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Simple English definitions for legal terms

farminor

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A quick definition of farminor:

Term: FARMINOR

Definition: A farminor is someone who leases land for oil and gas exploration but then assigns the lease to another person who agrees to drill a well. This person is also known as a farmouter or farmor.

A more thorough explanation:

FARMINOR

A farminor is an oil-and-gas lessee who assigns the lease to another party, who agrees to drill a well. It is also known as farmoutor or farmouter.

  • Company A owns an oil-and-gas lease but does not have the resources to drill a well. They assign the lease to Company B, who agrees to drill a well. Company A is the farminor in this situation.
  • John owns an oil-and-gas lease but is not interested in drilling a well. He assigns the lease to his friend, who is an experienced oil driller. John is the farminor in this situation.

These examples illustrate the definition of farminor, which is a lessee who assigns the lease to another party who agrees to drill a well. In both cases, the original lessee did not have the resources or interest to drill a well, so they assigned the lease to someone else who did. This is a common practice in the oil-and-gas industry, as it allows companies or individuals to benefit from their leases without having to invest in drilling equipment or expertise.

farming operation | farm let

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JumpySubsequentDolphin
20:50
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20:50
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20:51
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JumpySubsequentDolphin
21:32
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21:32
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21:34
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21:35
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21:35
he has since moved
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22:39
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22:45
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