dry hole

American  

[drahy hohl] / ˈdraɪ ˈhoʊl /

noun

1. Also called duster.  any well drilled for oil or gas that does not yield enough to be commercially profitable.

   After three consecutive dry holes, we were delirious when this site came through big for us.

2. a failed business venture, especially one that began with expectations and promises of high profitability.

   How do we explain to our investors yet another dry hole from our video games division?

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dry hole British  

noun

1. (in the oil industry) a well that is drilled but does not produce oil or gas in commercially worthwhile amounts

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Etymology

Origin of dry hole

An Americanism dating back to 1880–85

Example Sentences

You’re digging a dry hole, my dear.

From New York Times

“For me, if I’ve got agreement from two sources, hopefully it’s less likely that when I drill, I’ll hit a dry hole,” said Proctor, who told me Thompson has been right before on his property.

From Los Angeles Times

It’s time to make our offshore waters a dry hole for oil producers.

From Los Angeles Times

Shell bought leases in the Chukchi Sea off the northwest coast of Alaska in 2008 and spent more than $7 billion only to drill a dry hole in 2015.

From Washington Post

A 2006 National Geographic investigation reported the well was a “dry hole,” based on numerous sources that had access to the well data.

From National Geographic