A contractual agreement with an owner who holds a working interest in an oil and gas lease to assign all or part of that interest to another party in exchange for fulfilling contractually specified conditions. The farmout agreement often stipulates that the other party must drill a well to a certain depth, at a specified location, within a certain time frame; furthermore, the well typically must be completed as a commercial producer to earn an assignment. The assignor of the interest usually reserves a specified overriding royalty interest, with the option to convert the overriding royalty interest to a specified working interest upon payout of drilling and production expenses, otherwise known as a back-in after payout (BIAPO).
There's nothing more satisfying for middle management than being the decision maker on a farm out.
Giving your dog up to a farm because he can't function in an urban environment.
" I love the little bastard with all my heart, but I had to farm out little Boo. He couldn't take being cooped in that apartment all the time. Christ, I miss him."
An event that takes place each month, sometimes as many as twice a week, that involves the get-together of many heavily trained men and women to fight each other to the death, usually ending in a dual from The farm to the transport vehicles. Typical weapons for this gunfight include: SW Combat Shotguns, SW Sniper Rifles, Desert Eagle .44 Magnums, Colt .45's and most memorably M16's. Much money is spent on this event.
-Hey man, did you hear the results from when when we were blastin' out da farm?
It is said of the situation where a person has the bad luck to make contact with his testicles against an undefined surface or object, intentioned or not.
Given the nature of the word, it is more appropriate to design cases where the interaction is made with a moving object, for example, a ball.
Although it is extremely painful for the victim, it tends to be considerably funny to people who witness it.
Today in the baseball game the pitcher took a nutshot; the baseball hit him in the nuts.
Man, I just watched the funniest nutshot video ever.