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farmout

[fahrm-out]

noun

  1. an act or instance of farming out or leasing, as land for oil exploration.

  2. something farmed out.



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Word History and Origins

Origin of farmout1

Noun use of verb phrase farm out
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Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

As a result, we are reviewing opportunities in multiple operating areas to create additional value through strategic asset sales, joint venture agreements and participation, or farmout agreements.

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He said other options included a farmout, in which an oil company sells a small stake in its assets, or hedging through selling Brent oil futures.

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The farmout agreement gives Conocophillips the option to takeover operating the basin, where exploration is restricted by the French government, after the initial phase.

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Equal Energy, which converted to a corporation from Enterra Energy Trust last year, had a farmout dispute with Petroflow which was resolved in January.

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Equal and Petroflow will equalize on a 50:50 basis the interests in zones above the Hunton in sections of land that were earned during the farmout, and Petroflow will operate a development program over these assets, Equal Energy said in a statement.

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