دیکشنری تخصصی مهندسی نفت - نسخه آنلاین

n: acreage owned in the vicinity of a test well being drilled by another party and contributed to the driller of the well in return for information obtained from its drilling. The assignment of information is usually made on completion of the well.

n: a transfer of rights and interests in real or personal property or rights under a contract-for example, the transfer of an oil and gas lease from the original lessee to another party.

n: a clause in any instrument that allows either party to the instrument to assign all or part of his or her interest to others.

n: when several producers, either voluntarily or by state regulation, pool acreages to form a unit." They may cross-assign their leases to one another, creating a common obligation to each royalty owner.

n: a form for drilling work assignment ,and the working content ,planed time and ware matters included in this form

n: an agreement whereby the owner of a lease who does not wish to drill at the time agrees to assign the leasehold interest, or some part of it, to a third party who does wish to drill, conditional on the third partys drilling a well within the expiration date of the primary term of the lease. The assignment may include the entire interest together with dry hole money, or partial interest or entire interest with or without an override. If an override is retained, the owner of the lease may retain an option to convert such overriding royalty retained to an agreed-upon working interest. A farmout is distinguished from a joint operating agreement by the fact that the partner farming out does not incur any of the drilling costs. The primary characteristic of a farmout is the obligation of the third party to drill one or more wells on the farmout acreage as a condition prerequisite to completion of the transfer of title to such third party.

n: the share of production remaining to the working-interest owners after all royalties, overriding royalties, production payments, and other reservations or assignments have been deducted..

n: an interest carved out of the lessees working interest. It entitles its owner to a fraction of production free of any production or operating expense, but not free of production or severance tax levied on production. An overriding royalty may be created by grant or by reservation. Commonly, an override is reserved by the assignor in a farmout agreement or other assignment. An overrides duration corresponds to that of the lease from which it was created.

n: a part of a farm-out agreement or other assignment that stipulates an obligation to reassign earned acreage back to the farmor or assignor before the farmee or assignee allows the lease to expire on the acreage.