farmout agreement
farmout agreement 〈美〉转让协议 拥有采矿权的人协议将采矿权转让给第三人，由第三人自费勘探、采掘石油或天然气，钻取后成为矿产的所有人，但需向原采矿权人支付一定的矿区使用费。
FARMOUT AGREEMENT
farmout agreement
farmout agreement. Oil & gas. An agreement by which one who owns an oil-and-gas lease (the farmoutor or farmor) agrees to assign to another (the farmoutee or farmee) an interest in the lease in return for drilling and testing operations on the lease. • For the farmor, the agreement either (1) maintains the lease by