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Definition of Farm-in

Farm-in Definition from Business & Finance Dictionaries & Glossaries
Glossary of petroleum Industry
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. 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. See Farm-out Agreement.