"Development incentive well" means, as determined and certified by the Industrial Commission, a well spud after June 30, 2025, which:
a. Utilizes a new or innovative drilling or completion technique that constitutes a technical advancement that has not been previously utilized with demonstrated success by the operator within the specific formation targeted for development by that operator;
b. Demonstrates the capability to develop reserves within the target formation that would otherwise remain underdeveloped or undeveloped under existing drilling or completion techniques; and
c. Is designed and anticipated to, more likely than not, increase the number of new wells, additional production, or the ultimate recovery of oil or gas within the target formation
General parameters for a New or Innovative Technology (not all inclusive)
1. New drilling or completion technique constituting a technical advancement that has not been successfully utilized within the proposed formation.
2. Significant areal distance between applications if the same technology is being utilized.