drilling contract

Oil & gas. A well-drilling agreement between a drilling contractor, who owns drilling rigs and associated equipment, and the owner or lessor of the mineral rights.

• The contract spells out the rights and duties of the parties. In general, the more control the interest-owner retains over the contractor, the more liability the owner is exposed to for damages the drilling causes.

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词条贡献者

译者张文，国际知名商学院金融专业，擅长翻译各种与结构性融资及衍生品诉讼相关的法律文件。