MLchartDataset catalogue

Farmout

Term · Oil and gas · MLC-T-OAG-001370

A contractual agreement in which the owner of an oil and gas lease, the farmor, assigns all or part of their operating rights to another party, the farmee. The farmee agrees to drill a well on the leased acreage at their own expense in exchange for the assignment. This arrangement is common for exploring undeveloped acreage or testing new geological concepts.

Table 1. Record
IdentifierMLC-T-OAG-001370
FieldOil and gas
SubjectOil and Gas Business
Record as JSON 
{
  "id": "MLC-T-OAG-001370",
  "term": "Farmout",
  "field": "Oil and gas",
  "definition": "A contractual agreement in which the owner of an oil and gas lease, the farmor, assigns all or part of their operating rights to another party, the farmee. The farmee agrees to drill a well on the leased acreage at their own expense in exchange for the assignment. This arrangement is common for exploring undeveloped acreage or testing new geological concepts.",
  "subject": "Oil and Gas Business",
  "url": "https://mlchart.com/terminology/oil-and-gas/farmout/"
}

Record 1,477 of 4,469 in Oil and gas terminology (MLC-0103). Request the full dataset.