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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译者Paul,毕业于一所培养最顶级翻译人才的语言学院,擅长翻译各种与地产争端解决相关的法律文件。
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