A farmout agreement is used when the "farmor" agrees to assign acreage to the "farmee" in return for the "farmee" performing specified drilling and testing obligations, with the "farmor" also reserving an interest in the acreage assigned and in the production from the wells drilled by the second company.
California Farmout Agreement Providing For Single Well, with Dry Hole Earning An Assignment
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Multi-State
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US-OG-221
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Word;
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How to fill out California Farmout Agreement Providing For Single Well, With Dry Hole Earning An Assignment?
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