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.
Indiana Farmout Agreement Providing For Multiple Wells with Dry Hole Earning An Assignment
Category:
State:
Multi-State
Control #:
US-OG-222
Format:
Word;
Rich Text
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