dry hole clause

dry-hole clause. Oil & gas. A provision in an oil-and-gas lease specifying what a lessee must do to maintain the lease for the remainder of the primary term after drilling an unproductive well. • A dry-hole clause is intended to make clear that the lessee may maintain the lease by paying delay rentals for the remainder of the primary term.

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词条贡献者

译员Max，毕业于欧洲一流的法学院，专注翻译各种与通用数据保护条例 (GDPR)有关的法律文件。