operating agreementglossary / OPERATING AGREEMENT operating agreement. Oil & gas. A contract among owners of the working interest in a producing oil or gas well setting forth the parties’ agreements about drilling, development, operations, and accounting. 词条贡献者 译员Nanda,毕业于英国顶尖的高级翻译学院,专注翻译各种与证券和消费者集体诉讼有关的法律文件。