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.
Farmout Agreement - Short Form
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Multi-State
Control #:
US-OG-224
Format:
Word;
Rich Text
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Description Farmout Agreement
Free preview What Is A Farm Out
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Whats A Farmout Form popularity
Farm Out Lease Other Form Names
Farmout Agreement Oil And Gas
Farm Out Agreement
Farm Out Oil And Gas
Farm In Farm Out Agreement
Farmout Deal
Oil Farm Out
Oil And Gas Farmout
Farm Out Deal FAQ
An oil and gas farmout agreement is an agreement by the owner of an oil and gas lease (the farmor) to assign all or part of the working interest in that lease to another party (the farmee), who agrees to drill a well and do testing on the property in exchange for the opportunity to earn a formal assignment of
1. n. Oil and Gas Business The point at which all costs of leasing, exploring, drilling and operating have been recovered from production of a well or wells as defined by contractual agreement.
Ordinarily, the Farmor has already undertaken some exploration, and seeks another party to share the costs of undertaking further exploration or completing it.Often, Farm-in/Farm-out Agreements specify that more than one interest (or percentage) is transferred at various stages of exploration.
'Farm-in' expenditure is incurred when an entity in this line of business acquires a PI from another entity(s) in oil/gas block(s) and becomes part of the PSC entered into with the Central Government.
Farm-In Agreement means an agreement whereby a Person agrees, among other things, to pay all or a share of the drilling, completion or other expenses of one or more wells or perform the drilling, completion or other operation on such well or wells as all or a part of the consideration provided in exchange for an
The farm-down model, otherwise known as asset rotation or build-sell-operate, involves utilities selling stakes in green power assets to institutional investors seeking long-term, stable yield. In the case of renewable energy, revenues for such projects have, until now, been underpinned by guaranteed subsidies.
The farm-down model, otherwise known as asset rotation or build-sell-operate, involves utilities selling stakes in green power assets to institutional investors seeking long-term, stable yield. In the case of renewable energy, revenues for such projects have, until now, been underpinned by guaranteed subsidies.