Dry hole definition
Dry hole means a well found to be incapable of producing hydrocarbons in sufficient quantities such that proceeds from the sale of such production exceed production expenses and taxes.
Dry hole means any well abandoned without having produced oil or gas in commercial quantities.
Dry hole means any oil or gas well that does not produce oil or gas in commercial quantities.
More Definitions of Dry hole
Dry hole means a Well that has been drilled to the Casing Point but which is not completed pursuant to the provisions of this Agreement.
Dry hole means an open borehole or cased borehole that does not produce water in sufficient quantity and that can not be modified with a low yield pump and storage reservoir, or combined with another water source to produce water for the intended use.
Dry hole means a dry well which has been plugged and abandoned without ever having produced hydrocarbons in commercial quantities.
Dry hole means a wellbore which is not capable of producing oil and/or gas in commercial quantities. A well may qualify as a dry hole either before or after Completion.
Dry hole means a well that does not produce water in sufficient quantity for the intended use.
Dry hole means a well found to be incapable of producing either oil or gas in sufficient quantities to justify completion as an oil or gas well.
Dry hole means a completed well which is not producing and/or capable of producing oil and/or gas in paying quantities.