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Examples
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In their Fourth Amended Original Petition, Plaintiffs allege that Pioneer acted wrongfully in connection with its management of and operations on properties in which the Partnership holds an interest, including alleged wrongful acts concerning a "farmout" to Woodside affecting those properties.
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Mr. Martin said Tullow would meet with Cnooc and Total in London on Wednesday to start the process of reaching a final agreement on the structure of the farmout, including the portion of taxes to be covered by Total and Cnooc.
Uganda-Tullow Tax Deal Clears Way for Total, Cnooc Nicholas Bariyo 2011
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Stellar Energy Advisors Limited have been retained to market and seek a partner to fund the drilling of these wells in exchange for equity in the license, via a farmout.
unknown title 2011
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The execution of farmout arrangements will reduce the Company's capital exposure and allow it to receive reimbursement of some or all of its sunk costs associated with these projects.
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The acquisition of an additional interest in Stella and the subsequent Challenger Minerals (North Sea) Limited farmout gave access, with operator control, to the important Greater Stella Area.
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A well is planned to test the very large stacked Edwards and Sligo reefal carbonate reservoir targets in 2H10, subject to a successful farmout.
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With the lands included by the Maxhamish farmout agreement and the direct interest lands just acquired, over 100 sections of land are now available for drilling, with the possibility of drilling up to four wells per section.
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The execution of farmout arrangements will reduce the Company's capital exposure and allow it to receive reimbursement of some or all of its sunk costs associated with these projects.
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To fund this circumstance, the Company is pursuing a farmout or sale of the North Block, which will result in an up-front cash payment plus an undertaking of the exploration and development obligations to earn a portion of the Company's interest.
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The company executed a farmout agreement to acquire the development rights to hydrocarbon concessions in the Republic of Paraguay.
vendingmachine commented on the word farmout
1. n. oil and gas business
A contractual agreement with an owner (farmor: the party that originally owns the leasehold interest and assigns the farmout) who holds a working interest in an oil and gas lease to assign all or part of that interest to another party in exchange for fulfilling contractually specified conditions. The farmout agreement often stipulates that the other party must drill a well to a certain depth, at a specified location, within a certain time frame; furthermore, the well typically must be completed as a commercial producer to earn an assignment.
June 28, 2015