farmout

[ fahrm-out ]

noun

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

Word History and Origins

Origin of farmout¹

Noun use of verb phrase farm out

Example Sentences

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.

From Forbes

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.

From Reuters

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

From Reuters

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

From Reuters

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.

From Reuters