WebTools. In the oil and gas industry, a farmout agreement is an agreement entered into by the owner of one or more mineral leases, called the "farmor", and another company who … WebJul 6, 2024 · It furthers states, "The term 'farming purposes' means -- handling, drying, packing, grading, or storing on a farm any agricultural or horticultural commodity in its unmanufactured state." Other ...
Farm out definition and meaning Collins English Dictionary
WebMay 25, 2024 · A farmout is when a resource-producing property is outsourced for development to a third party or farmee. The farmee pays the owner (farmor) royalties on income generated from the outsourced ... WebThe Basics: A Farmout Agreement is an agreement with a working interest owner (“Farmor”) whereby the Farmor agrees to assign working interest to the Farmee in exchange for certain contractually agreed services. … joah brown return policy
Farm-out Definition & Meaning YourDictionary
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