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Simple English definitions for legal terms

farmoutee

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A quick definition of farmoutee:

Term: FARMOUTEE

Definition: A farmoutee is a person or company that is given permission to drill for oil or gas on a leased property. They are like a tenant who rents the land to drill for resources. They are also called farmees or farminees.

A more thorough explanation:

Definition: A farmoutee is a person or company that is assigned a lease for the purpose of drilling a well in the oil and gas industry. They are also known as farmees or farminees.

Example 1: XYZ Oil Company leases a piece of land for oil and gas exploration. They do not have the resources to drill a well, so they assign the lease to ABC Drilling Company. ABC Drilling Company becomes the farmoutee and is responsible for drilling the well.

Example 2: John owns a small oil and gas company and wants to expand his operations. He finds a lease that has already been assigned to a farmoutee. John negotiates with the farmoutee to become a partner in the drilling project.

These examples illustrate how a farmoutee is assigned a lease for the purpose of drilling a well. In both cases, the original lessee did not have the resources or desire to drill a well, so they assigned the lease to a farmoutee. The farmoutee then becomes responsible for drilling the well and may partner with other companies to complete the project.

farmout agreement | farmoutor

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babycat
11:16
School fucked up so bad they got hellwoods to sign a petition
11:16
Ive also heard their career center is awful too, I think its why it will never be anything but 14-15
JumpySubsequentDolphin
11:17
@Dkk: i think a law student was pregnant and due to give birth a few days before finals and they refused to accomodate her
JumpySubsequentDolphin
11:17
accommodate*
11:17
@Mostlylegal: yeah and i was thinking fuck it just go party for three years but i got other options and need to start building, top law schools were worth that 3 year pause but i am not sure i can do that for asu and their outcomes
11:19
Also I just got diagnosed with ADHD is it stupid if I dont take the test again now that Im medicated?
Dkk
11:19
She offered to take it early? Should have given her that one. Remote I can understand saying no to but taking it early, yes.
babycat
11:20
big things coming for babycat. I own a resistance band now
concorde
11:20
@renard99: jones needs to take this advice and fight aspinall
11:21
is that what they are calling punk rock bands these days?
BulbasaurNoLikeCardio
11:21
@babycat: did you get a booboo or just trying to do more workouts at home?
11:21
@Mostlylegal: I jumped six points after beginning adhd meds. Might be worth it
Dkk
11:22
Just an hour and 38 minutes left before I can ask Kayle in LSAT Demon to marry me. I take these AMA's seriously.
11:22
@concorde: “I will retire Jon Jones without even fighting him” hardest thing anyone in the UFC ever said
m10
11:23
i spelled her fucking name wrong lmfao, Kaley. Lmfao.
BulbasaurNoLikeCardio
11:24
It was years ago but it was a lower card fight, dude didn't speak good english and they tried asking him his plan, he was like "punch him" they tried to get more info pushing it again and he said "punch him hard" and pointed at his forehead.... I don't remember the results of the fight but dude had a solid plan.
babycat
11:24
@BulbasaurNoLikeCardio: no booboo I’m just trying to increase flexibility a little. I feel like if u develop too much muscle on ur legs and don’t stretch they get tight
JumpySubsequentDolphin
11:26
my hips are so tight its acc miserable
BulbasaurNoLikeCardio
11:26
@babycat: got to keep those legs flexible so you don't pull anything, I need to get back into yoga to release and stretch out tension in my muscles. Stretching is where I fail the most with fitness
11:26
This song came out today and I think I legit have listened to it like 50
11:26
Times already
1a2b3c4d26z
11:26
Need to stretch more
1a2b3c4d26z
11:27
Run this morning felt like legs were made of goop
glovediedthisishismom
11:27
a secret home remedy for chapped lips is to lick them. your saliva will moisten the lips and relieve the chapping
1a2b3c4d26z
11:27
Sometimes I think I write like rorschach from watchmen
11:28
@glovediedthisishismom: just bite your lip,. gives good brain feel when peelin the dry skin
babycat
11:28
yeah it’s insane how much better hip flexor stretches can make you feel sometimes
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