developer, to: |
18. | Interpretation. |
19. | Counterparts. |
ATLAS RESOURCES, LLC | ||||||
By: | /s/ Frank P. Carolas | |||||
Frank P. Carolas, Executive Vice President | ||||||
ATLAS RESOURCES SERIES 28-2010 L.P. | ||||||
By its Managing General Partner: ATLAS RESOURCES, LLC |
||||||
By: | /s/ Frank P. Carolas | |||||
Frank P. Carolas, Executive Vice President |
18
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated and recorded in Deed Book Volume _____, Page _____ in the Recorders Office of County, , covering approximately _____ acres in Township, County, . |
(b) | The portion of the leasehold estate constituting the No. _____ Well Location is described on the map attached hereto as Exhibit A-l. |
(c) | Title Opinion of , , , , dated , 20_____. |
(d) | The Developers interest in the leasehold estate constituting this Well Location is an undivided _____% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is feet), subject to the landowners royalty interest and overriding royalty interests. |
o | Horizontal Antrim Shale Well(s): Subject to the exception(s) set forth below, if any, and as shown on the attached plat(s), the well bore plus one hundred twenty-five feet on either side of the center line of the lateral in the well extending from the beginning of the first perforation to the end of the last perforation and from the top of the Lachine Member to the bottom of the Antrim zone. | |
o | Vertical Antrim Shale Well(s): Subject to the exception(s) set forth below, if any, eighty (80) acres surrounding the well bore, as shown on the attached plat(s), from the surface of the earth to the deepest depth penetrated. | |
o | Horizontal Marcellus Shale Well(s): Subject to the exception(s) set forth below, if any, and as shown on the attached plat(s), the well bore plus one hundred twenty-five (125) feet on either side of the center line of the lateral in the well extending from the beginning of the first perforation to the end of the last perforation and from the bottom of the Tully zone to the bottom of the Marcellus Shale formation. | |
o | Horizontal New Albany Shale Well(s): Subject to the exception(s) set forth below, if any, and as shown on the attached plat(s), the well bore plus one hundred twenty-five (125) feet on either side of the center line of the lateral in the well extending from the beginning of the first perforation or open hole section to the end of the last perforation or last open hole section and from the top of the Borden Shale zone to the bottom of the New Albany zone. | |
o | Horizontal Chattanooga Shale Well(s): Subject to the exception(s) set forth below, if any, and as shown on the attached plat(s), the well bore plus one hundred twenty-five (125) feet on either side of the center line of the lateral in the well extending from the beginning of the first perforation to the end of the last perforation and from the top of the Fort Payne zone to the bottom of the Chattanooga zone. |
Signed and acknowledged in the presence of
|
|
|||
(a) | Operator has furnished Developer with the title opinions identified on Exhibit A to this Addendum; and |
(b) | such other documents and information which Developer or its counsel has requested in order to determine the adequacy of the title to the above Additional Well Locations. |
ATLAS RESOURCES, LLC | ||||||
By | ||||||
ATLAS RESOURCES SERIES 28-2010 L.P. | ||||||
By its Managing General Partner: | ||||||
ATLAS RESOURCES, LLC | ||||||
By | ||||||
Working | |||||||||||||||
Well Id. | Well Name | State | County | Township | Formation | Interest | |||||||||
25680 | SKOVRAN UNIT #26H |
PA | Fayette | Redstone | Marcellus - Horizontal | 100.000 | % | ||||||||
25681 | SKOVRAN UNIT #27H |
PA | Fayette | Redstone | Marcellus - Horizontal | 100.000 | % | ||||||||
25682 | SKOVRAN UNIT #28H |
PA | Fayette | Redstone | Marcellus - Horizontal | 100.000 | % | ||||||||
26016 | SKOVRAN UNIT #30H |
PA | Fayette | Redstone | Marcellus - Horizontal | 100.000 | % | ||||||||
26017 | SKOVRAN UNIT #31H |
PA | Fayette | Redstone | Marcellus - Horizontal | 100.000 | % | ||||||||
26229 | FERENS UNIT 13H |
PA | Fayette | Dunbar | Marcellus - Horizontal | 100.000 | % | ||||||||
26441 | TESLOVICH UNIT #29H |
PA | Fayette | Menallen | Marcellus - Horizontal | 100.000 | % | ||||||||
26442 | TESLOVICH UNIT #30H |
PA | Fayette | Menallen | Marcellus - Horizontal | 100.000 | % | ||||||||
26448 | KOPPERS S-104 |
TN | Campbell | LaFollette | Shale | 100.000 | % | ||||||||
26449 | KOPPERS S-114 |
TN | Campbell | LaFollette | Shale | 100.000 | % | ||||||||
26450 | KOPPERS S-119 |
TN | Campbell | LaFollette | Shale | 100.000 | % | ||||||||
26474 | SKOVRAN UNIT #34H |
PA | Fayette | Redstone | Marcellus - Horizontal | 100.000 | % | ||||||||
26475 | SKOVRAN UNIT #35H |
PA | Fayette | Redstone | Marcellus - Horizontal | 100.000 | % | ||||||||
26476 | SKOVRAN UNIT #36H |
PA | Fayette | Redstone | Marcellus - Horizontal | 100.000 | % | ||||||||
26478 | TESLOVICH UNIT #31H |
PA | Fayette | Menallen | Marcellus - Horizontal | 100.000 | % | ||||||||
26502 | EINSPAHR 944-35-14 |
CO | Phillips | Unknown | Niobrara Shale | 100.000 | % | ||||||||
26503 | FLATLAND 944-35-44 |
CO | Phillips | Unknown | Niobrara Shale | 100.000 | % | ||||||||
26504 | FLATLAND 944-35-43 |
CO | Phillips | Unknown | Niobrara Shale | 100.000 | % | ||||||||
26505 | OLSON 943-31-14 |
CO | Phillips | Unknown | Niobrara Shale | 100.000 | % | ||||||||
26506 | BRINKEMA 943-31-44 |
CO | Phillips | Unknown | Niobrara Shale | 100.000 | % | ||||||||
26507 | BRINKEMA 943-32-41 |
CO | Phillips | Unknown | Niobrara Shale | 100.000 | % | ||||||||
26613 | FLATLAND 844-11-42 |
CO | Phillips | Amherst | Niobrara Shale | 100.000 | % | ||||||||
26614 | VIESELMEYER 843-5-31-L2 |
CO | Phillips | Amherst | Niobrara Shale | 100.000 | % | ||||||||
26615 | VIESELMEYER 843-5-32-L10 |
CO | Phillips | Amherst | Niobrara Shale | 100.000 | % | ||||||||
26616 | VIESELMEYER 843-5-41-L1 |
CO | Phillips | Amherst | Niobrara Shale | 100.000 | % | ||||||||
26617 | VIESELMEYER 843-5-41-L8 |
CO | Phillips | Amherst | Niobrara Shale | 100.000 | % | ||||||||
26618 | BLOCHOWITZ #843-6-14-L14 |
CO | Phillips | Amherst | Niobrara Shale | 100.000 | % | ||||||||
26619 | BLOCHOWITZ #843-6-23 |
CO | Phillips | Amherst | Niobrara Shale | 100.000 | % | ||||||||
26620 | CLAYMON #843-6-33 |
CO | Phillips | Amherst | Niobrara Shale | 100.000 | % | ||||||||
26621 | CLAYMON 843-6-42-L9 |
CO | Phillips | Amherst | Niobrara Shale | 100.000 | % | ||||||||
26622 | OLTJENBRUNS #843-6-41-L1 |
CO | Phillips | Amherst | Niobrara Shale | 100.000 | % | ||||||||
26624 | STATE 844-1-43 |
CO | Phillips | Amherst | Niobrara Shale | 100.000 | % | ||||||||
26625 | FRANSON 844-10-44 |
CO | Phillips | Amherst | Niobrara Shale | 100.000 | % | ||||||||
26626 | FLATLAND 844-11-21 |
CO | Phillips | Amherst | Niobrara Shale | 100.000 | % | ||||||||
26627 | FLATLAND 844-11-22 |
CO | Phillips | Amherst | Niobrara Shale | 100.000 | % | ||||||||
26628 | PILLARD #844-12-12 |
CO | Phillips | Amherst | Niobrara Shale | 100.000 | % | ||||||||
26629 | PILLARD 844-12-22 |
CO | Phillips | Amherst | Niobrara Shale | 100.000 | % | ||||||||
26630 | SAND PARTNERS #844-12-31 |
CO | Phillips | Amherst | Niobrara Shale | 100.000 | % | ||||||||
26631 | SAND PARTNERS #844-12-41 |
CO | Phillips | Amherst | Niobrara Shale | 100.000 | % | ||||||||
26632 | OLSON 943-27-21 |
CO | Phillips | Amherst | Niobrara Shale | 100.000 | % | ||||||||
26634 | MURRAY 943-34-11 |
CO | Phillips | Amherst | Niobrara Shale | 100.000 | % | ||||||||
26638 | CROWDER 843-7-12 |
CO | Phillips | Amherst | Niobrara Shale | 100.000 | % | ||||||||
26642 | ROLL 843-18-23 |
CO | Phillips | Amherst | Niobrara Shale | 100.000 | % | ||||||||
26643 | STR 844-1-31-L2 |
CO | Phillips | Amherst | Niobrara Shale | 100.000 | % | ||||||||
26644 | DIRKS 844-1-11-L5 |
CO | Phillips | Amherst | Niobrara Shale | 100.000 | % | ||||||||
26646 | OLTJENBRUNS TRUST 844-13-23 |
CO | Phillips | Amherst | Niobrara Shale | 100.000 | % | ||||||||
26647 | FULSCHER 943-15-14 |
CO | Sedgewick | Amherst | Niobrara Shale | 100.000 | % | ||||||||
26648 | DIRKS 943-22-21 |
CO | Phillips | Amherst | Niobrara Shale | 100.000 | % | ||||||||
26650 | OLSON 943-31-24 |
CO | Phillips | Amherst | Niobrara Shale | 100.000 | % | ||||||||
26656 | WALTERS 943-32-34 |
CO | Phillips | Amherst | Niobrara Shale | 100.000 | % | ||||||||
26710 | OLTJENBRUNS STATE 944-36-43 |
CO | Phillips | Amherst | Niobrara Shale | 100.000 | % |
Working | |||||||||||||||
Well Id. | Well Name | State | County | Township | Formation | Interest | |||||||||
26767 | DIRKS 943-22-22 |
CO | Phillips | Unknown | Niobrara Shale | 100.000 | % | ||||||||
26768 | BLOCHOWITZ 843-6-24 |
CO | Phillips | Unknown | Niobrara Shale | 100.000 | % | ||||||||
26769 | BRINKEMA 943-31-34 |
CO | Phillips | Unknown | Niobrara Shale | 100.000 | % | ||||||||
26770 | ENNINGA 943-21-23 |
CO | Phillips | Unknown | Niobrara Shale | 100.000 | % | ||||||||
26771 | OLTJENBRUNS STATE 944-36-34 |
CO | Phillips | Unknown | Niobrara Shale | 100.000 | % | ||||||||
26772 | SCHLACHTER 943-22-13 |
CO | Phillips | Unknown | Niobrara Shale | 100.000 | % | ||||||||
26773 | VIESELMEYER 843-5-42-L9 |
CO | Phillips | Unknown | Niobrara Shale | 100.000 | % | ||||||||
27213 | CLAYMON 843-6-11-L5 |
CO | Phillips | Unknown | Niobrara Shale | 100.000 | % | ||||||||
27214 | DIRKS 943-22-31 |
CO | Phillips | Unknown | Niobrara Shale | 100.000 | % | ||||||||
27215 | FULSCHER STATE 943-16-34 |
CO | Sedgewick | Unknown | Niobrara Shale | 100.000 | % | ||||||||
30496 | DAVIS #C2-29 |
MI | Alcona | Caledonia | Antrim Shale Vertical | 83.12500 | % | ||||||||
32031 | HARTING A3-35 HD |
IN | Knox | Vigo | New Albany Shale | 79.75000 | % | ||||||||
32038 | TELLIGMAN A1-23 HDN |
IN | Knox | Widner | New Albany Shale | 87.57980 | % | ||||||||
32039 | TELLIGMAN, JOHN A1-23 HDS |
IN | Knox | Widner | New Albany Shale | 87.77650 | % | ||||||||
32045 | KIRKWOOD B2-5 HD |
IN | Knox | Washington | New Albany Shale | 87.50000 | % | ||||||||
32046 | LISMAN B4-29 HDS |
IN | Knox | Widner | New Albany Shale | 76.00000 | % | ||||||||
32054 | DIEKMAN A2-2 HD N |
IN | Knox | Widner | New Albany Shale | 87.77650 | % | ||||||||
32055 | DIEKMAN, ROBERT A2-2 HD S |
IN | Knox | Washington | New Albany Shale | 87.77650 | % | ||||||||
32089 | ERRIGO D1-29 |
MI | Alcona | Alcoma | Antrim Shale Vertical | 83.12500 | % | ||||||||
32095 | KIRK B1-8 HD |
IN | Knox | Widner | New Albany Shale | 80.00000 | % | ||||||||
32096 | HOOPER D4-17 HDN |
IN | Knox | Widner | New Albany Shale | 82.40084 | % | ||||||||
32097 | WILLIAMS, MARVIN D1-17 HDS |
IN | Knox | Widner | New Albany Shale | 83.84612 | % | ||||||||
32098 | BOBERG D1-34 HDN |
IN | Knox | Widner | New Albany Shale | 80.00000 | % | ||||||||
32099 | RASERA A1-24 HDS |
IN | Knox | Vigo | New Albany Shale | 76.00000 | % | ||||||||
32100 | BUESCHER B3-14 HDS |
IN | Knox | Vigo | New Albany Shale | 80.00000 | % | ||||||||
32123 | SHRUM A3-21 HD S |
IN | Sullivan | Gill | New Albany Shale | 90.00000 | % | ||||||||
32125 | DIEKMAN D4-13 HDN |
IN | Knox | Widner | New Albany Shale | 83.52697 | % | ||||||||
32131 | KOENIG A3-9 HDS |
IN | Knox | Widner | New Albany Shale | 80.00000 | % | ||||||||
32132 | DIX & STRATE D1-10 HDN |
IN | Knox | Widner | New Albany Shale | 80.00000 | % | ||||||||
32133 | HOOPER, DANIEL D4-17 HDS |
IN | Knox | Widner | New Albany Shale | 76.52520 | % | ||||||||
32134 | RUSK, VERA D2-21 HDS |
IN | Knox | Widner | New Albany Shale | 76.15322 | % | ||||||||
32135 | HOLSCHER D3-27 HDN |
IN | Knox | Widner | New Albany Shale | 87.77650 | % | ||||||||
32138 | KOENIG D4-17 HDN |
IN | Knox | Vigo | New Albany Shale | 76.00000 | % | ||||||||
32140 | KIRKWOOD B4-5 HDN |
IN | Knox | Washington | New Albany Shale | 82.93200 | % | ||||||||
32142 | POLK, MARY C1-22 HDS |
IN | Knox | Busseron | New Albany Shale | 87.77650 | % | ||||||||
32145 | DELLINGER A1-11 HDS |
IN | Knox | Washington | New Albany Shale | 87.77650 | % | ||||||||
32146 | FRANKLIN A3-10 HDS |
IN | Knox | Washington | New Albany Shale | 87.77650 | % | ||||||||
32156 | KERNS D4-9 HDN |
IN | Knox | Busseron | New Albany Shale | 87.77650 | % | ||||||||
32158 | SCHUCKMAN,ALVIN & CARL D1-4HDS |
IN | Knox | Widner | New Albany Shale | 76.00000 | % | ||||||||
32159 | JOHANNINGSMEIER, CARL C3-27HDS |
IN | Knox | Widner | New Albany Shale | 81.75000 | % | ||||||||
32163 | SARGENT D3-6 HDN |
IN | Knox | Widner | New Albany Shale | 76.00000 | % | ||||||||
32165 | DAUGHERTY D3-12 HDN |
IN | Knox | Widner | New Albany Shale | 87.58551 | % | ||||||||
32167 | CHATTIN C1-1 HDS |
IN | Knox | Washington | New Albany Shale | 87.77650 | % | ||||||||
32168 | DEBUISSERET D4-4 HDN |
IN | Knox | Washington | New Albany Shale | 87.77650 | % | ||||||||
32169 | SCHULZE D2-33 HDN |
IN | Knox | Busseron | New Albany Shale | 87.77650 | % | ||||||||
32170 | SCHULZE, MICHAEL D2-33 HDS |
IN | Knox | Busseron | New Albany Shale | 87.77650 | % | ||||||||
32173 | KERNS, CAROLYN D4-9 HDS |
IN | Knox | Washington | New Albany Shale | 87.77650 | % | ||||||||
32177 | HAGEMEIER A2-19 HDS |
IN | Knox | Washington | New Albany Shale | 87.77650 | % | ||||||||
32179 | CARMICHAEL A1-35 HDN |
IN | Knox | Washington | New Albany Shale | 87.77650 | % | ||||||||
32188 | NEWKIRK B4-12 |
MI | Kalkaska | Clearwater | Antrim Shale Vertical | 100.00000 | % | ||||||||
32198 | GRINDE B4-22 |
MI | Otsego | Elmira | Antrim Shale Vertical | 100.00000 | % |
Working | |||||||||||||||
Well Id. | Well Name | State | County | Township | Formation | Interest | |||||||||
32205 | HEIDENREICH, MARY D3-18 HDSRS |
IN | Knox | Vigo | New Albany Shale | 80.75000 | % | ||||||||
32210 | TANNEHILL C3-19 |
MI | Antrim | Chestonia | Antrim Shale Vertical | 100.00000 | % | ||||||||
32212 | RUST D4-36 HDS |
IN | Knox | Washington | New Albany Shale | 85.50204 | % | ||||||||
32217 | BUESCHER, ET AL B3-14 HDN |
IN | Knox | Vigo | New Albany Shale | 80.00000 | % | ||||||||
32220 | WAGLER A4-16 HDS |
IN | Daviess | Barr | New Albany Shale | 100.00000 | % | ||||||||
32221 | MATTINGLY D1-5 HDN |
IN | Daviess | Washington | New Albany Shale | 100.00000 | % | ||||||||
32241 | WILLIAMS, S 1-HD |
IN | Knox | Widner | New Albany Shale | 87.77650 | % | ||||||||
32242 | TELLIGMAN FARMS 1-HD |
IN | Knox | Widner | New Albany Shale | 87.77650 | % | ||||||||
32245 | WILSON A3-32 HDN |
IN | Knox | Harrison | New Albany Shale | 100.00000 | % | ||||||||
32251 | WILLIAMS D2-27 HDN |
IN | Knox | Harrison | New Albany Shale | 100.00000 | % | ||||||||
32253 | CARNAHAN C1-24-66 HDN |
IN | Knox | Palmyra | New Albany Shale | 100.00000 | % | ||||||||
32274 | MCCORMICK C1-4-84 HDN |
IN | Knox | Harrison | New Albany Shale | 100.00000 | % | ||||||||
32277 | LUCAS 1-13 HD |
MI | Kalkaska | Boardman | Collingwood Shale | 100.00000 | % | ||||||||
32278 | ST. MANCELONA 1-28 HD |
MI | Antrim | Mancelona | Collingwood Shale | 100.00000 | % | ||||||||
32294 | SCHROEDER FARMS 1-14 |
IN | Knox | Widner | New Albany Shale | 54.49270 | % | ||||||||
32295 | ST. NORWICH 1 - 6 HD |
MI | Missaukee | Norwich W | Collingwood Shale | 100.00000 | % | ||||||||
32299 | BRADLEY #D2-2 HDN |
IN | Knox | Barr | New Albany Shale | 100.00000 | % | ||||||||
32301 | RUSK D2-21 HDN-A |
IN | Knox | Widner | New Albany Shale | 76.15635 | % | ||||||||
32303 | COURTER A3-24 HDN |
IN | Knox | Widner | New Albany Shale | 76.00000 | % | ||||||||
32340 | OTTEN A2-13-91 HDN |
IN | Knox | Palmyra | New Albany Shale | 100.00000 | % | ||||||||
32342 | ICE D3-24-80 HDN |
IN | Knox | Palmyra | New Albany Shale | 100.00000 | % | ||||||||
32343 | CARNAHAN B3-18-103 HDN |
IN | Knox | Steen | New Albany Shale | 100.00000 | % | ||||||||
32349 | DOWNEN B1-32-82 HDN |
IN | Knox | Steen | New Albany Shale | 100.00000 | % | ||||||||
32361 | CARNAHAN C2-13-79 HDN |
IN | Knox | Palmyra | New Albany Shale | 100.00000 | % | ||||||||
32362 | CARNAHAN A4-26-65 HDS |
IN | Knox | Palmyra | New Albany Shale | 100.00000 | % | ||||||||
127 |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from Helen Skovran dated 5/2/00 and recorded in Deed Book Volume 2541, Page 26 in the Recorders Office of County, Fayette, covering approximately 33.75 acres in Redstone Township, Fayette County, PA. | ||
(b) | The portion of the leasehold estate constituting the 25680 Skovran No. 26H Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of Helen Skovran, Atlas American, LLC, Arnold L. Schulberg, ___________, dated January 8 2010. | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 100% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is ? feet), subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from James
& Gina Boshour dated 1/5/00 and recorded in Deed Book Volume 2477, Page
355 in the Recorders Office of County, Fayette, covering approximately 35 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold estate constituting the 25680 Skovran No. 26H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of James & Gina Bashour, Atlas America, LLC,
Arnold L. Schulberg, __________, dated January 14 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is ? feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from Steve Skovran dated 5/17/99 and recorded in Deed Book Volume 2333, Page
337 in the Recorders Office of County, Fayette, covering approximately 105 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold estate constituting the 25680 Skovran No. 26H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Steve Skovran, Atlas America, LLC,
Arnold L. Schulberg, ___________, dated January 8 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is ? feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from Fairbank Rod & Gun Club dated 1/31/00 and recorded in Deed Book Volume 2492, Page
227 in the Recorders Office of County, Fayrtte, covering
approximately 88.42 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold estate constituting the Skovran No. 26H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Fairbank Rod & Gun Club, Atlas America, LLC,
Arnold L. Schulberg, ____________, dated November 11 2008. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is ___ feet),
subject to the landowners royalty interest and overriding royalty interests. |
COMMONWEALTH OF PENNSYL VANIA DEPARTMENT OF ENVIRONMENTAL PROTECTION oil and gas management program well location plat |
unit assignment plat for the slovran unit well #31H redstone township, Fayette co., pa scale 1 = 1200 May, 2010 |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from Frederick & Johanna Gaggiani dated 4/16/99 and recorded in Deed Book Volume 2313, Page
282 in the Recorders Office of County, Fayette, covering
approximately 59.65 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold estate constituting the 25681 Skovran No. 27H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Frederick & Johanna Gaggiani,
Atlas Energy, LLC, Arnold L. Schulberg, __________, dated March 23 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is ? feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from James & Corol Shaffer dated 2/9/00 and recorded in Deed Book Volume 2492, Page
229 in the Recorders Office of County, Fayette, covering approximately 37.75 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold estate constituting the 25681 Skovran No. 27H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of James & Corol Shaffer,
Atlas America, LLC, Arnold L. Schulberg, ___________, dated January 8 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is ? feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from Andrew
Getsie dated 9/5/00 and recorded in Deed
Book Volume 2592, Page 226 in the Recorders Office of County, Fayette, covering approximately 37 acres
in Redstone Township, Fayette County, PA. |
||
(b) | The portion of the leasehold estate constituting the 25681 Skovran No. 27H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Andrew Getsie, Atlas America, LLC, [ILLEGIBLE], __________, dated August 24 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is ? feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from Eli Shumar dated 1/26/04 and recorded in Deed Book Volume 2904, Page
980 in the Recorders Office of County, Fayette, covering approximately 7.3 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold estate constituting the 25681 Skovran No. 27H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Eli Shumar, Atlas America, LLC, Arnold L. Schulberg, __________, dated January 14 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is ? feet),
subject to the landowners royalty interest and overriding royalty interests. |
COMMONWEALTH OF PENNSYL VANIA DEPARTMENT OF ENVIRONMENTAL PROTECTION oil and gas management program well location plat |
unit assignment plat for the slovran unit well #31H redstone township, Fayette co., pa scale 1 = 1200 May, 2010 |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from Fairbank
Rod & Gun Club dated 1/31/00 and recorded in Deed Book Volume 2492, Page
227 in the Recorders Office of County, Fayette, covering
approximately 88.42 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the Skovran No. 28H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Fairbank
Rod & Gun Club Atlas America, LLC, Aronold L. Schulberg,
, dated
November 11 2008. |
||
(d) | The Developer s interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ________ feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
Steve Skovran dated 5/17/99 and recorded in Deed Book Volume 2333, Page
337 in the Recorders Office of County, Fayette, covering
approximately 10.5 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the Skovran No. 28H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Steve Skovran,
Atlas America, LLC, Arnold L. Schulberg
, dated
January 8 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
James & Gina Bashour dated 1/5/00 and recorded in Deed Book Volume 2477, Page
355 in the Recorders Office of County, Fayette, covering
approximately 3.5 acres in Redstone
Township, Fayette County, PA. |
||
(b) |
The portion of the leasehold
estate constituting the Skovran No. 28H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of James & Gina Bashour, Atlas America, LLC, Arnold L. Schulberg,
,
dated
January 14 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is _______ feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from Helen
Skovran dated 5/2/00 and recorded in Deed Book Volume 2541, Page
26 in the Recorders Office of County, Fayette, covering
approximately 33.75 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the Skovran No. 28H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Helen Skovran, Atlas America, LLC, Arnold L. Schulberg,
, dated
January 8 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from Helen
Skovran
dated 11/12/09 and recorded in Deed Book Volume 3116, Page
1619 in the Recorders Office of County, Fayette, covering
approximately 0.95 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the 25682 Skovran No. 28H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Helen Skovran,
Atlas America, Inc, ,
,
dated
February 8 2002. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from Helen
Skovran dated 9/1/10 and recorded in Deed Book Volume 2796, Page
2013 in the Recorders Office of County, Fayette, covering
approximately 30.7 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the 25682 Skovran No. 28H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Helen Skovran, Atlas America, LLC, Arnold L. Schulberg,
,
dated
January 8 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
David & Eileen Szuhay dated 5/1/00 and recorded in Deed Book Volume 2764, Page
25 in the Recorders Office of County, Fayette, covering
approximately 155 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the 25682 Skovran No. 28H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of David &
Eileen Szuhay Atlas America, LLC, Arnold L. Schulberg,
,
dated
January 9 2008. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
Andrew Skovran dated 9/1/01 and recorded in Deed Book Volume 2796, Page
2056 in the Recorders Office of County, Fayette, covering
approximately 1.1 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the 25682 Skovran No. 28H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Andrew
Skovran,
Atlas Energy, Inc, Arnold L. Schulberg,
, dated
July 12 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding royalty interests. |
COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF ENVIRONMENTAL PROTECTION OB and Gas Management Program WELL LOCATION PLAT |
Unit Assignment Plat for the SKOVRAN UNIT WELL * 28H Redstone Township, Fayette Co., PA Scale 1° 1200 May, 2010 |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
Helen Skovran dated 9/1/10 and recorded in Deed Book Volume 2796, Page
2013 in the Recorders Office of County, Fayette, covering
approximately 30.7 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the Skovran No. 30H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Helen Skovran,
Atlas America, LLC, Arnold L. Schulberg,
, dated
January 8 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from James
& Carol Shaffer
dated 2/9/00 and recorded in Deed Book Volume 2492, Page
229 in the Recorders Office of County, Fayette, covering
approximately 37.75 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the Skovran No. 30H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
James & Carol Shaffer, Atlas America, LLC, Arnold L. Schulberg,
,
dated
January 8 2010. |
||
(d) | The Developers interest In the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from Frederick & Johanna Gaggiani
dated 4/16/99 and recorded in Deed Book Volume 2313, Page
282 in the Recorders Office of County, Fayette, covering
approximately 59.65 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the Skovran No. 39H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Frederick & Johanna Gaggiani Atlas Energy, LLC, Arnold L. Schulberg,
,
dated
March 23 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from John & Patti Manetta
dated 7/2/10 and recorded in Deed Book Volume 3144, Page
644 in the Recorders Office of County, Fayette, covering
approximately 9.28 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the 26016 Skovran No. 30H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of John &
Patti Manetta, Atlas Energy, Inc, Arnold L. Schulberg,
,
dated
August 23 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
Frederick & Johanna Gaggiani
dated 4/16/99 and recorded in Deed Book Volume 2313, Page
279 in the Recorders Office of County, Fayette, covering
approximately 70.91 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the 26016 Skovran No. 30H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Frederick
& Johanna Gaggiani,
Atlas Energy, LLC, Aronold L. Schulberg,
,
dated
March 23 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding royalty interests. |
COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF ENVIRONMENTAL PROTECTION OB and Gas Management Program WELL LOCATION PLAT |
Unit Assignment Plat for the SKOVRAN UNIT WELL * 28H Redstone Township, Fayette Co., PA Scale 1° 1200 May, 2010 |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
Steve Skovran
dated 5/17/99 and recorded in Deed Book Volume 2333, Page
337 in the Recorders Office of County, Fayette, covering
approximately 1.05 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the Skovran No. 31H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Steve Skovran,
Atlas America, LLC, Arnold L. Schulberg,
, dated
January 8 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
James & Gina Bashour
dated 1/5/00 and recorded in Deed Book Volume 2477, Page
355 in the Recorders Office of County, Fayette, covering
approximately 3.5 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the Skovran No. 31H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of James &
Gina Bashour, Atlas America, LLC, Arnold L. Schulberg,
, dated
January 14 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
James & Carol Shaffer
dated 2/9/00 and recorded in Deed Book Volume 2492, Page
229 in the Recorders Office of County, Fayette, covering
approximately 37.75 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the Skovran No. 31H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of James &
Carol Shaffer,
Atlas America, LLC, Arnold L. Schulberg, , dated
January 8 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
Fairbank Rod & Gun Club dated 1/31/00 and recorded in Deed Book Volume
2492, Page
227 in the Recorders Office of County, Fayette, covering
approximately 88.42 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the Skovran No. 31H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Fairbank
Rod & Gun Club Atlas America, LLC, Arnold L. Schulberg,
__________, dated November
11 2008. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from Helen
Skovran dated 9/1/10 and recorded in Deed Book Volume 2796, Page
2013 in the Recorders Office of County, Fayette, covering
approximately 30.7 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the Skovran No. 31H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Helen
Skovran, Atlas America, LLC, Arnold L. Schulberg, ________, dated January 8 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from John
&
Mary Beth Stanislaw dated 12/27/01 and recorded in Deed Book Volume
2810, Page
1003 in the Recorders Office of County, Fayette, covering
approximately 0.12 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the 26017 Skovran No. 31H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of John & Mary
Beth Stanislaw Atlas America, LLC, Arnold L. Schulberg, _______, dated April
30 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from George
&
Louise Stanislaw dated 12/27/01 and recorded in Deed Book Volume 2810, Page
1000 in the Recorders Office of County, Fayette, covering
approximately 1.97 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the 26017 Skovran No. 31H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of George &
Louise Stanislaw Atlas America, Inc., Arnold L. Schulberg, _______, dated
October 6 2004. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from VSX CORP
(STOKEN) dated 3-5-1999 and recorded in Deed Book Volume 2294, Page
237 in the Recorders Office of County, Fayette, covering
approximately 247 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the 26017 SKOVRAN No. 31H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of VSX CORP. to
ATLAS AMERICA, LLC, by CASSIDY, K&P LLC, _______, dated 11-24-2009. |
||
(d) | The Developers interest in the leasehold estate constituting this Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding
royalty interests. |
Exhibit A
commonwealth of pennsyl vania department of environmental protection oil and gas management program well location plat |
unit assignment plat for the slovran unit well #31H redstone township, Fayette co., pa scale 1 = 1200 May, 2010 |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from Ferens
Farms, LLC dated 7/19/07 and recorded in Deed Book Volume 3040, Page
2077 in the Recorders Office of County, Fayette, covering
approximately 286 acres in Dunbar
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the 26229 Ferens No. 13H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Ferens Farms,
LLC, Atlas America, Inc., Michael S. Delaney, ______, dated November 26 2007. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from Gordon
& Vicki
Jo Anderson dated 10/20/07 and recorded in Deed Book Volume
3052, Page
1425 in the Recorders Office of County, Fayette, covering
approximately 8.86 acres in Dunbar
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the 26229 Ferens No. 13H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Gordon & Vicki
Jo Anderson Atlas America, Inc., Michael S. Delaney, ______, dated September
11 2008. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from Kenneth
& Manlyn Haas dated 1/11/08 and recorded in Deed Book Volume 3059, Page
1433 in the Recorders Office of County, Fayette, covering
approximately 441 acres in Dunbar
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the 26229 Ferens No. 13H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Kenneth &
Manlyn Haas Atlas America, LLC, Shepara, German & Kelly, P.C.,
______, dated July 28 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding
royalty interests. |
commonwealth of pennsyl vania department of environmental protection oil and gas management program well location plat |
ferens unit wells #11, 13H Dunbar Township, Fayette Co., PA Scale 1 = 1000 March, 2010 |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
James & Susanne Teslovich
dated 8-7-2004 and recorded in Deed Book Volume 2921, Page
1390 in the Recorders Office of County, Fayette, covering
approximately 141.23 acres in Menallen
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the 26441 Teslovich No. 29H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of James & Susanne Teslovich
Atlas Energy , INC, by Arnold L. Schulberg _______, dated
Sept 27 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
Donald & Deborah Mack
dated 9/7/07 and recorded in Deed Book Volume 3018, Page
1155 in the Recorders Office of County, Fayette, covering
approximately 11 acres in Menallen
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the 26441 Teslovich No. 29H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Donald & Deborah Mack
Atlas Energy, Inc, Arnold L. Schulberg, _______, dated
October 5 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
ROBERTA L. BERGER
dated 12/20/06 and recorded in Deed Book Volume 3018, Page
449 in the Recorders Office of County, FAYETTE, covering
approximately 71.25 acres in MENALLEN
Township, FAYETTE County, PA. |
||
(b) | The portion of the leasehold
estate constituting the TESLOVICH _______
No. 29# Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of ROBERTA LEE BERGER
for Atlas America, LLC, CASSIDY, Etal, _______, dated
11-1-2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is _______ feet),
subject to the landowners royalty interest and overriding
royalty interests. |
COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF ENVIRONMENTAL PROTECTION OB and Gas Management Program WELL LOCATION PLAT |
Unit Assignment Plat for the TESLOVICH UNIT WELLS MENALLEN Township Fayette Co.. PA Scale 1 = 1600 November 2010 |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
James & Susanne Teslovich
dated 8-7-2004 and recorded in Deed Book Volume 2921, Page
1390 in the Recorders Office of County, Fayette, covering
approximately 141.23 acres in Menallen
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the Teslovich No. 30H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of James & Susanne Teslovich
Atlas Energy, INC, by Arnold L. Schulberg _______, dated
Sept 27 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
ROBERTA L BERGER
dated 12/20/06 and recorded in Deed Book Volume 3018, Page
449 in the Recorders Office of County, FAYETTE, covering
approximately 71.25 acres in MENALLEN
Township, FAYETTE County, PA. |
||
(b) | The portion of the leasehold
estate constituting the TESLOVICH _______ No. 30H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of ROBERTA LEE BERGER
for Atlas America, LLC, CASSIDY, Etal,
_______, dated
11-1-2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is _______ feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
Jack & Sue Ellen Reiber
dated 11/14/06 and recorded in Deed Book Volume 3013, Page
124 in the Recorders Office of County, Fayette, covering
approximately 26 acres in Menallen
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the 26442 Teslovich No. 30H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Jack & Sue Ellen Reiber
Atlas America, LLC, Cassidy, Kotjarapogws & Ponland, LLC
_______, dated
September 27 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
David & Barbara Coldren
dated 11/17/07 and recorded in Deed Book Volume 3016, Page
2253 in the Recorders Office of County, Fayette, covering
approximately 25 acres in Menallen
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the 26442 Teslovich No. 30H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of David & Barbara Coldren
Atlas America, LLC, Cassidy, Kotjarapogws & Ponland, LLC.
_______, dated
September 27 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
Joseph & Constance Kikta
dated 9/29/06 and recorded in Deed Book Volume 3005, Page
2153 in the Recorders Office of County, Fayette, covering
approximately 168 acres in Menallen
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the 26442 Teslovich No. 30H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of _________,
_________, _________, _________, dated ___ 20 ___.
|
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is _______ feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
Randall & Karen Cramer
dated 6/15/10 and recorded in Deed Book Volume 3128, Page
825 in the Recorders Office of County, Fayette, covering
approximately 23.55 acres in Menallen
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the Teslovich No. 30H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Randall &
Karen Cramer
Atlas America, LLC, Cassidy, Kotjarapogws & Ponland, LLC,
_______, dated
November 10 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding
royalty interests. |
COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF ENVIRONMENTAL PROTECTION OB and Gas Management Program WELL LOCATION PLAT |
Unit Assignment Plat for the TESLOVICH UNIT WELLS MENALLEN Township Fayette Co.. PA Scale 1 = 1600 November 2010 |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
__________
dated _______ and recorded in Deed Book Volume _____, Page
______ in the Recorders Office of County, Campbell, covering
approximately _____ acres in of a Follette
Township, Campbell County, TN. |
||
(b) | The portion of the leasehold
estate constituting the Koppers S-104 No. 26448 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of ______,
______, ________, _________, dated _____ 20 ___.
|
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is _______ feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
_______________
dated _______________ and recorded in Deed Book Volume _____, Page
_______________ in the Recorders Office of County, Campbell, covering
approximately _______________ acres in of a Follette
Township, Campbell County, TN. |
||
(b) | The portion of the leasehold
estate constituting the Koppers S-104 No. 26449 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
________________,
_______________, ________________, ________________, dated _____ 20 ___.
|
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is _______ feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
_______________
dated _______________ and recorded in Deed Book Volume _____, Page
_______________ in the Recorders Office of County, Campbell, covering
approximately _______________ acres in of a Fellette
Township, Campbell County, TN. |
||
(b) | The portion of the leasehold
estate constituting the Koppers S-119 No. 26450 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
________________,
_______________, ________________, ________________, dated _____ 20 ___.
|
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided ____% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is 100 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
Helen Skovran
dated 5/2/00 and recorded in Deed Book Volume 2541, Page
26 in the Recorders Office of County, Fayette, covering
approximately 33.75 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the Skovran No. 34H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Helen Skovran,
Atlas America, LLC, Arnold L. Schulberg _______, dated
January 8 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
Helen Skovran
dated 9/1/10 and recorded in Deed Book Volume 2796, Page
2013 in the Recorders Office of County, Fayette, covering
approximately 30.7 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the Skovran No. 34H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Helen Skovran
Atlas America, LLC, Arnold L. Schulberg _______, dated
January 8 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
Fairbank Rod & Gun Club
dated 1/31/00 and recorded in Deed Book Volume 2492, Page
227 in the Recorders Office of County, Fayette, covering
approximately 88.42 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the Skovran No. 34H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Fairbank Rod & Gun Club
Atlas America, LLC, Arnold L. Schulberg, _______, dated
November 11 2008. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
James & Gina Bashour
dated 1/5/00 and recorded in Deed Book Volume 2477, Page
355 in the Recorders Office of County, Fayette, covering
approximately 3.5 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the Skovran No. 34H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of James &
Gina Bashour,
Atlas America, LLC, Arnold L. Schulberg,
_______, dated
January 14 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
Steve Skovran
dated 5/17/99 and recorded in Deed Book Volume 2333, Page
337 in the Recorders Office of County, Fayette, covering
approximately 1.05 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the Skovran No. 34H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Steve Skovran,
Atlas America, LLC, Aronold L. Schulberg _______, dated
January 8 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding
royalty interests. |
COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF ENVIRONMENTAL PROTECTION OB and Gas Management Program WELL LOCATION PLAT |
Unit Assignment Plat for the SKOVRAN UNIT WELL * 34H Redstone Township, Fayette Co., PA Scale 1° 1200 July, 2010 |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
Frederick & Johanna Gaggiani
dated 4/16/99 and recorded in Deed Book Volume 2313, Page
279 in the Recorders Office of County, Fayette, covering
approximately 70.97 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the Skovran No. 35H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Frederick
& Johanna Gaggiani,
Atlas Energy, LLC, Arnold L. Schulberg,
_______, dated
March 23 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
Andrew Fictsie,
dated 9/5/00 and recorded in Deed Book Volume 2592, Page
226 in the Recorders Office of County, Fayette, covering
approximately .37 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the Skovran No. 35H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Andrew Fictsie,
Atlas America, LLC, Cossidy, Katjarapogws Ponland, LLC,
_______, dated
August 24 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is ? feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from John & Patti Manetta dated 7/2/10 and recorded in Deed Book Volume 3144, Page
644 in the Recorders Office of County, Fayette, covering approximately 9.28 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold estate constituting the Skovran No. 35H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of John &
Patti Manetta, Atlas Energy, Inc., Arnold L. Schulberg, ____, dated August 23 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is ? feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from James & Carol Shaffer dated 2/9/00 and recorded in Deed Book Volume 2492, Page
229 in the Recorders Office of County, Fayette, covering approximately 37.75 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold estate constituting the Skovran No. 35H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of James &
Carol Shaffer, Atlas America, LLC, Arnold L. Schulberg,
____, dated January 8 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is ? feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from Fredrick & Johanna Gaggiani dated 4/16/99 and recorded in Deed Book Volume 2313, Page
282 in the Recorders Office of County, Fayette, covering approximately 59.65 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold estate constituting the Skovran No. 35H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Fredrick
& Johanna Gaggiani, Atlas Energy, LLC, Arnold L. Schulberg,
____, dated March 23 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is ? feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) |
Oil and Gas Lease from Frank Georgia, Jr. dated 5/10/04 and recorded in Deed Book Volume 2916, Page
349 in the Recorders Office of County, Fayette, covering approximately 7.03 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold estate constituting the 26475 Skovran No. 35H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Frank Georgia,
Jr. Atlas Energy, Inc, Arnold L. Schulberg, ____, dated September 3 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is ? feet),
subject to the landowners royalty interest and overriding
royalty interests. |
COMMONWEALTH OF PENNSYL VANIA DEPARTMENT OF ENVIRONMENTAL PROTECTION oil and gas management program well location plat |
unit assignment plat for the slovran unit well #31H redstone township, Fayette co., pa scale 1 = 1200 May, 2010 |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from James & Gina Bashour dated 1/5/00 and recorded in Deed Book Volume 2477, Page
355 in the Recorders Office of County, Fayette, covering
approximately 3.5 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold estate constituting the Skovran No. 36H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of James & Gina Bashour, Atlas America, LLC, Arnold L. Schulberg, _____, dated January 14 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is ? feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from Steve Skovran dated 5/17/99 and recorded in Deed Book Volume 2333, Page
337 in the Recorders Office of County, Fayette, covering
approximately 1.05 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold estate constituting the Skovran No. 36H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Steve Skovran, Atlas America, LLC, Arnold L. Schulberg, ______, dated January 8 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is ? feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from Helen Skovran dated 9/1/10 and recorded in Deed Book Volume 2796, Page
2013 in the Recorders Office of County, Fayette, covering approximately 30.03 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold estate constituting the Skovran No. 36H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Helen Skovran, Atlas America, LLC, Arnold L. Schulberg, _______, dated January 8 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is ? feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from Helen Skovran dated 5/2/00 and recorded in Deed Book Volume 2541, Page
26 in the Recorders Office of County, Fayette, covering approximately 33.75 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold estate constituting the Skovran No. 36H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Helen Skovran, Atlas America, LLC, Arnold L. Schulberg, _______, dated January 8 2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is ? feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from Fairbank Rod & Gun Club dated 1/31/00 and recorded in Deed Book Volume 2492, Page
227 in the Recorders Office of County, Fayette, covering approximately 88.42 acres in Redstone
Township, Fayette County, PA. |
||
(b) | The portion of the leasehold
estate constituting the 26476 Skovran No. 36H Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of Fairbank Rod & Gun Club, Atlas America, LLC, Arnold L. Schulberg, _______, dated November 11 2008. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is ? feet),
subject to the landowners royalty interest and overriding royalty interests. |
COMMONWEALTH OF PENNSYL VANIA DEPARTMENT OF ENVIRONMENTAL PROTECTION oil and gas management program WELL LOCATION PLAT |
unit assignment plat for the skovran unit well #31H and #36H redstone township, Fayette co., pa scale 1 = 1200 May, 2010 |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from James & Susanne Teslovich dated 8-7-2004 and recorded in Deed Book Volume 2921, Page 1390 in the Recorders Office of County, Fayette, covering approximately 141.23 acres in Menallen Township, Fayette County, PA. | ||
(b) | The portion of the leasehold estate constituting the Teslovich No. 31H Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of James & Susanne Teslovich, Atlas Energy, INC, by Arnold L. Schulberg, ____________, dated Sept 27 2010. | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 100% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is ? feet), subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from Roberta Lee Berger dated 12/20/06 and recorded in Deed Book Volume 3018, Page 449 in the Recorders Office of County, Fayette, covering approximately 71.25 acres in Menallen Township, Fayette County, PA. | ||
(b) | The portion of the leasehold estate constituting the 26478 Teslovich No. 31H Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of Roberta Lee Berger, Atlas America, LLC, Cassiay, Kotjarapogus, & Ponland, LLC, _____________, dated November 1 2010. | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 100% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is feet), subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from Jack & Sue Ellen Reiber dated 11/10/06 and recorded in Deed Book Volume 3013, Page 124 in the Recorders Office of County, Fayette, covering approximately 26 acres in Menallen Township, Fayette County, PA. | ||
(b) | The portion of the leasehold estate constituting the Teslovich No. 31H Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of Jack & Sue Ellen Reiber, Atlas America, LLC, Cassiay, Kotjarapogws, & Ponland, LLC, __________, dated September 27 2010. | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 100% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is ? feet), subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from David & Barbara Coldren dated 11/17/07 and recorded in Deed Book Volume 3016, Page 2253 in the Recorders Office of County, Fayette, covering approximately 25 acres in Menallen Township, Fayette County, PA. | ||
(b) | The portion of the leasehold estate constituting the! Teslovich No. 31H Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of David & Barbara Coldren, Atlas America, LLC, Cassiay, Kotjarapogws, & Ponland, LLC, ______, dated September 27 2010. | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 100% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is ? feet), subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from Randall & Karen Cramer dated 6/15/10 and recorded in Deed Book Volume 3128, Page 825 in the Recorders Office of County, Fayette, covering approximately 23.55 acres in Menallen Township, Fayette County, PA. | ||
(b) | The portion of the leasehold estate constituting the Teslovich 26478 No. 31H Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of Randall & Karen Cramer, Atlas America, LLC, Cassiay, Kotjarapogws & Ponland, LLC, _______, dated November 10 2010. | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 100% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is ? feet), subject to the landowners royalty interest and overriding royalty interests. |
COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF ENVIRONMENTAL PROTECTION Oil and Gas Managment Program WELL LOCATION PLAT |
Unit Assignment Plat for the TESLOVICH UNIT WELLS Menallen township, Fayette Co., PA Scale |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from CLYDE & PHILLIS EINSPAHR dated 1-29-02 and recorded in Deed Book Volume 280, Page 455 in the Recorders Office of County, 217152 PHILLIPS, covering approximately 2239 acres in 9N, 44W SEC 35 Township, PHILLIPS County, COLORADO. | ||
(b) | The portion of the leasehold estate constituting the EINSPAHR No. 944-35-14 Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of EINSPHAHR 944-35-14 for BLACK RAVEN, by BARRY W. SPECTOR, , dated, 10-21-2010. | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 100% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is 2746 feet), subject to the landowners royalty interest and overriding royalty interests. |
The accompanying at is an accurate represent on showing the location of a proposed well this location may be described as a point 425 feet North of the South kine, and 820 feet east of the west kine of section 35, Township 9 North elevation at this point is 3728 feet above m.s.l Note, This is not a land survey plat. There are no visible improvements within 200 feet of the location |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from FLATLAND BASE, LTD dated 2-2-01 and recorded in Deed Book Volume 275, Page 300 in the Recorders Office of County, 215018 PHILLIPS, covering approximately 1760 acres in 9N, 44W SEC 35 Township, PHILLIPS County, CO. | ||
(b) | The portion of the leasehold estate constituting the FLATLAND No. 944-35-44 Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of FLATLAND 944-35-44, for Black Raven, by Barry W Spector, , dated 10-25-2010. | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 100% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is 2665 feet), subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from FLATLAND BASE, LTD dated 2-2-01 and recorded in Deed Book Volume 275, Page 300 in the Recorders Office of County, PHILLIPS, covering approximately 1760 acres in 9N 44W, SEC 35 Township, PHILLIPS County, CO. | ||
(b) | The portion of the leasehold estate constituting the FLATLAND No. 944-35-43 Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of FLATLAND 944-35-44, for BLACK RAVEN, BY BARRY W SPECTOR, , dated 10-25-2001. | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 100% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is 2620 feet), subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from J & S CROWDER dated 2-19-01 and recorded in Deed Book Volume 275, Page 317 in the Recorders Office of County, 215023 PHILLIPS, covering approximately 802 acres in 9N, 43W SEC 31 Township, PHILLIPS County, CO. | ||
(b) | The portion of the leasehold estate constituting the OLSON No. 943-31-14 Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of OLSON # 943-31-14, for BLACK RAVEN, By BARRY W SPECTOR, , dated 10-28-2010. | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 100% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is 2646 feet), subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from BRINKEMA FARMS dated 3-21-01 and recorded in Deed Book Volume 275, Page 529 in the Recorders Office of County, 215123 PHILLIPS, covering approximately 200 acres in 9N 43W SEC 31 Township, PHILLIPS County, CO. | ||
(b) | The portion of the leasehold estate constituting the BRINKEMA No. 943-31-44 Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of BRINKEMA 943-31-44, for BLACK RAVEN, by BARRY W SPECTOR, , dated 10-27-2010. | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 100% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is 2628 feet), subject to the landowners royalty interest and overriding royalty interests. |
The accompanying platens an accurate representation showing the location of a proposed well This location may be described as a point 630 feet North of the South line, and 1220 feet west of the East line of Section 31, Township 9 North, range 43 west of the 6th P.M. Phillips county, Colorado.The surface elevation at this point is 3685 feet above m.s.l There are no visible improvements within 200 feet of the location |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from BRINKEMA
FARMS dated 3-21-01 and recorded in Deed Book Volume 275, Page
532 in the Recorders Office of County, 215124 PHILLIPS,
covering approximately 320 acres in 9N 43W SEC 32
Township, PHILLIPS County, CO. |
||
(b) | The portion of the leasehold
estate constituting the BRINKEMA No. 943-31-43 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of BRINKEMA
943-31-43, for BLACK RAVEN, by BARRY W SPECTOR,
,
dated 11-1-2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is 2654 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Phillips, covering approximately
acres in Amherst Township, Phillips County, CO. |
||
(b) | The portion of the leasehold
estate constituting the Flalland 844-11-42 No. 26613 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of ,
,
,
,
dated
20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding
royalty interests. |
||
No lease assignment. Well was
dry and plugged |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from DALE
VIESELMEYER dated 5-10-01 and recorded in Deed Book Volume 276, Page
136 in the Recorders Office of County, 215376 PHILLIPS, covering
approximately 665 acres in 9N 43W SEC 34
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold
estate constituting the VIESELMEYER No. 843-5-31-L2 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of VIESELMEYER #
843-5-31-L2, FOR BLACK RAVEN, by BARRY W. SPECTOR,
,
dated 2-1-2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is 2705 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
The accompanying plot is an accurate representation showing the location of a proposed well. This location may be described as a point 1295 feet south of the North line, and 1930 feet west of the east line of Section 5. Township 8 North. Range 43 West of the 6th P M, Phillips County, Colorado The surface elevation of this point is 3681 feet above msi Note: This is not a land survey plot. There are no visible improvement within 200 feet of the location |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from DALE
VIESELMEYER dated 5-10-01 and recorded in Deed Book Volume 276, Page
136 in the Recorders Office of County, 215376 PHILLIPS,
covering approximately 665 acres in 8N 43W SEC 5
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold
estate constituting the VIESELMEYER No. 843-5-32-L10 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of VIESELMEYER #
843-5-32-L10, FOR BLACK RAVEN, by BARRY W. SPECTOR,
,
dated 2-1-2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is 2704 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
The accompanying plot is an accurate representation showing the location of a proposed well. This location may be described as a point 3864 feet south of the North line, and 1980 feet west of the east line of Section 5. Township 8 North. Range 43 West of the 6th P.M., Phillips County, Colorado The surface elevation of this point is 3695 feet above mst Note: This is not a land survey plot. There are no visible improvement within 400 feet of the location |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
DALE VIESELMEYER
dated 5-10-01 and recorded in Deed Book Volume 276, Page
136 in the Recorders Office of County, 215376 PHILLIPS, covering
approximately 665 acres in 9N 43W SEC 27
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold
estate constituting the VIESELMEYER No. 843-5-41-LI Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of VIESELMEYER # 843-5-41-LI FOR BLACK RAVEN, by BARRY W. SPECTOR, ______,
dated 2-1-2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is 2711 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
The accompanying pla is an accurate representation showing the location of a proposed well, this location may be described as a point 620 feet south of the north line and 625 feet west of the cast line of section 5 township 8 north range 43 west of the 6th p.m. Phillips County Colorado he surgace elevation at this point is 3693 feet above msi note this is not a land survey plat there are no visible improvements within 200 feet of the location. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
DALE VIESELMEYER
dated 5-10-01 and recorded in Deed Book Volume 276, Page
136 in the Recorders Office of County, 215376 PHILLIPS, covering
approximately 665 acres in 8N 43W SEC 5
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold
estate constituting the VIESELMEYER No. 843-5-41-L8 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of VIESELMEYER #
843-5-41-L8 FOR BLACK RAVEN, by BARRY W. SPECTOR, _______,
dated 2-1-2010.
|
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is 2699 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
The accompanying plat is an accurate representation showing the location of a proposed well. This location may be described as a point 2725 feet South of the North line, and 1250 feet West of the East line of Section 5, Township 8 North , Rang 43 West of the 6th P.M. Phillips County, Colorado The surface elevation at this point is 3682 feet above m.s.l. Note this is not land survey plat. There are no visible improvements within 400 feet of the location. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
L & P BLOCHOWITZ
dated 10-26-01 and recorded in Deed Book Volume 278, Page
848 in the Recorders Office of County, PHILLIPS, covering
approximately 155 acres in 8N 43W SEC Township, PHILLIPS County,
COLORADO. |
||
(b) | The portion of the leasehold
estate constituting the BLOCHOWITZ No. 843-6-14-L14 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of BLOCHOWITZ
843-6-14-L14, FOR BLACK RAVEN, by BARRY W. SPECTOR, _________,
dated 2-26-2010.
|
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is 2700 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
J & C GERK
dated 10-17-01 and recorded in Deed Book Volume 278, Page
809 in the Recorders Office of County, PHILLIPS, covering
approximately 155 acres in 8N 43W SEC Township, PHILLIPS County,
COLORADO. |
||
(b) | The portion of the leasehold
estate constituting the BLOCHOWITZ No. 843-6-14-L14 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of BLOCHOWITZ
843-6-14-L14 FOR BLACK RAVEN, by BARRY W. SPECTOR, ________,
dated 2-26-2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is 2700 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
The accompanying plat is an accurate representation showing the location of a proposed well. This location may be described as a point 550 feet North of the South line, and 770 feet east of the West line of Section 6, Township 8 North, Range 43 West of the 6th P.M. Phillips County, Colorado The surface elevation at this point is 3704 feet above msl Note This is not a land survey plat There are no visible Improvements within 200 feet of the location. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
L&P BLOCHOWITZ
dated 10-26-01 and recorded in Deed Book Volume 278, Page
848 in the Recorders Office of County, 216476 PHILLIPS, covering
approximately 155 acres in 8N 43W SEC 6
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold
estate constituting the BLOCHOWITZ No. 843-6-23 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of BLOCHOWITZ
843-6-23, FOR BLACK RAVEN,
by BARRY W. SPECTOR, _________,
dated 2-26-2010. |
||
(d) | The Developers interest in the leasehold estate constituting the
Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is 2683 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
J&C GERK
dated 10-17-01 and recorded in Deed Book Volume 278, Page
809 in the Recorders Office of County, 216466 PHILLIPS, covering
approximately 155 acres in 8N 43W SEC 6
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold
estate constituting the BLOCHOWITZ No. 843-6-23 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of BLOCHOWITZ
843-6-23, FOR BLACK RAVEN, by BARRY W. SPECTOR, ________,
dated 2-26-2010.
|
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is 2683 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
The accompanying plat is an accurate representation showing the location of a proposed well, this location may be described as a point 1480 feet North of the South line and 1940 feet east of the West line of section 6 township 8 north range 43 west of the 6th p.m. Phillips County Colorado The surface elevation at this point is 3712 feet above msi note this is not a land survey plat there are no visible improvements within 400 feet of the location. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
US A6 BANK
dated 7-11-06 and recorded in Deed Book Volume ________, Page
________ in the Recorders Office of County, #225581 PHILLIPS, covering
approximately 160 acres in 8N 43W SEC 6
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold
estate constituting the CLAYMON No. 843-6-33 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of SEC 6, SE QTR, FOR
BLACK RAVEN, by BARRY W. SPECTOR,
____________, dated 3-10-2009.
|
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is 2708 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
D&S CLAYMON
dated 2-19-01 and recorded in Deed Book Volume 275, Page
327 in the Recorders Office of County, 215028 PHILLIPS, covering
approximately 855 acres in 8N 43W SEC 6
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold
estate constituting the CLAYMON No. 843-6-33 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of SEC. 6, SE QTR, FOR BLACK RAVEN,
by BARRY W. SPECTOR,
___________, dated 3-10-2009.
|
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is 2708 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
The accompanying plat is an accurate representation showing the location of a proposed well, this location may be described as a point 2400 feet North of the South line and 1930 feet west of the East line of section 6 township 8 North range 43 West of the 6th p.m. Phillips County Colorado The surface elevation at this point is 3709 feet above msi note This is not a land survey plat there are no visible improvements within 200 feet of the location. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from D&S
CLAMON
dated 2-19-01 and recorded in Deed Book Volume 275, Page
327 in the Recorders Office of County, 215028 PHILLIPS, covering
approximately 855 acres in 8N 43W SEC 6
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold
estate constituting the CLAYMON No. 843-6-42-L9 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
CLAYMON # 843-6-42, L9 FOR BLACK RAVEN, by BARRY W.
SPECTOR, ,
dated 2-1-2010.
|
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is 2709 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
US A6 BANK
dated 7-11-06 and recorded in Deed Book Volume 225581,
in the Recorders Office of County, PHILLIPS, covering
approximately 160 acres in 8N 43W SEC 6
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold
estate constituting the CLAYMON No. 843-6-42-L9 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
CLAYMON # 843-6-42-L9, FOR BLACK RAVEN, by BARRY W.
SPECTOR,
, dated 2-1-2010.
|
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is 2709 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
The accompanying plat is on accurate representation showing the location oF a proposed welt. This location may be described as a point .3785 Feet South of the North tine, and 500 feet West of the East line oF Section 6 Township 8 North , Range 43 West of the 6th P.M Phillips County, Colorado.The surface elevation at this point is 3705 feet above must Note This is not a land survey plot. There are no visible Improvements within 400 Feet of the location, except on existing treetine and CR 51. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
ELTON & EUNICE OLTJEN BRUNS
dated 4-30-01 and recorded in Deed Book Volume 276, Page 121
in the Recorders Office of County, 215371 PHILLIPS, covering
approximately 1116 acres in 8N, 43W SEC 6
Township, PHILLIPS County, CO. |
||
(b) | The portion of the leasehold
estate constituting the OLTJEN BRUNS No. 843-6-41-L1 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of OLTJEN BRUNS
843-6-41-L1, for BLACK RAVEN, by BARRY
SPECTOR,
, dated 11-30-2009.
|
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is 2704 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
The accompanying plat Is an accurate representation showing the location of a proposed well. This location nay be described as a point 1300 feet South oF the North line, and 600 feet West of the East line of Section 6 , Township 8 North , Range 43 West of the 6th P.M, Phillips Country , Colorado The surface elevation at this point is 3708 feet above m s.l Note This Is not a land survey plat. There are no visible inprovements within 200 feet of the location |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
STATE of COLORADO
dated 8-16-01 and recorded in Deed Book Volume 277, Page 55
in the Recorders Office of County, 215994 PHILLIPS, covering
approximately 320 acres in 8N 44W SEC 1
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold
estate constituting the STATE No. 844-1-43 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of SEC 1, S. HALF,
FOR BLACK RAVEN, by BARRY W.
SPECTOR, ,
dated 12-23-2009.
|
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is 2700 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
The accompanying plat is an accurate representation showing the location of a proposed well. This location may be described as a point 2.390 feet North of the South line, and .350 feet Vest of the East line of Section ) Township 8 Worth , Range 44 West of the 6th P.M, Phillips County , Color ado. The Surface elevation at this point (is 3772 feet above m s l. Note This Is not a land survey plat. There are no visible improvements within 400 feet of the location, except an existing county road |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
dated
and recorded in Deed Book Volume
, Page
in the Recorders Office of County, Phillips, covering
approximately acres in Amherst
Township, Phillips County, CO. |
||
(b) | The portion of the leasehold
estate constituting the Franson 844-10-44 No. 26625 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
,
dated
20
.
|
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is
feet),
subject to the landowners royalty interest and overriding
royalty interests. |
||
No lease assignment. Well was dry and plugged. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
dated
and recorded in Deed Book Volume
, Page
in the Recorders Office of County, Phillips, covering
approximately acres in Amherst
Township, Phillips County, CO. |
||
(b) | The portion of the leasehold
estate constituting the Flatland 844-11-21 No. 26626 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
,
dated
20
.
|
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is
feet),
subject to the landowners royalty interest and overriding
royalty interests. |
||
No lease assignment. Well was dry and plugged. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
FLATLAND BASE LTD
dated 2-2-01 and recorded in Deed Book Volume 275, Page
300 in the Recorders Office of County, 215018 PHILLIPS, covering
approximately 1760 acres in 8N 44W SEC 11
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold
estate constituting the FLATLAND No. 844-11-22 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of SEC 11, N. HALF, FOR BLACK RAVEN, by BARRY W. SPECTOR,
,
dated 1-25-2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is 2680 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
The accompanying plat is an accurate representation showing the location of a proposed well. This location may be described as a point 2090 feet South of the North line, and 2045 Feet East of the West line of Section 12, Township 8 North, Range 44 West of the 6th P.M., Phillips County, Colorado. The Surface elevation at this point is 3720 Feet m.s.i Note, This is not a land survey plant. There are no visible improvements within 400 feet of the location |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
RUTH PILLARD
dated 2-9-01 and recorded in Deed Book Volume 275, Page
549 in the Recorders Office of County, 215131 PHILLIPS, covering
approximately 800 acres in 8N 44W, SEC 12
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold
estate constituting the PILLARD No. 844-12-12 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of PILLARD # 844-12-12, FOR BLACK RAVEN, by BARRY W. SPECTOR,
,
dated 11-23-2009. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is 2705 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
DENTON PILLARD
dated 2-9-01 and recorded in Deed Book Volume 215129,
in the Recorders Office of County, PHILLIPS, covering
approximately 800 acres in 8N 44W SEC 12
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold
estate constituting the PILLARD No. 844-12-12 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of PILLARD # 844-12-12, FOR
BLACK RAVEN, by BARRY W. SPECTOR,
,
dated 11-23-2009.
|
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is 2705 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
The accompanying plat is an accurate representation showing the location of a proposed well. This location may be described as a point 2090 feet South of the North line, and 2045 Feet East of the West line of Section 12, Township 8 North, Range 44 West of the 6th P.M., Phillips County, Colorado. The Surface elevation at this point is 3720 Feet m.s.i Note, This is not a land survey plant. There are no visible improvements within 400 feet of the location |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
RUTH PILLARD
dated 2-9-01 and recorded in Deed Book Volume 275, Page
549 in the Recorders Office of County, 215131 PHILLIPS, covering
approximately 800 acres in 8N 44W SEC 12
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold
estate constituting the PILLARD No. 844-12-22
Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of PILLARD 844-12-22,
FOR BLACK RAVEN, by BARRY W. SPECTOR,
,
dated 11-23-2009.
|
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is 2700 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
DENTON PILLARD
dated 2-9-01 and recorded in Deed Book Volume 215129,
in the Recorders Office of County, PHILLIPS, covering
approximately 800 acres in 8N 44W SEC 12
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold
estate constituting the PILLARD No. 844-12-22 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of PILLARD 844-12-22, FOR BLACK RANVEN, by BARRY W. SPECTOR,
,
dated 11-23-2009. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is 2700 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
The accompanying plat is an accurate representation showing the location of a proposed well. This location may be described as a point 2090 feet South of the North line, and 2045 Feet East of the West line of Section 12, Township 8 North, Range 44 West of the 6th P.M., Phillips County, Colorado. The Surface elevation at this point is 3720 Feet m.s.i Note, This is not a land survey plant. There are no visible improvements within 400 feet of the location |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
M & L OLTJENBRUNS FARMS
dated 4-30-01 and recorded in Deed Book Volume 276, Page 119
in the Recorders Office of County, 215370 PHILLIPS, covering
approximately 3270 acres in 8N 44W SEC 12
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold
estate constituting the SAND PARTNERS No. 844-12-31 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of SEC, 12. NE QTR, FOR BLACK RAVEN, by BARRY W. SPECTOR,
,
dated 1-06-2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is 2704 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
The accompanying plat is an accurate representation showing the location of a proposed well. This location may be described as a point 1295 feet South of the North line, and 2275 Feet East of the West line of Section 12, Township 8 North, Range 44 West of the 6th P.M., Phillips County, Colorado. The Surface elevation at this point is 3722 Feet above m.s.i Note, This is not a land survey plant. There are no visible improvements within 200 feet of the location |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
M & L OLTJENBRUNS FARMS
dated 4-30-01 and recorded in Deed Book Volume 276, Page 119
in the Recorders Office of County, 215370 PHILLIPS, covering
approximately 3270 acres in 8N 44W SEC 12
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold
estate constituting the SAND PARTNERS No. 844-12-41 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of SEC 12, NE QTR, FOR BLACK RAVEN, by BARRY W. SPECTOR,
,
dated 1-06-2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities
(which is 2700 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
The accompanying plat is an accurate representation showing the location of a proposed well. This location may be described as a point 600 feet South of the North line, and 940 Feet West of the East line of Section 12, Township 8 North, Range 44 West of the 6th P.M., Phillips County, Colorado. The Surface elevation at this point is 3710 Feet above m.s.i Note, This is not a land survey plant. There are no visible improvements within 200 feet of the location |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from PATRICIA A. OLSON dated 5-7-03 and recorded in Deed Book Volume 219727,
in the Recorders Office of County, PHILLIPS, covering approximately 160 acres in 9N, 43W, SEC 27
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold estate constituting the OLSON No. 943-27-21 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of OLSON #
943-27-21, for BLACK RAVEN, by BARRY W SPECTOR,
,
dated 10-15-2009. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is 2684 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from FLAME ROYALTIES dated 7-25-03 and recorded in Deed Book Volume 219980,
in the Recorders Office of County, PHILLIPS, covering approximately 160 acres in 9N, 43W, SEC 27
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold estate constituting the OLSON No. 943-27-21 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of OLSON # 943-27-21, for BLACK RAVEN, by BARRY W SPECTOR,
, dated
10-15-2009. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is 2684 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from AUDREY J MURRAY dated 2-2-01 and recorded in Deed Book Volume 275, Page
353 in the Recorders Office of County, 215041 PHILLIPS, covering approximately 360 acres in 9N 43W SEC 34
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold estate constituting the MURRAY No. 943-34-11 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of SEC 34, N2, NW QTR, SW, QTR FOR BLACK RAVEN, by BARRY W. SPECTOR,
, dated 3-9-2009. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is 2695 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Phillips, covering approximately
acres in Amherst
Township, Phillips County, CO. |
||
(b) | The portion of the leasehold estate constituting the Crowder 843-7-12 No. 26638 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of ,
,
, ,
dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding
royalty interests. |
||
No lease assignment. Well was dry and plugged. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from E &
E OLTJENBRUNS dated 4-30-01 and recorded in Deed Book Volume 276, Page
121 in the Recorders Office of County, 215371 PHILLIPS, covering approximately 320 acres in 8N, 43W, SEC 18
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold estate constituting the ROLL No. 843-18-23 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of ROLL 843-18-23, for BLACK RAVEN, by BARRY W SPECTOR,
dated
12-24-2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is 2700 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from US A6 BANK dated 10-18-08 and recorded in Deed Book Volume 228817,
in the Recorders Office of County, PHILLIPS, covering approximately 160 acres in 8N, 43W, SEC 18
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold estate constituting the ROLL No. 843-18-23 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of ROLL 843-18-23, for BLACK RAVEN, by BARRY W SPECTOR,
,
dated 12-24-2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is 2700 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from STR INVESTMENTS dated 3-9-01 and recorded in Deed Book Volume 276, Page
563 in the Recorders Office of County, 215563 PHILLIPS, covering approximately 229 acres in 8N 44 W SEC 1
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold estate constituting the STR No. 844-1-31 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of STR 844-1-31, FOR BLACK RAVEN, by BARRY W. SPECTOR,
, dated
12-28-2009. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is 2695 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from BRINKEMA FARMS dated 3-21-01 and recorded in Deed Book Volume 275, Page
523 in the Recorders Office of County, PHILLIPS, covering approximately 208 acres in 8N 44W SEC 11
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold estate constituting the DIRKS No. 844-1-11-L5 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of DIRKS 844-1-11-L5, FOR BLACK RAVEN, by BARRY W. SPECTOR,
,
dated 8-23-2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is 2712 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated
and recorded in Deed Book Volume
, Page
in the Recorders Office of County, Phillips, covering approximately
acres in Amherst
Township, Phillips County, CO. |
||
(b) | The portion of the leasehold estate constituting the Obtjenbruns Trust 844-13-23 No. 26646 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of ,
, ,
, dated
20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding
royalty interests. |
||
No lease assignment. Well was dry and plugged. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from MARGIE FULSCHER dated 3-16-01 and recorded in Deed Book Volume 233, Page
296 in the Recorders Office of County, 187185 SEDGEWICK, covering approximately 880 acres in 9N 43W SEC 15
Township, SEDGEWICK County, CO. |
||
(b) | The portion of the leasehold estate constituting the FULSCHER No. 943-15-14 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of FULSCHER 943-15-14, for BLACK RAVEN, by BARRY W SPECTOR,
, dated 9-16-2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is 2700 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from DAVID & JULIE DIRKS dated 4-9-01 and recorded in Deed Book Volume 275, Page
703 in the Recorders Office of County, 215198 PHILLIPS, covering approximately acres in 9N, 43W, SEC 22
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold estate constituting the DIRKS No. 943-22-21 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of DIRKS 943-22-21, for BLACK RAVEN, by BARRY W SPECTOR,
,
dated 12-28-2009. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is 2713 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from JOE & DEB CROWDER dated 2-19-01 and recorded in Deed Book Volume 275, Page
317 in the Recorders Office of County, 215023 PHILLIPS, covering approximately 802 acres in 9N 43W SEC 31
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold estate constituting the OLSON No. 943-31-24 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of OLSON 942-31-24, FOR BLACK RAVEN, by BARRY W. SPECTOR,
,
dated 2-3-2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is 2697 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
The accompanying plat Is an accurate representation showing the Location of a proposed well. This location nay be described as a point 425 feet North of the South line, and 2150 Feet east of the V/est tine of Section 31 , Township 9 North , Range 43 V/est of the 6th P.M. Phillips County , Colorado. The surface elevation at this point is 3694 feet above n,s I. Note This is not a land survey plat. There are no visible improvements within 400 feet of the location W319N43GPS 9402-148 |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from JANE KRUEGER dated 8-28-01 and recorded in Deed Book Volume 278, Page
7 in the Recorders Office of County, 216196 PHILLIPS, covering approximately 153 acres in 9N, 43W, SEC 32
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold estate constituting the WALTERS No. 943-32-34 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of SEC 32, SE QTR, for BLACK RAVEN, by BARRY W. SPECTOR,
,
dated 11-21-2007. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is 2719 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
The accompanying plat is an accurate representation showing the location of a proposed well This location nay be described as a point 525 feet North of the South line, and 2320 feet West of the East line of Section 32, Township 9 North , Range 4.3 West of the 6th P.M., Phillips County , Colorado, The surface elevation at this point is 3677 feet above nsl Note; This is not a land survey plat, There are no visible improvements within 200 feet of the location W329N43GPS 7402-148 |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from STATE of COLORADO dated 5-17-01 and recorded in Deed Book Volume 276, Page
905 in the Recorders Office of County, 215703 PHILLIPS, covering approximately 640 acres in 9N 44W SEC 36
Township, PHILLIPS County, CO. |
||
(b) | The portion of the leasehold estate constituting the OLTJENBRUNS STATE No. 944-36-43 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of SEC 36, for BLACK RAVEN, by BARRY W. SPECTOR,
,
dated 12-22-2009. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is 2700 feet),
subject to the landowners royalty interest and overriding
royalty interests. |
The accompanying plot is an accurate representation showing the location of a proposed well., This location nay be described as a point 1950 feet North of the South line, and 475 feet West of the East line of Section 36 , Township 9 North , Range 44 Vest of the 6th P.M., Phillips County , Colorado. The surface elevation at this point is 3707 feet above nvs.t. Note: This is not a land survey plat. There are no visible improvements within 200 feet of the location W369N44GPS 7402-763 |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from D & M DIRKS dated 4-9-01 and recorded in Deed Book Volume 275, Page
703 in the Recorders Office of County, 215189 PHILLIPS, covering approximately 160 acres in 9N, 43W, SEC 22
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold estate constituting the DIRKS No. 943-22-22 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of SEC 22 NE QTR, for BLACK RAVEN, by BARRY W. SPECTOR,
,
dated 12-28-2009. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is 2708 feet),
subject to the landowners royalty interest and overriding royalty interests. |
The accompanying plat is an accurate representation showing the location of a proposed well This location nay be described as a point 1822 feet South of the North line, and 1761 feet East of the West line of Section 22, Township 9 North , Range 43 West of the 6th P.M., Phillips County , Colorado. The surface elevation at this point is 3641 feet n,s,l. Motet This is not a land survey plat. There are no visible improvements within 400 feet of the location , except an ex/sting center pivot irrigation system W229N43GPS 9402-159 |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from STATE of COLORADO dated 8-16-01 and recorded in Deed Book Volume 277, Page
55 in the Recorders Office of County, 215994 PHILLIPS, covering approximately 320 acres in 8N 43W SEC 6
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold estate constituting the STATE No. 844-1-34 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of SEC 1 SOUTH HALF, FOR BLACK RAVEN, by BARRY W. SPECTOR,
,
dated 12-23-2009. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is 2700 feet),
subject to the landowners royalty interest and overriding royalty interests. |
The accompanying plat Is an accurate representation showing the location of a proposed well. This location nay be described as a point 425 feet North of the South line, and 7660 feet West of the East line of Section ?6, Township 9 Worth , Range 43 West of the 6th P.M., Sedgwick Countv , Colorado. The surface elevation at this point Is 3647 feet above m.s.l. Note This Is not a land survey plat. There are no visible Improvements within 200 feet of the location M69N43GPS 7402-152 |
The accompanying plat is an accurate representation showing the location of a proposed well- This location nay be described as a point 2478 feet North of the South line, and 2279 feet east of the Vest line of Section 21, Township 9 North , Range 43 West of the 6th P.M. Phillips County , Colorado. The surface elevation at this point is 3667 feet above n-s.l. Note» This is not a land survey plat. There are no visible improvements within 400 feet of the location W219N43GPS 9402-160 |
The accompanying plat is an accurate representation showing the location of a proposed welt. This location nay be described as a point 1025 feet North of the South line, and 1447 Feet east of the West line of Section 6, Township 8 Worth , Range 43 West of the 6th P.M. Phillips County , Colorado The surface elevation at this point Is 3704 Feet above nsl. Notei This is not a land survey plat There are no visitote improvements within 400 feet oF the location W68N43GPS 9402-166 |
The accompanying plot is an accurate representation showing the location of a proposed well. This location may be described as a point .3434 feet South of the North line, anci 1280 feet West of the East line oF Section 5 , Township 8 North , Range 4.3 West oF the 6th P.H , Phillips County, Colorado The surface elevation at this point is .5683 feet above n s i. Note This is not a land survey plat There are no visible improvements within 100 feet of the location W58N45GPS 94-02-164 |
The accompanying plat is an accurate representation showing the location of a proposed well, This location may be described as a point .344 feet North of the South line, and 182-3 feet West of the East line of Section 31 , Township 9 North , Range 43 Vest of the 6th P.M., Phillips County , Colorado, The surface elevation at this point is 36S5 Feet above ri.si-Note- This is not a (and survey plat There are no visible improvements within 400 Feet of the location , except on existing overhead power line and Co Re/ 38, n W3WN43GPS 9402-165 |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from STATE of COLORADO dated 5-17-01 and recorded in Deed Book Volume 275, Page
703 in the Recorders Office of County, 215703 PHILLIPS, covering approximately 640 acres in 9N, 44W, SEC 36
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold estate constituting the OLTJENBRUNS No. 944-36-34 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of SEC 36, for BLACK RAVEN, by BARRY W. SPECTOR,
,
dated 12-22-2009. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is 2700 feet),
subject to the landowners royalty interest and overriding royalty interests. |
The accompanying plat is an accurate representation showing the location of a proposed well. This location nay be described as a point 557 Feet North of the South line, and 7470 feet West of the East line of Section 36, Township 9 North , Range 44 West of the 6th P.M., Phillips County , Colorado. The surface elevation at this point is 3772 feet above m.s I. Note: this is not a land survey plat. There are no visible improvements within 400 feet of the location W369N44CPS 7402-134RI |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from DUDDEN ELEVATOR dated 5-7-03 and recorded in Deed Book Volume 219592,
in the Recorders Office of County, PHILLIPS, covering approximately 160 acres in 9N, 43W, SEC 22
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold estate constituting the SCHLACTER No. 943-22-13 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of SCHLACTER 943-22-23, for BLACK RAVEN, by BARRY W. SPECTOR,
,
dated 10-14-2009. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is 2700 feet),
subject to the landowners royalty interest and overriding royalty interests. |
The accompanying plat Is an accurate representation showing the- location of a proposed well. This location nay be described as a point 1955 Feet North of the South line, and 721 feet east of the West line of Section 22, Township 9 North , Range 45 West of the 6th P.M Phillips County , Colorado. The surface elevation at this point Is 3646 feet above ns.l Note This is not a land survey plat. There are no visible improvements within 400 feet of the location W229N43GPS 9402-161 |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from D&S CLAYMON dated 2-19-01 and recorded in Deed Book Volume 275, Page
327 in the Recorders Office of County, 215028 PHILLIPS, covering approximately 855 acres in 8N 43W SEC 6
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold estate constituting the CLAYMON No. 843-6-11-25 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of SEC 6, SE
QTR, FOR BLACK RAVEN, by BARRY W. SPECTOR, _______, dated 1-25-2010. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is 2684 feet),
subject to the landowners royalty interest and overriding royalty interests. |
The accompanying plat Is on accurate representation showing the location of a proposed well. This location may be described as a point 1370 feet South of the North line, end 200 feet East of the West line of Section 6 , Township 8 North . Range 43 West of the 6th P.M, Phillips County . Colorado The surface elevation at this point is 3715 Feet msi. Note This is not a land survey plat There are no visible Improvements within 400 Feet of the location , except an existing County Road |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from D&M DIRKS dated 4-9-01 and recorded in Deed Book Volume 221005,
in the Recorders Office of County, PHILLIPS, covering approximately
173 acres in 9N, 43W, SEC 22
Township, PHILLIPS County, COLORADO. |
||
(b) | The portion of the leasehold estate constituting the DIRKS No. 943-22-31 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of SEC 22, NE
QTR, for BLACK RAVEN, by BARRY W. SPECTOR, ______, dated 12-28-2009. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is 2708 feet),
subject to the landowners royalty interest and overriding royalty interests. |
The accompanying plat is an accurate representation showing the location oF a proposed well. This location nay be described as a point 477 feet South oF the North line, and 2)5.3 feet West of the East tine of Section 22 , Township 9 North _____ , Range 43 Vest of the 6th P.M., Phillips County _____ , Colorado. The surface elevation at this point is 3632 feet above m.s.l, Note; This is not a land survey plat, There are no visible improvements within 400 feet of the location., except on existing center pivot irrigation system 9402- 162R |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
dated and recorded in Deed Book
Volume , Page
in the Recorders Office of County, Alcona, covering approximately
acres in Caledonia
Township, Alcona County, MI. |
||
(b) | The portion of the leasehold estate constituting the Davis #C2-29 No. 30496 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
,
dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 83.125% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
dated and recorded in Deed Book
Volume , Page
in the Recorders Office of County, Knox, covering approximately
acres in Vigo
Township, Knox County, IN. |
||
(b) | The portion of the leasehold estate constituting the Harting A3-35 HD No. 32031 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
,
dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 79.75% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
dated and recorded in Deed Book
Volume , Page
in the Recorders Office of County, Knox, covering approximately
acres in Widner
Township, Knox County, IN. |
||
(b) | The portion of the leasehold estate constituting the Telligman A1-23 HDN No. 32038 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
,
dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 87.58% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
dated and recorded in Deed Book
Volume , Page
in the Recorders Office of County, Knox, covering approximately
acres in Widner
Township, Knox County, IN. |
||
(b) | The portion of the leasehold estate constituting the Telligman, John A1-23 HDS No. 32039 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
,
dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 87,7765% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
dated and recorded in Deed Book
Volume , Page
in the Recorders Office of County, Knox, covering approximately
acres in Washington
Township, Knox County, IN. |
||
(b) | The portion of the leasehold estate constituting the Kirkwood B2- 5HD No. 32045 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) |
Title Opinion of
,
,
,
,
dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 87.5% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
dated and recorded in Deed Book
Volume , Page
in the Recorders Office of County, Knox, covering approximately
acres in Widner
Township, Knox County, IN. |
||
(b) | The portion of the leasehold estate constituting the Lisman B4- 29 HDS No. 32046 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
,
dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 76% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
dated and recorded in Deed Book
Volume , Page
in the Recorders Office of County, Knox, covering approximately
acres in Widner
Township, Knox County, IN. |
||
(b) | The portion of the leasehold estate constituting the Diekman A2-2 HDN No. 32054 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
,
dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 87,7765% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately acres in Washington
Township, Knox County, IN. |
||
(b) | The portion of the leasehold estate constituting the Diekman, Robert A2-2 HDS No. 32055 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
, dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 87.7765% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Alcoma, covering approximately acres in Alcoma
Township, Alcoma County, MI. |
||
(b) | The portion of the leasehold estate constituting the Errigo D1-29 No. 32089 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
, dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 83.125% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately acres in Widner
Township, Knox County, IN. |
||
(b) | The portion of the leasehold estate constituting the Kirk B1-8 HD No. 32095 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
, dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 80% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately acres in Widner
Township, Knox County, IN. |
||
(b) | The portion of the leasehold estate constituting the Hooper D4-17 HDN No. 32096 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
, dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 82.40084% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately acres in Widner
Township, Knox County, IN. |
||
(b) | The portion of the leasehold estate constituting the Williams, Marvin D1-17+IDS No. 32097 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
, dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 83.84612% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately acres in Widner
Township, Knox County, IN. |
||
(b) | The portion of the leasehold estate constituting the Boberg D1-34 HDN No. 32098 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
, dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 80% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately acres in Vigo
Township, Knox County, IN. |
||
(b) | The portion of the leasehold estate constituting the Rasera A1-24 HDS No. 32099 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
, dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 76% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately acres in Vigo
Township, Knox County, IN. |
||
(b) | The portion of the leasehold estate constituting the Buescher B3-14 HDS No. 32100 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
, dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 80% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Sullivan, covering approximately acres in Bill
Township, Sullivan County, IN. |
||
(b) | The portion of the leasehold estate constituting the Shrum A3-21 HDS No. 32123 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
, dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 90% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately acres in Widner
Township, Knox County, IN. |
||
(b) | The portion of the leasehold estate constituting the Diekman D4-13 HDN No. 32125 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
, dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 83.52697% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately acres in Widner
Township, Knox County, IN. |
||
(b) | The portion of the leasehold estate constituting the Koenig A3-9 HDN No. 32131 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
, dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 80% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately acres in Widner
Township, Knox County, IN. |
||
(b) | The portion of the leasehold estate constituting the Dix & Strate D1-10 HDN No. 32132 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
, dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 80% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately acres in Widner
Township, Knox County, IN. |
||
(b) | The portion of the leasehold estate constituting the Hooper, Daniel D4-17 HDS No. 32133 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
, dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 76.5252% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately acres in Widner
Township, Knox County, IN. |
||
(b) | The portion of the leasehold estate constituting the Rusk, Vera D2-21 HDS No. 32134 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
, dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 76.15322% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately acres in Widner
Township, Knox County, IN. |
||
(b) | The portion of the leasehold estate constituting the Holscher D3-27 HDN No. 32135 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
, dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 87.7765% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately acres in Vigo
Township, Knox County, IN. |
||
(b) | The portion of the leasehold estate constituting the Koenig D4-17 HDN No. 32138 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
, dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 76% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately acres in Washington
Township, Knox County, IN. |
||
(b) | The portion of the leasehold estate constituting the Kirkwood B4-5 HDN No. 32140 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
, dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 82.932% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately acres in Busseron
Township, Knox County, IN. |
||
(b) | The portion of the leasehold estate constituting the Polk, Mary C1-22 HDS No. 32142 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
, dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 87.7765% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately acres in Washington
Township, Knox County, IN. |
||
(b) | The portion of the leasehold
estate constituting the Dellinger A1-11- HDS No. 32145 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
, dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 87.7765% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately acres in Washington
Township, Knox County, IN. |
||
(b) | The portion of the leasehold estate constituting the Franklin A3-10 HDS No. 32146 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
, dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 87.7765% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately acres in Busseron
Township, Knox County, IN. |
||
(b) | The portion of the leasehold estate constituting the Kerns D4-9 HDN No. 32156 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
, dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 87.7765% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately acres in Widner
Township, Knox County, IN. |
||
(b) | The portion of the leasehold estate constituting the Schuckman, Alvin & Carl D1-4 HDS No. 32158 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
, dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 76% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately acres in Widner
Township, Knox County, IN. |
||
(b) | The portion of the leasehold estate constituting the Johannings meier, Carl C3-27 HDS No. 32159 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
, dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 81.75% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately acres in Widner
Township, Knox County, IN. |
||
(b) | The portion of the leasehold estate constituting the Sargent D3-6 HDN No. 32163 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
, dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 76% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately acres in Widner
Township, Knox County, IN. |
||
(b) | The portion of the leasehold estate constituting the Daugherty D3-12 HDN No. 32165 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of
,
,
,
, dated 20 . |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 87.58551% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated and recorded in Deed Book Volume , Page in the Recorders Office of County, Knox, covering approximately acres in Washington Township, Knox County, IN. | ||
(b) | The portion of the leasehold estate constituting the Chattin C1-1 HDS No. 32167 Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of , , , , dated 20 . | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 87,7765% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is feet), subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated and recorded in Deed Book Volume , Page in the Recorders Office of County, Knox, covering approximately acres in Washington Township, Knox County, IN. | ||
(b) | The portion of the leasehold estate constituting the Debu isseret D4-4 HDN No. 32168 Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of , , , , dated 20 . | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 87,7765% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is feet), subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated and recorded in Deed Book Volume , Page in the Recorders Office of County, Knox, covering approximately acres in Busseron Township, Knox County, IN. | ||
(b) | The portion of the leasehold estate constituting the Schulze D2-33 HDN No. 32169 Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of , , , , dated 20 . | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 87,7765% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is feet), subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated and recorded in Deed Book Volume , Page in the Recorders Office of County, Knox, covering approximately acres in Busseron Township, Knox County, IN. | ||
(b) | The portion of the leasehold estate constituting the Schulze, Michael D-233 HDS No. 32170 Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of , , , , dated 20 . | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 87,7765% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is feet), subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated and recorded in Deed Book Volume , Page in the Recorders Office of County, Knox, covering approximately acres in Washington Township, Knox County, IN. | ||
(b) | The portion of the leasehold estate constituting the Kerns, Carolyn D4-9 HDS No. 32173 Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of , , , , dated 20 . | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 87,7765% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is feet), subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated and recorded in Deed Book Volume , Page in the Recorders Office of County, Knox, covering approximately acres in Washington Township, Knox County, IN. | ||
(b) | The portion of the leasehold estate constituting the Hagemeier A2-19 HDS No. 32177 Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of , , , , dated 20 . | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 87,7765% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is feet), subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated and recorded in Deed Book Volume , Page in the Recorders Office of County, Knox, covering approximately acres in Washington Township, Knox County, IN. | ||
(b) | The portion of the leasehold estate constituting the Carmichael A1-35 HDN No. 32179 Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of , , , , dated 20 . | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 87,7765% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is feet), subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated and recorded in Deed Book Volume , Page in the Recorders Office of County, Kalkaska, covering approximately acres in Clearwater Township, Kalkaska County, MI. | ||
(b) | The portion of the leasehold estate constituting the Newkirk B4-12 No. 32188 Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of , , , , dated 20 . | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 100% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is feet), subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated and recorded in Deed Book Volume , Page in the Recorders Office of County, Otsego, covering approximately acres in Elmiva Township, Otsego County, MI. | ||
(b) | The portion of the leasehold estate constituting the Drinde B4-22 No. 32198 Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of , , , , dated 20 . | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 100% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is feet), subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated and recorded in Deed Book Volume , Page in the Recorders Office of County, Knox, covering approximately acres in Vigo Township, Knox County, IN. | ||
(b) | The portion of the leasehold estate constituting the Heidenreich, Mary D3-18 HDSRS No. 32205 Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of , , , , dated 20 . | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 80.75% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is feet), subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated and recorded in Deed Book Volume , Page in the Recorders Office of County, Antrim, covering approximately acres in Chestonia Township, Antrim County, MI. | ||
(b) | The portion of the leasehold estate constituting the Tannehill C3-19 No. 32210 Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of , , , , dated 20 . | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 100% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is feet), subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated and recorded in Deed Book Volume , Page in the Recorders Office of County, Knox, covering approximately acres in Washington Township, Knox County, IN. | ||
(b) | The portion of the leasehold estate constituting the Rust D4-36 HDS No. 32212 Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of , , , , dated 20 . | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 85,50204% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is feet), subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated and recorded in Deed Book Volume , Page in the Recorders Office of County, Knox, covering approximately acres in Vigo Township, Knox County, IN. | ||
(b) | The portion of the leasehold estate constituting the Buescher, ET AL B3-14 HDN No. 32217 Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of , , , , dated 20 . | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 80% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is feet), subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated and recorded in Deed Book Volume , Page in the Recorders Office of County, Daviess, covering approximately acres in Barr Township, Daviess County, IN. | ||
(b) | The portion of the leasehold estate constituting the Wagler A4-16 HDS No. 32220 Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of , , , , dated 20 . | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 100% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is feet), subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated and recorded in Deed Book Volume , Page in the Recorders Office of County, Daviess, covering approximately acres in Washington Township, Daviess County, IN. | ||
(b) | The portion of the leasehold estate constituting the Mattingly D1-S HDN No. 32221 Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of , , , , dated 20 . | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 100% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is feet), subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated and recorded in Deed Book Volume , Page in the Recorders Office of County, Knox, covering approximately acres in Widner Township, Knox County, IN. | ||
(b) | The portion of the leasehold estate constituting the Williams, S1-HD No. 32241 Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of , , , , dated 20 . | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 87,7765% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is feet), subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated and recorded in Deed Book Volume , Page in the Recorders Office of County, Knox, covering approximately acres in Widner Township, Knox County, IN. | ||
(b) | The portion of the leasehold estate constituting the Telligman Farms 1-HD No. 32242 Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of , , , , dated 20 . | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 87,7765% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is feet), subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated and recorded in Deed Book Volume , Page in the Recorders Office of County, Knox, covering approximately acres in Harrison Township, Knox County, IN. | ||
(b) | The portion of the leasehold estate constituting the Wilson A3-32 HDN No. 32245 Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of , , , , dated 20 . | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 100% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is feet), subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from dated and recorded in Deed Book Volume , Page in the Recorders Office of County, Knox, covering approximately acres in Harrison Township, Knox County, IN. | ||
(b) | The portion of the leasehold estate constituting the Williams D2-27 HDN No. 32251 Well Location is described on the map attached hereto as Exhibit A-1. | ||
(c) | Title Opinion of , , , , dated 20 . | ||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an undivided 100% Working Interest to those oil and gas rights from the surface to the deepest depth penetrated at the cessation of drilling activities (which is feet), subject to the landowners royalty interest and overriding royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
dated
and recorded in Deed Book Volume ,
Page
in the Recorders Office of County, Knox, covering approximately
acres in Palmyra Township, Knox County, IN. |
||
(b) | The portion of the leasehold
estate constituting the Carnahan C1-24-66 HDN No. 32253 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of ,
,
,
,
dated
20__. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
dated
and recorded in Deed Book Volume ,
Page
in the Recorders Office of County, Knox, covering approximately
acres in Harrison Township, Knox County, IN. |
||
(b) | The portion of the leasehold
estate constituting the McCormich C1-4-84 HDN No. 32274 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of ,
,
,
,
dated
20__. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is
feet), subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
dated
and recorded in Deed Book Volume ,
Page
in the Recorders Office of County, Kalkaska, covering approximately
acres in Boardman Township, Kalkaska County, MI. |
||
(b) | The portion of the leasehold
estate constituting the Lucas 1-13 HD No. 32277 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of ,
,
,
,
dated
20__. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
dated
and recorded in Deed Book Volume ,
Page
in the Recorders Office of County, Antrim, covering approximately
acres in Mancelona Township, Antrim County, MI. |
||
(b) | The portion of the leasehold
estate constituting the St. Mancelonia 1-28 HD No. 32278 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of ,
,
,
,
dated
20__. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
dated
and recorded in Deed Book Volume ,
Page
in the Recorders Office of County, Knox, covering approximately
acres in Widner Township, Knox County, IN. |
||
(b) | The portion of the leasehold
estate constituting the Schroeder Farms 1-14 No. 32294 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of ,
,
,
,
dated
20__. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 54.4927% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is
feet),
subject to the landowners royalty interest and overriding
royalty interests. |
||
No lease assignment. Well was
dry and plugged. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Missaukee, covering approximately
acres in Norwich W Township, Missaukee County, MI. |
||
(b) | The portion of the leasehold
estate constituting the St. Norwich 1-6 HD No. 32295 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of ,
,
,
,
dated
20__. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately
acres in Barr Township, Knox County, IN. |
||
(b) | The portion of the leasehold
estate constituting the Bradley #D2-2 HDN No. 32299 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of ,
,
,
,
dated
20__. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately
acres in Widner
Township, Knox County, IN. |
||
(b) | The portion of the leasehold
estate constituting the Rusk D2-21 HDN-A No. 32301 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of ,
,
,
,
dated
20__. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 76,15635% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately
acres in Widner Township, Knox County, IN. |
||
(b) | The portion of the leasehold
estate constituting the Courter A3-24 HDN No. 32303 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of ,
,
,
,
dated
20__. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 76% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately
acres in Palmyra Township, Knox County, IN. |
||
(b) | The portion of the leasehold
estate constituting the Otten Ad-13-91 HDN No. 32346 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of ,
,
,
,
dated
20__. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately
acres in Palmyra Township, Knox County, IN. |
||
(b) | The portion of the leasehold
estate constituting the Ice D3-24-80 HDN No. 32342 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of ,
,
,
,
dated
20__. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately
acres in Steen Township, Knox County, IN. |
||
(b) | The portion of the leasehold
estate constituting the Carnahan B3-18-103 HDN No. 32343 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of ,
,
,
,
dated
20__. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately
acres in Steen Township, Knox County, IN. |
||
(b) | The portion of the leasehold
estate constituting the Downen B1-32-82 HDN No. 32349 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of ,
,
,
,
dated
20__. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately
acres in Palmyra Township, Knox County, IN. |
||
(b) | The portion of the leasehold
estate constituting the Carnahan C2-13-79 HDN No. 32361 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of ,
,
,
,
dated
20__. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding
royalty interests. |
1. | WELL LOCATION |
(a) | Oil and Gas Lease from
dated
and recorded in Deed Book Volume , Page
in the Recorders Office of County, Knox, covering approximately
acres in Palmyra Township, Knox County, IN. |
||
(b) | The portion of the leasehold
estate constituting the Carnahan A4-26-65 HDS No. 32362 Well Location is
described on the map attached hereto as Exhibit A-1. |
||
(c) | Title Opinion of ,
,
,
,
dated
20__. |
||
(d) | The Developers interest in the leasehold estate constituting the Well Location is an
undivided 100% Working Interest to those oil and gas rights from the surface to the
deepest depth penetrated at the cessation of drilling activities (which is feet),
subject to the landowners royalty interest and overriding
royalty interests. |
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