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dry hole |
Also found in: Encyclopedia | 0.09 sec. |
dry hole n (Mining & Quarrying) (in the oil industry) a well that is drilled but does not produce oil or gas in commercially worthwhile amounts How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| Dry hole charges for the quarter are now estimated to be $70 million including a charge of $22 million for the unsuccessful well at the Batu Kapur prospect offshore Sarawak. PINK SHEETS:EDEX) announced today that the Sparkman well in Hardeman County Texas has been plugged and abandoned as a dry hole. This range is above the Company's previous estimate due to lower than anticipated dry hole costs and an exceptionally strong contribution from the Company's refining and marketing segment. |
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