dry hole


Also found in: Encyclopedia, Wikipedia.
Related to dry hole: dry hole clause

dry hole

n.
An unsuccessful venture, especially an exploratory oil well that produces no oil.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
References in periodicals archive ?
Estimated Average Realized Prices--2Q19 Oil (bbl) NGL (bbl) Natural Gas (Mcf) United States $57.25 $13.25 $0.55 International $68.50 $33.25 $3.00 Egypt tax barrels: 23-25 MBoe per day Realized gain on $13 million derivatives (before tax): Unrealized loss on $21 million derivatives (before tax): Dry hole costs (before tax) $20-25 million http://investor.apachecorp.com/news-releases/news-release-details/apache-completes-midcon-asset-sales-provides-second-quarter
As reported in July, the Freke-Garm Main exploration well 15/6-15 was targeting prospectivity at the same levels, with pre-drill resources of 16-81 mmboe, but was abandoned as a dry hole on June 2.
Guidance for 2019 production and operating expenses is $5.4 billion, which results in adjusted operating cost guidance of $6.1 billion; corporate segment net expense is $0.9 billion or $1.0 billion adjusted corporate segment net expense; depreciation, depletion and amortization is $6.3 billion; and exploration dry hole and leasehold impairment expense is $0.2 billion.
Putat-1, located approximately 20km north of the Cili Padi gas field is confirmed as a dry hole.
The exploration company, which owns a 25-percent share in the TAO well, confirmed that the dry hole cost for the drilling "on a trouble-free basis" would cost $73 million, which is in line with a previous estimate.
This well, which is the first exploration well in PL330, is being plugged and abandoned as a dry hole.
In "Top of the Rock," former NBC Entertainment prez Warren Littlefield's memoir of his two decades at the Peacock network, his boss of bosses, one-time GE chief Jack Welch, says that despite the hits developed during Littlefield's tenure, he was finally let go because management felt he'd become "a dry hole."
With that much dry hole, it always is difficult to clean the hole because mud outruns the cuttings.
Consequently, the dry hole cost (DHC) will be $2.4 million lower than previously forecast.
Edinburgh-based explorer Cairn Energy has shut down its Delta-1 well after it failed to find oil - the third dry hole it has drilled this year.
Dry hole cost of the well is forecast to be US$400,000.
A search of Goggle Scholar indicated that this article had been cited 3166 times, clearly not a dry hole. I mention this because Tiebout was clearly not a prolific writer and his other works received far less attention than this seminal article.