Farm Out
what preps said to make fun of the term “far out”. this also corrisponded with “right arm”
“farm out, you dope smoking hippies”
a contractual agreement with an owner who holds a working interest in an oil and gas lease to -ssign all or part of that interest to another party in exchange for fulfilling contractually specified conditions. the farmout agreement often stipulates that the other party must drill a well to a certain depth, at a specified location, within a certain time frame; furthermore, the well typically must be completed as a commercial producer to earn an -ssignment. the -ssignor of the interest usually reserves a specified overriding royalty interest, with the option to convert the overriding royalty interest to a specified working interest upon payout of drilling and production expenses, otherwise known as a back-in after payout (biapo).
there’s nothing more satisfying for middle management than being the decision maker on a farm out.
giving your dog up to a farm because he can’t function in an urban environment.
” i love the little b-st-rd with all my heart, but i had to farm out little boo. he couldn’t take being cooped in that apartment all the time. christ, i miss him.”
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