Farm Out/Farm In Agreements

Under farm-out / farm-in arrangements, third parties (the "Acquirer(s)") usually agree to acquire from one or more existing licensees / lessees ("Owner(s)), an interest (the "Earned Interest") in a production licence / lease and/or the associated operating agreement, for the consideration of carrying out specified work obligations ("Earning Obligation(s)"), known as the "earning-in" obligation……

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