TERMIUM Plus®

The Government of Canada’s terminology and linguistic data bank.

FARM-IN [2 records]

Filter results by subject field Alphabetical list of terms

Filter results by subject field

Alphabetical list of terms

Record 1 2001-06-19

English

Subject field(s)
  • Commercial Utilization (Oil and Natural Gas)
  • Mining Rights and Concessions
  • Law of Contracts (common law)
DEF

farm-in, farm-out: An agreement between two exploration companies, whereby the prospecting rights of one are assigned to the other, in whole or in part, subject to the approval of the licensing authority.

OBS

The original lessee agrees to farm-out his holding and the new lessee farms-in while usually taking on an obligation to do certain drilling work in return for a consideration, usually a share of any profits from a strike.

French

Domaine(s)
  • Exploitation commerciale (Pétrole et gaz naturel)
  • Droit minier
  • Droit des contrats (common law)
DEF

accord d'affermage (en anglais : farm-in, farm out) : accord entre deux compagnies d'exploration par lequel les droits de prospection de l'une sont attribués à l'autre, en tout ou en partie, moyennant l'approbation du gouvernement qui a accordé les permis.

OBS

Le détenteur primitif accepte de louer son permis et le nouveau détenteur s'engage généralement à une obligation de travaux, contre une part des bénéfices en cas de découverte.

OBS

«farm-in» : accord d'affermage (acquisition d'une part).

OBS

«farm-out» : accord d'affermage (cession d'une part).

Spanish

Save record 1

Record 2 2001-06-19

English

Subject field(s)
  • Commercial Utilization (Oil and Natural Gas)
  • Law of Contracts (common law)
DEF

An arrangement whereby one oil operator "buys in" or acquires an interest in a lease or concession owned by another operator on which oil or gas has been discovered or is being produced.

OBS

Often farm-ins are negotiated to assist the original owner with development costs and to secure for the buyer a source of crude or natural gas.

French

Domaine(s)
  • Exploitation commerciale (Pétrole et gaz naturel)
  • Droit des contrats (common law)
DEF

Acquisition d'une participation dans une propriété pétrolifère ou gazéifère en échange de travaux exécutés sur la propriété.

OBS

Acquisition d'une part par accord d'affermage. Voir aussi «accord d'affermage», qui est le générique recouvrant les deux notions de «farm-in» et de «farm-out».

Spanish

Save record 2

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